SHIB Burn Rate Skyrockets Over 2,000% as 20 Million Tokens Are Incinerated in a Single Day

With over 20 million SHIB tokens incinerated in a single day, the deflationary momentum appears to be gaining traction. However, price action remains hesitant

Shiba Inu’s (SHIB) burn momentum surged again, with over 20 million tokens being incinerated in a single day as the deflationary push continues. However, despite this technical factor gaining traction, SHIB’s price action remained relatively muted.

Despite the token burn momentum surging again, SHIB’s price action remained relatively muted.

As reported by AZCoin News, Shiba Inu’s (SHIB) burn momentum surged again, with over 20 million tokens being incinerated in a single day. According to data from Shibburn, the SHIB burn rate soared by a whopping 2,063% on April 15.

More than 20.8 million tokens were permanently removed from circulation within 24 hours, with one notable transaction involving a single wallet address—tagged “0x541…886e0″—that alone burned over 14.5 million SHIB.

These burns highlight the SHIB community’s ongoing commitment to reducing the coin’s massive circulating supply, which still hovers near 584 trillion. Since its launch, the ecosystem has successfully eliminated over 410 trillion SHIB tokens, reinforcing its status as the only deflationary meme coin among competitors like Dogecoin and Pepe.

However, despite these efforts, the price has shown limited movement. At the time of writing, SHIB is trading at around $0.00001195, down roughly 2% over the past 24 hours. This tepid response has left investors wondering whether the burn mechanism alone is sufficient to move the price needle.

Key Support Holding Firm—Is a Breakout Imminent?

From a technical standpoint, Shiba Inu is sitting at a historically significant support level. The current price aligns with an ascending trendline that dates back to 2021, a zone SHIB has repeatedly bounced off in previous downtrends. According to analysts, a decisive break above $0.00001238 could set the stage for a bullish breakout, potentially targeting the $0.00002 range.

“The neckline formed in August last year and the repeated tests of support near $0.000012 make this level a critical inflection point,” said one market observer. “A strong close above resistance could spark renewed interest.”

Community influencer SHIB Knight also posted on X that a “new pump wave is loading,” suggesting optimism among long-term holders.

Network Activity Slows Amid High Burn Momentum

Despite the token burn frenzy, Shiba Inu’s network activity tells a more cautious story. Daily active addresses have dropped significantly—falling from over 13,000 in mid-February to below 3,000 now, according to Santiment. This 78% drop indicates declining retail interest and possibly a wait-and-see approach from traders.

Low user engagement could explain the recent lack of price movement despite aggressive burning. “Even with consistent burns, it’s difficult to push prices up when daily interactions are trending downward,” noted a trader using the alias “wallstreetbets.”

Shibarium’s Role in the Deflationary Push

Shibarium, the project’s layer-2 blockchain solution, continues to be a vital part of SHIB’s deflation strategy. The network has processed over 1.047 billion transactions and now boasts more than 197 million total addresses. A portion of gas fees from Shibarium transactions—paid in BONE—is converted into SHIB and subsequently burned.

This built-in mechanism ensures ongoing reduction in supply, although its real impact is gradual. As Shibarium adoption expands, more transactions will translate into higher SHIB burns, enhancing the asset’s scarcity over time.

News data source: kdj.com

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