Shiba Inu Burns Are Soaring — Is a Massive SHIB Price Explosion Coming?

Updated

May 19, 2025

Gambar Shiba Inu Burns Are Soaring — Is a Massive SHIB Price Explosion Coming?

Jakarta, Pintu News – The latest data from the Shiba Inu ecosystem shows that the SHIB firing rate jumped more than 106,000% on May 17, 2025. This spike signifies that the community is getting more active and engaged.

Interestingly, this surge in burning occurred precisely when the price and market capitalization of SHIB digital assets decreased over the same period.

Over 15 Million SHIBs Burned in 24 Hours

After a few days of barely noticeable burn activity, the burn rate of Shiba Inu tokens jumped dramatically in the last 24 hours (5/17/25). According to an update from the Shiba Inu ecosystem, the burn rate increased by 106,040.49%.

Based on data from Shibburn, more than 15.3 million SHIB tokens have been burned in that time. This surpasses the previous burn rate which had recorded a daily spike of 6,519%.

HOURLY SHIB UPDATE$SHIB Price: $0.00001422 (1hr 0.40% ▲ | 24hr -5.93% ▼ )
Market Cap: $8,379,884,227 (-5.90% ▼)
Total Supply: 589,251,505,066,314

TOKENS BURNT
Past 24Hrs: 15,330,933 (106040.49% ▲)
Past 7 Days: 117,734,904 (114.03% ▲)
— Shibburn (@shibburn) May 17, 2025

However, despite the latest burn spike, there hasn’t been any significant change in the token’s price.

In general, this latest flaring activity is believed to be community-driven. Several transactions recorded on the Shibburn tracker suggest an organized effort by token holders to reduce the supply of SHIB.

According to the latest update, one wallet (ending in f3ce5886e0) burned over 15 million SHIB in a single transaction. Another wallet (7fb81d3e43) performed four separate burns, totaling over 25 million SHIB in just two days.

These transactions had a large impact on the total daily burn. This suggests that some SHIB holders remain committed to reducing the token’s supply, possibly in the hope of influencing its price in the future.

To date, more than 410.7 trillion SHIB tokens have been burned from the total initial supply. Despite this, the circulating supply is still very large, at around 584.4 trillion. Nonetheless, consistent burning efforts like this help control inflation and add a slight element of scarcity to the tokens.

SHIB Price Drops Despite Increased Combustion Rate

Although the burning rate of SHIB tokens has been a positive highlight, its price movement has not followed the trend.

Data from CoinMarketCap shows that SHIB is trading at $0.00001425, down approximately 5.87% as of May 17, 2025.

In terms of market capitalization, SHIB saw a slight decrease to $8.38 billion. This decrease occurred despite daily trading volume reaching $210.74 million, indicating that interest in the token still remains strong.

However, SHIB’s fundamentals remain attractive. The maximum supply of this token is close to one quadrillion. Moreover, more than 4.79 trillion SHIB tokens are currently being staked as xSHIB. This indicates a high level of community participation in the Shiba Inu network.

Even so, it remains a question mark whether this latest burning activity is strong enough to push the price through the resistance point.

It is worth noting that the Shiba Inu community continues to push for increased burn rates and wider adoption. Many are now waiting to see if this momentum can bring SHIB prices up sustainably in the long run.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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