Millions of SHIBs are still disappearing from the market. In the space of 24 hours, more than 6 million tokens were sent to burn addresses, immediately reigniting speculation around the deflationary potential of memecoin. As activity picks up on several major platforms, the Shiba Inu community continues to rely on rarity to support investor interest. A strategy that is returning to the center of discussions in a crypto market always looking for new catalysts.
In brief
- More than 6 million SHIB were sent to burn addresses in just 24 hours, further reducing the supply of the memecoin.
- The daily burn rate of SHIB has increased by 37.28%, while more than 410,839 billion tokens have already been destroyed since the creation of the project.
- Shiba Inu remains one of the most traded cryptos on the Indian platform WazirX, a sign of strong interest from Asian investors.
- The price of SHIB rose slightly amid renewed risk appetite in the crypto market.
More than 6 million SHIBs sent to inactive wallets
While the crypto is once again attracting the attention of traders, Shiba Inu has recorded another massive burn over the last 24 hours. According to data relayed by the Shibburn platform, exactly 6,079,210 SHIB were sent to burn addresses, permanently removing these tokens from circulation.
Thus, the daily burn rate increased by 37.28% over this period. This new operation is part of a deflationary strategy carried out for several years by the SHIB community in order to gradually reduce the supply available on the market.
The main figures put forward by Shibburn illustrate the extent of the phenomenon:
- 33,555,505 SHIBs were burned over the last seven days;
- 197,397,403 SHIBs have been destroyed over the last thirty days;
- 410,839,970 136,820 SHIB have disappeared from circulation since the creation of the project;
- This quantity represents more than 41% of SHIB's initial supply;
- The estimated valuation of the burned tokens reaches approximately $7.35 billion.
The weekly burn rate remains down 40.56%. This is a sign that the pace of destruction remains variable depending on the market periods.
SHIB maintains strong activity on Asian markets
Beyond the token destruction mechanisms, it is worth highlighting the solidity of demand around SHIB on certain major platforms. In India, the token is among the most traded cryptos on the WazirX exchange in April. Shiba Inu occupies second place behind bitcoin, ahead of assets like Ethereum, Dogecoin or XRP. This activity confirms that memecoin maintains a particularly active user base in several emerging markets, despite continued volatility in the sector.
Such dynamics were accompanied by a slight rebound in the price of the token. Thus, the SHIB has increased by around 2% over the last 24 hours and by 3% over the week, with a price around 0.00000641 dollars. This improvement in market sentiment can be linked to the latest US jobs report, which reported 115,000 jobs created in April in the United States. This macroeconomic context helped to temporarily support the appetite for risk on speculative assets, including memecoins.
However, the reduction in supply does not mechanically guarantee a sustainable increase in the price of SHIB. Despite hundreds of trillions of tokens already destroyed, the remaining supply remains considerable. The Shiba Inu community, however, continues to use burn as a central lever in its economic narrative, in the hope of fueling the scarcity of the token in the long term. In a market where speculation and community strength play a major role, this strategy could continue to influence investor perception around the project.
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