SHIB Token Burns Spikes: Will This Affect the Price?
Date: 2025-05-19 Author: Henry Casey Categories: CRYPTO PAYMENTS
According to Shibburn, over 15.3 million SHIB tokens have been burned in the last 24 hours, indicating increased activity in the ecosystem. The burn rate has increased by over 106,000%, despite the token’s price and market cap falling during the same time.
What’s particularly notable is that one transaction from an address ending in f3ce5886e0 resulted in the burning of over 15 million SHIB. Another participant with the address 7fb81d3e43 conducted four separate burns totaling 25 million tokens in just two days. Such activity indicates community activity aimed at influencing supply and demand.
To date, the total number of tokens burned has exceeded 410.7 trillion, which is a significant portion of the initial emission volume. However, there are still about 584.4 trillion SHIB in circulation, which keeps the token at a high level of availability. Despite this, regular burns help reduce inflationary pressure and increase the scarcity of the asset, which can potentially affect its value in the future.
It is interesting to note that the increase in the burn rate has not yet affected the price of SHIB, which continues to decline. At the time of publication, the token price has fallen by more than 1.5%, and, according to various sources, the decline fluctuates between 1.18% and 1.80%.
However, the fundamentals of the project remain stable. More than 4.79 trillion SHIB have been staked as xSHIB, which indicates steady support from a part of the community. This indicates that interest in the project is maintained, despite the current lack of positive dynamics in the market.
Thus, in the short term, the significant increase in burns did not have a direct impact on the token price. However, if the trend continues and the supply continues to decrease, it could become an important factor for the possible future growth of SHIB.
