Shiba Inu’s Burn Rate Fires 588%, Key Indicators Flash ‘Buy’ — What Up?
Posted On May 19, 2025
Nearly 23 million Shiba Inu (CRYPTO: SHIB) were kicked out of circulation Sunday, applying further deflationary pressure on the popular dog-themed meme coin.
What happened: The burn rate exploded 588.22% in the last 24 hours, resulting in a supply squeeze of 22.94 million SHIB tokens, according to Shibburn, the coin’s official burn tracker.
At the time of writing, about 410.74 trillion SHIBs have been burned, with the circulating supply at 584.45 trillion.
Coin burning entails sending a cryptocurrency to an unusable wallet address to remove it from …
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