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Sujit Kumar
Mar 10, 2025

Shiba Inu Burns Surge 1,028% as Price Rallies, Market Cap Dips

Shiba Inu Burns Surge
Data from Shibburn reveals a dramatic surge in SHIB token destruction over the past 24 hours. The Shiba Inu community has burned 20,633,494 SHIB through five transactions, with the largest single burn accounting for 19,443,692 SHIB locked in an unspendable wallet. This explosive increase in burn rate—up 1,028%—indicates significant whale and community activity aimed at reducing the circulating supply.

Price Surge and Trading Activity

Following the intensive burn session, SHIB’s price experienced a notable rebound. The meme coin rose approximately 9% in 24 hours, climbing from $0.00001162 to $0.00001267. Despite a previous 15% plunge between Friday and today, this upward movement signals renewed investor optimism. In contrast, Bitcoin also posted a modest 4% gain today, reaching $83,200, even after an 11.26% drop earlier in the week.

Market Impact and Ranking

While the burn activity and price spike are promising for SHIB, the overall market sentiment remains cautious. Since the beginning of the year, SHIB has slipped to the 18th position on CoinMarketCap, with a market capitalization of approximately $7.4 billion. The current developments come amid broader market reactions to recent announcements regarding the U.S. Strategic Bitcoin Reserve, which have yet to meet community expectations.

As traders closely monitor key technical levels, the outcome of this burn-driven rally may dictate whether SHIB can sustain its momentum and climb back into the top-20 rankings, or if further consolidation will follow.

 

Shiba Inu Burns Surge 1,028% as Price Rallies, Market Cap Dips
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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