Shiba Inu (SHIB) witnessed an unprecedented surge in its token burn rate, exceeding 16,000% within 24 hours. This resulted in over 602 million SHIB tokens permanently destroyed, with a single transaction accounting for nearly the entire amount. The burn initiative, championed by community leaders like Shytoshi Kusama, aims to reduce SHIB's circulating supply and enhance scarcity.
Since adopting the burn mechanism in 2021, approximately 410.7 trillion SHIB (41% of the initial quadrillion supply) has been eliminated. Shytoshi Kusama emphasized: "The burn initiatives are a crucial part of our strategy to create scarcity and enhance SHIB's value proposition." Analysts suggest this could propel SHIB toward $0.000025, with Javon Marks identifying a technical pattern indicating potential rallies to $0.000081 if broader market conditions align.
Despite bullish sentiment, CryptoQuant data reveals rising SHIB exchange inflows, signaling increased selling pressure. SHIB must overcome key resistance at $0.000017—27% above its current $0.0000133 price—to validate optimistic forecasts.