Shiba Inu Burns Spike 7,500% In 1 Week: Can SHIB Price Continue Rising?

nearly the previous week, Shiba Inu, the meme currency, burnt nearly 2 billion SHIB tokens, a 7,418% rise. This considerable decrease in circulating supplies has investors optimistic, particularly with the Shiba Inu price reaching annual highs.

New Shiba Inu Weekly Burn Highs

On social media platform X, Shibburn, the official SHIB token burn platform, reported a 7,418% weekly burn rate rise in the week preceding up to November 30. The steep spike removed 1.937 billion SHIB tokens from circulation, a major milestone in the continuing attempt to lower the token's huge supply.

This X post by Shibburn has boosted SHIB burns and the Shiba Inu price. At 2.15 billion SHIB tokens burnt in the previous week, the sum is astonishing. The previous 24 hours saw 386.5 million of these tokens burnt.

Burn Mechanics Affect SHIB Price

Token burning limit bitcoin supply to boost scarcity and price pressure. Long-term value depends on persistent and large burns for Shiba Inu, which began with a huge circulating supply. One quadrillion Shiba Inu tokens were manufactured, however SHIB burns have cut circulation by approximately half.

Over 2 billion Shiba Inu tokens were burned in a week, demonstrating the community's commitment to this plan. Meme coins now have 589.26 trillion SHIB tokens in circulation.

It was always planned to burn most SHIB tokens. Shiba Inu main developer Shytoshi Kusama believes this ambitious aim is achievable. He said that burning 99% of SHIB tokes is difficult for many reasons.

Not just burns help SHIB win, he said. Memecoin must be useful and virally distributed so people don't burn it.


Shiba Inu is now trading at $0.00003059, up 13% in 24 hours. An intraday high of $0.00003146 brought the Shiba Inu close to reaching a 2024 price high.

#SHIB #ETHOnTheRise #MarketInTheGreen #ThanksgivingBTCMoves $SHIB