The SHIB burn rate surged by 341,896% in 24 hours, but the actual burned volume was only 1,313,162 SHIB — too small to materially affect the Shiba Inu price in the short term.
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SHIB burn rate spiked 341,896% in 24 hours
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Only 1,313,162 SHIB were burned, with a single transfer of 1,033,449 SHIB to an unspendable wallet.
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SHIB price rose 3.42% in 24 hours and traded at $0.00001270 at press time.
SHIB burn rate spike 341,896% — small burned volume, limited price impact. Read analysis and market context. Stay informed with COINOTAG updates.
What caused the SHIB burn rate to jump 341,896%?
The SHIB burn rate reflected a dramatic percentage increase after one-day spikes in burn activity recorded by on-chain trackers. Front-loaded on-chain transfers and a large single burn moved the metric but represented a small total supply removal relative to circulating SHIB.
How significant was the actual amount of SHIB burned?
Despite the headline percentage surge, only 1,313,162 SHIB were removed from circulation over 24 hours. The largest single burn was 1,033,449 SHIB sent to an unspendable wallet. Relative to total supply, this is negligible and unlikely to shift supply-demand dynamics.
Image via Shibburn
How does the burn rate affect Shiba Inu price?
Burns can theoretically reduce circulating supply and support price over time, but impact depends on scale and consistency. A one-off burn of ~1.3 million SHIB is too small to move market price materially given SHIB’s large supply and daily trading volumes.
Why the headline percent can be misleading
Percentage changes amplify when base values are tiny. On-chain metric tools can report enormous percentage gains when the prior burn baseline was very low. Always compare percentage change with absolute tokens burned and recent averages.
SHIB market performance
Over the past 24 hours, Shiba Inu posted a 3.42% price increase, rebounding from a minor weekend dip. The token tested resistance near $0.00001274 but was rejected and settled at $0.00001270 at press time.
Short-term price moves were likely driven by market sentiment and trading flows rather than the small burn volume. Traders should watch sustained burn patterns and liquidity changes for any durable supply impact.
What should traders and holders watch next?
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Consistent burn trends: Multiple large burns over several days are required to impact supply.
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Trading volume: High volumes can absorb minor burns without price moves.
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On-chain metrics: Monitor active addresses, exchange flows, and average burn size.
Frequently Asked Questions
How many SHIB were burned in the 24-hour spike?
1,313,162 SHIB were burned in the 24-hour period, including a single transfer of 1,033,449 SHIB to an unspendable wallet.
Will more burns appear after this spike?
Possibly, but market impact depends on consistency and scale. Watch on-chain trackers and burn averages to confirm a sustained trend.
Key Takeaways
- Burn surge was percentage-driven: Absolute burned volume was small compared to SHIB’s total supply.
- Short-term price unaffected: 3.42% price change is more likely due to market flows than this burn.
- Watch for pattern over time: Repeated, sizable burns are necessary to create measurable supply pressure.
Conclusion
COINOTAG reporting: The sharp 341,896% increase in the SHIB burn rate highlights how on-chain percentages can mislead when absolute volumes remain low. Investors should focus on sustained burn activity, trading volume, and broader market signals before drawing conclusions about Shiba Inu price direction. Stay updated with COINOTAG for further on-chain analysis and verified data.
