SHIB Burn Rate Skyrockets 3000%, Fueling Price Hopes and Hype

• SHIB supply drops as token burns and staking reduce circulation fast.
• Shibarium’s RollApps framework boosts utility for SHIB and BONE tokens.

Shiba Inu’s deflationary strategy has intensified, with a dramatic rise in SHIB token burns. Shibburn data confirms that 521 million SHIB tokens were permanently removed from circulation in just one day.

This marks a 3008.92% jump in daily burn activity, which now sits at 537 million tokens. One wallet, ending in 2019a, was responsible for burning over 500 million SHIB within 12 hours.

According to Shibburn, the total SHIB supply is approximately 589.25 trillion. Of that, around 584.52 trillion remain in circulation. Over 410.74 trillion SHIB have been burned since the token’s launch, reflecting consistent community-driven efforts to reduce supply. Additionally, 4.73 trillion SHIB are staked as xSHIB, taking them out of active market circulation.

These ongoing burns and staking activity are likely to reduce selling pressure, which may impact price dynamics as the available supply continues to shrink.

SHIB Price Action Signals Bullish Momentum

Shiba Inu (SHIB) is currently trading at $0.00001217, with a 3.31% gain in the last 24 hours, according to CoinMarketCap. The token climbed from a session low of $0.00001183, forming higher lows along the way. This pattern suggests strong bullish momentum despite earlier volatility.

The immediate support level remains at $0.00001183, where price action previously rebounded. Resistance is currently near $0.00001220, which has capped recent attempts to move higher. A confirmed breakout above this range could open the path to the next key resistance at $0.00001250.

Traders are watching closely as buying volume builds near support, indicating confidence in the current trend. If SHIB can maintain upward pressure, it may retest higher resistance levels in the near term.

Shibarium RollApps Drive Utility for BONE and SHIB

The Shiba Inu team has introduced Shib Alpha Layer, a new framework within its Layer-2 blockchain, Shibarium. CoinCryptoNewz recently reported that this feature allows developers to deploy custom blockchains called RollApps in minutes. All transactions from these RollApps settle on Shibarium, increasing the network’s transaction load.

The update is expected to boost usage of BONE significantly, the gas token for all Shibarium transactions. Documentation on shib.io projects a 30–50% rise in BONE’s utility as a direct result of increased on-chain activity. RollApps can host applications, games, and digital tools, all contributing to a growing ecosystem.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.