Following days of drop, Shiba Inu's burn rate made a reversal in the past day, soaring 1,567%.
According to Shibburn, over 1 million SHIB tokens were burned in the last day, as compared to previous days of the week when fewer than 200,000 tokens were burned.
HOURLY SHIB UPDATE$SHIB Price: $0.00000827 (1hr -0.08% ▼ | 24hr -0.58% ▼ )
Market Cap: $4,872,396,851 (-0.57% ▼)
Total Supply: 589,246,092,702,880
TOKENS BURNT
Past 24Hrs: 1,157,800 (1567.82% ▲)
Past 7 Days: 21,344,114 (-77.44% ▼)
In the past 24 hours, a total of 1,157,800 SHIB tokens were burned, resulting in a 1,567.82% increase in burn rate.
As reported, the day before the last saw a 62.96% drop in the Shiba Inu burn rate when a meager 69,420 SHIB tokens were burned.
HOT Stories Morning Crypto Report: World's Highest IQ Holder Turns to XRP, Cardano on the Verge of 40% Surge, Shiba Inu (SHIB) Loses $110 Million in Just 24 HoursSchiff Jumps on Saylor's McDonald's PicCrypto Market Prediction: XRP's Engines Are Hot Enough for a Rally, Ethereum (ETH): One More Price Surge Attempt, Shiba Inu (SHIB) Does Not Want to Stop at $0.000008Important Date for XRP Holders Revealed, Bitcoin OG Bets $392 Million on Ethereum, Dogecoin Jumps 61% in Volume — Crypto News Digest
The drop coincided with the sell-off in the market as investors weighed macroeconomic concerns. At the time of writing, SHIB was down 1.47% in the last 24 hours to $0.00000825 and down 2% weekly.
While Shiba Inu's price still trades in the red, it is surprising to see the burn rate make a sudden reversal, surging up to 1,567%.
The reason for the SHIB burn surge remains unknown, but might indicate that the Shiba Inu community still remains committed to burns believed to have a potential impact on Shiba Inu's long term value despite the short-term bearish sentiment.
What's next?
With barely 17 days to the end of the year, traders are eagerly watching to pick potential clues that might shape 2026.
The crypto market remains in a weakened position after enduring a weeks-long sell-off that began in early October with a major liquidation event, which wiped out about $19 billion in leveraged bets.
Crypto analytics firm Glassnode said various metrics point to a "mild bearish phase" in the market, defined by modest capital inflows outweighed by steady selling pressure from larger holders. Albeit institutional interest is growing, with Shiba Inu included in the $1.77 trillion legacy asset manager T.Rowe crypto ETF.
The current scenario in the market leaves traders uncertain as to where the market is heading next.
On Dec. 15, Coinbase will be launching perpetual style futures in the U.S. for altcoins, including Shiba Inu. The crypto exchange teases a system update on Dec. 17, with the Shiba Inu community waiting to hear potential announcements that might benefit Shiba Inu.
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