{"id":48203,"date":"2026-10-21T05:26:59","date_gmt":"2026-10-21T05:26:59","guid":{"rendered":"https:\/\/financialrush.com\/?p=48203"},"modified":"2026-10-21T05:26:59","modified_gmt":"2026-10-21T05:26:59","slug":"shiba-inu-shib-burn-rate-explodes-nearly-500-in-a-day-but-there-is-a-catch","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=48203","title":{"rendered":"Shiba Inu (SHIB) Burn Rate Explodes Nearly 500% in a Day, But There Is a Catch"},"content":{"rendered":"

\n<\/p>\n

The popular meme coin has had a tough year so far, with its price collapsing by nearly 30% since January 1. At the same time, investor interest in the token has cooled significantly, which could weigh on any potential rebound.<\/p>\n

The resurgence of Shiba Inu’s burning mechanism is one of the few rays of hope, but it may not be as bullish as it appears at first glance.<\/p>\n

The Burns and More<\/h2>\n

According to the X account Shibburn, the team and community have scorched<\/a> almost 2.7 million SHIB in the past 24 hours, a 492% increase from the previous day. The burning program is a vital part of Shiba Inu’s ecosystem, designed to gradually reduce the token’s vast supply and potentially increase its value through scarcity.<\/p>\n

Nearly 2.7 million coins may sound impressive, yet the USD valuation of the stash is negligible at around $13. That said, far more aggressive burns will likely be needed to meaningfully affect SHIB’s supply dynamics.<\/p>\n

The team introduced the mechanism in 2022, and over 410.8 trillion tokens have already been sent to a null address, with Vitalik Buterin contributing<\/a> a significant portion of that figure.<\/p>\n

Another factor that could help SHIB recover some of its losses is a potential uptick in Shibarium’s activity. Daily transactions processed on the layer-2 scaling solution have exploded by roughly 370% in the past 24 hours, reaching 7,300. Still, this is nowhere near the levels seen months ago and is unlikely to be a major bullish catalyst.<\/p>\n

<\/a>
Shibarium Daily Transactions, Source: shibariumscan.io<\/figcaption><\/figure>\n

Price Prediction<\/h2>\n

There has been little commentary on SHIB lately, with Crypto With Gopal emerging as one of the few analysts to offer a forecast. The X user suggested<\/a> the meme coin has printed a falling Wedge formation as the price consolidates near $0.00000502, while buyers look to defend support.<\/p>\n

The analyst said a breakout above the descending resistance could spark a bullish momentum shift, setting $0.0000060 as an upside target and identifying $0.0000047-$0.0000048 as a support zone.<\/p>\n

\n

“SHIB bulls are watching for a breakout – meme coin momentum could return,” he concluded.<\/p>\n<\/blockquote>\n

Meanwhile, the amount of Shiba Inu stored on crypto exchanges remains relatively low at just north of 87 trillion coins, which supports the bullish perspective since it reduces immediate selling pressure.<\/p>\n

\"SHIB<\/a>
SHIB Exchange Netflow, Source: CryptoQuant<\/figcaption><\/figure>\n

 <\/p>\n

The post Shiba Inu (SHIB) Burn Rate Explodes Nearly 500% in a Day, But There Is a Catch<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The popular meme coin has had a tough year so far, with its price collapsing by nearly 30%…\n","protected":false},"author":2,"featured_media":48204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-48203","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/48203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48203"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/48203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/48204"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}