Shiba Inu Burn Rate Explodes 2,000,000% – Is a Major Price Move Coming?

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Alejandro Arrieche

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Alejandro Arrieche

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Last updated: 

April 7, 2025

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Shiba Inu (SHIB) has seen a notable surge in token burns recently, coinciding with a spike in transaction volumes—a development that could help the meme coin weather the current market downturn.

According to ShibBurn, SHIB’s burn rate has soared by more than 2,000,000% in the past 24 hours, with 13.39 million tokens permanently removed from circulation.

While this figure is relatively small compared to SHIB’s massive 589 trillion circulating supply, every burn incrementally reduces available supply, potentially driving up prices over time.

This deflationary mechanism may be contributing to SHIB’s resilience in 2025. Despite losing 46.5% of its value year-to-date, it has outperformed other major meme coins like Dogecoin (down 51.2%) and PEPE (down 68.2%).

The marketing lead of the Shiba Inu ecosystem, known on the social media platform X as Lucie, highlighted that the market is heavily politicized these days.

She emphasized that the stronger projects in the blockchain space focus on building rather than following the noise, referring to the significant turmoil caused by President Donald Trump’s tariffs.

Shiba Inu Needs to Break Above This Level to Keep the Uptrend Going

Looking at the hourly chart, SHIB bounced strongly off the $0.00001029 level but it has now made a lower high, meaning that the uptrend could be weakening.

The price action is still within the normal ranges of a pullback. The 61.8% Fibonacci retracement level would be the key support area to watch in the next few hours as a strong bounce off this area would confirm that the uptrend is still alive.

However, momentum indicators have sent sell signals already as the Relative Strength Index (RSI) has crossed below the signal line and is currently retesting it. Meanwhile, the MACD’s histogram is in negative territory.

SHIB would have to move above the $0.00001172 level to reverse the downtrend at this point. If that happens, the outlook for today’s session will still be positive.

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This character leverages the popularity of the Pepe the Frog meme to draw attention to its comments and interactions.

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