Shiba Inu (SHIB) Burn Rate Makes a Comeback, But Challenges Persist

Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, is showing signs of life as its deflationary mechanism roared back into action. In the past 24 hours, over 1.7 million SHIB tokens were permanently removed from circulation, marking a noteworthy move just before the year ended.

What the Burn Means for SHIB’s Price

Shibburn, a platform that tracks SHIB burn activity, reported a dramatic 243.34% surge in the burn rate. This mechanism, which reduces the total supply of tokens, is designed to help stabilize SHIB’s price and counteract declines over time.

However, the burn hasn’t been enough to completely stop SHIB’s recent slide. The token is still down 2.76% and trading at $0.00002109, according to CoinMarketCap. Interestingly, trading activity has jumped 31.11%, reaching $538.36 million, as investors made their last moves of 2024.

Earlier, SHIB’s price fell to a low of $0.00002054, but the burn likely played a role in helping it bounce back slightly to its current level. Still, it’s clear the token has some ground to cover.

Can SHIB Make a Comeback in 2025?

Over the past month, SHIB has struggled with volatility, unable to reclaim its November high of $0.00003016. Despite optimism across the crypto market, SHIB’s performance in December fell short of expectations.

For SHIB to see significant growth in 2025, experts believe the community needs to get more involved, and developers must introduce fresh projects to drive excitement. Shytoshi Kusama, the mysterious figure leading the Shiba Inu project, has hinted at big plans for the ecosystem in the coming year. He’s promised that 2025 will be a turning point, with major developments aimed at boosting adoption and utility.

While the recent surge in the burn rate is a step in the right direction, SHIB still faces challenges ahead. The question now is whether the community and developers can rally together to make Kusama’s vision for 2025 a reality.