Shiba Inu’s Burn Rate Plummets 82%: A Comedy of Errors 🤣

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Shiba Inu (SHIB), the digital darling of the meme coin world, has experienced a rather comical 82% nosedive in its burn rate, a mere 24 hours after the deflationary mechanism soared to unprecedented heights, up by over 10,000%. According to the whimsical trackers at Shibburn, the volume of SHIB tokens sent to the digital equivalent of a black hole has taken a significant dip.

Price Holds Firm Despite Burn Rate Fiasco

In the last 24 hours, a mere 1,556,906 SHIB tokens were ceremoniously incinerated by the community, a ritualistic act aimed at stabilizing the price and, one hopes, increasing the coin’s value. One can almost hear the collective sigh of relief from the SHIB holders, as if they were watching a particularly tedious episode of a soap opera.

HOURLY SHIB UPDATE$SHIB Price: $0.00001181 (1hr -0.33% â–¼ | 24hr 3.51% â–² )
Market Cap: $6,961,854,032 (3.48% â–²)
Total Supply: 589,249,765,162,560

TOKENS BURNT
Past 24Hrs: 1,556,906 (-82.31% â–¼)
Past 7 Days: 48,740,998 (-11.90% â–¼)

— Shibburn (@shibburn) July 7, 2025

The SHIB burn mechanism, a delightful internal strategy designed to reduce the circulating supply, operates on the quaint principle of supply and demand. The ecosystem, with all the optimism of a child waiting for Santa, believes that by incinerating the circulating supply, they might just push the price up if demand increases. One can only hope the market shares their enthusiasm.

In the last 24 hours, the price of Shiba Inu has shown a glimmer of hope, nudging closer to the $0.000012 resistance level. As of press time, Shiba Inu was exchanging hands at $0.00001180, a modest 2.32% increase. The coin had previously reached a peak of $0.00001195, a mere stone’s throw from the critical resistance. It might breach this level, given the fervent engagement from investors in the ecosystem, who seem to have more faith in SHIB than in the Tooth Fairy.

The trading volume, much like a rollercoaster, has witnessed a steady increase in the green zone, climbing by 90.53% to $130.7 million. If the ecosystem can maintain this momentum, the price appears poised to test higher levels, much to the delight of those who have invested their life savings in this digital marvel.

What’s Next for Shiba Inu?

Meanwhile, within the last seven days, there has been a 195% to 200% spike in the volume of microtransactions. This metric, often a harbinger of retail investor accumulation, suggests that the little guys are gearing up for a price increase. As the week unfolds, market participants will be monitoring market trends, perhaps with a side of popcorn, to see further price reactions. A key factor for an uptick could be Bitcoin’s performance in the broader cryptocurrency space, a relationship as complex as a Shakespearean drama.

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2025-07-07 13:19