Key Notes
- Shibburn shows that the SHIB burn rate increased by 157,726%.
- This led to the burning of 2,481,036 SHIB in 24 hours, and now the total supply of the memecoin is 589,247,732,073,096 tokens.
- Shiba Inu price has increased to $0.00001238, following a 1.5% increase over the last 24 hours.
Canine-themed memecoin Shiba Inu has seen its burn rate spike by 157,726%, leading to the incineration of 2,481,036 SHIB in 24 hours. In light of this increase, the price of the crypto asset has recorded a mild rally. This is significant, judging by the recent selloff in the broader crypto market.
SHIB Price May Sustain Rally as Burn Increase
According to Shibburn, the dedicated Shiba Inu burn tracker, the memecoin recorded a notable drop in its circulating supply. The burn rate went as high as 157,726%, causing the ecosystem to lose 2,481,036 SHIB within 24 hours. The Shiba Inu ecosystem is now left with 589,247,732,073,096 in total supply.
HOURLY SHIB UPDATE $SHIB Price: $0.00001239 (1hr -0.22% ▼ | 24hr 1.54% ▲ )
Market Cap: $7,302,271,924 (1.57% ▲)
Total Supply: 589,247,732,073,096TOKENS BURNT
Past 24Hrs: 2,481,036 (157726.72% ▲)
Past 7 Days: 14,068,717 (-76.32% ▼)— Shibburn (@shibburn) August 30, 2025
Ordinarily, when such a massive burn is recorded in the crypto industry, the digital asset concerned usually sees a spike in its market value. This follows the law of demand, supply and price, which says that with reduced supply and increased demand comes a price increase. As it stands, the SHIB price is in line with this economic principle.
CoinMarketCap data shows that SHIB is currently trading at $0.00001238, corresponding with a 1.5% spike within the last 24 hours. Additionally, its market capitalization has increased to $7.26 billion during the same period. SHIB’s 24-hour trading volume has also recorded a 14.61% increase and is now pegged at $248.56 billion.
This current outlook of SHIB is quite outstanding considering that the dog-themed memecoin has been one of the underperformers in the market.
Notably, the reduction in SHIB supply could indirectly reduce selling pressure. Fortunately, this could create favorable conditions for bulls to sustain the price rally. If this is the case, the price of SHIB may record a further increase in a few weeks.
