Shiba Inu’s Burn Rate Fires 1734% But Traders Are Still Betting Against The Memecoin—What You Need To Know
Posted On April 15, 2025
More than 19 million Shiba Inu (CRYPTO: SHIB) tokens were kicked out of circulation Monday, applying additional deflationary pressure on the popular dog-themed meme coin.
What happened: The burn rate exploded 1734% over the last 24 hours, resulting in a supply squeeze of 19.16 million SHIB tokens, according to Shibburn, the coin’s official burn tracker.
As of this writing, about 410.74 billion tokens have been burned, with the circulating supply at 584.37 billion.
Coin burning happens when a cryptocurrency token is intentionally sent to an unusable wallet address to remove it from circulation. This is done to create scarcity and …
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