Shiba Inu Burn Rate Skyrockets by 12,670%: Is SHIB Primed for a Massive Rally?

Shiba Inu (SHIB), the meme token with a passionate global community, is making headlines again. On Tuesday, SHIB’s burn rate exploded by a staggering 12,670%, a development that could pave the way for significant price action. According to Shibburn data, over 52 million SHIB tokens were permanently removed from circulation in a single day by being sent to a null address. This bold move reduces the token’s supply, fueling speculation of future price gains.

The concept of “burning” involves permanently removing tokens from the supply, creating scarcity—a basic principle of economics that often leads to price increases when demand remains strong. For SHIB, this burn is particularly intriguing, as the token has been consolidating at key levels, and any hint of bullish momentum could trigger a breakout.

The surge in the burn rate also highlights the unwavering commitment of the SHIB community to support long-term value growth. With major projects like Shibarium—a layer-2 scaling solution—and continuous ecosystem expansion, Shiba Inu is more than just a meme coin.

Could this drastic reduction in supply propel SHIB’s price to double? Investors are watching closely, with hopes running high that this burn event is just the spark needed for SHIB to take off.