SHIB Burn Rate Soars 6,500% — Will the Rally Resume?
Key Notes
- SHIB burned over 28 million tokens in 24 hours as its burn rate saw a 6,519% spike.
- Despite deflationary activity, SHIB price fell nearly 8% to $0.00001532.
- A breakout above $0.000017 could push the meme coin to $0.0000224.
Leading meme coin Shiba Inu
SHIB
$0.000014
24h volatility:
2.3%
Market cap:
$8.04 B
Vol. 24h:
$173.43 M
has witnessed a major surge in its token burn rate as part of its ongoing deflationary push.
According to data from Shibburn, SHIB’s burn rate spiked by 6,519% on May 13, leading to over 28 million tokens being permanently removed from circulation within 24 hours.
This jump in burn rate marks continuous effort from the SHIB team to create long-term scarcity and utility by reducing its circulating supply. As of now, more than 410.7 trillion SHIB tokens have been burned from the initial supply.
Data suggests that the current circulating supply stands at roughly 584.4 trillion tokens, while the total supply is 589.25 trillion. SHIB’s 24-hour trading volume has also surged over 30%, signaling increased activity and interest.
SHIB Price Outlook
Despite a major uptick in burn rate, SHIB’s price dropped nearly 8% in the past day, trading at $0.00001532. The meme coin’s market cap also saw a slight decline to $9.05 billion, according to CoinMarketCap.
On the daily SHIB price chart, the Bollinger Bands are widening, with price retracing after touching the upper band, which is often a sign of overbought conditions. The middle band (20-day SMA) sits at $0.00001402, acting as key short-term support.
SHIB price chart with RSI and Bollinger Bands | Source: TradingView
Meanwhile, the RSI is around 63, down from above 80 a few days ago, indicating cooling bullish momentum. If the indicator drops further, traders could witness a bearish reversal. For bullish continuation, SHIB must hold support at $0.00001400.
Crypto investor CW noted that SHIB must overcome the key resistance level at $0.000017 to move higher. According to him, if SHIB breaks past this sell wall, the next major resistance lies at $0.0000224, which could lead to further bullish action.
$SHIB is trying to break through the sell wall.
If it breaks through the current sell wall, the next one is $0.0000224. pic.twitter.com/pg7EwRD8uo
— CW (@CW8900) May 12, 2025
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About SUBBD: Use Case and Its Tokenomics
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The platform’s native token SUBBD is based on the Ethereum blockchain. It powers seamless payments, exclusive content access, and AI-driven creator utilities.
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Notably, the platform has already raised $382,495 out of a $598,731 target.
Current presale stats:
- Current price: $0.0554
- Amount raised so far: $382,495
- Ticker: SUBBD
- Chain: Ethereum
There are just two days left before the team raises SUBBD value. For those eyeing high staking yields and looking to invest in a project that’s introducing AI in the subscription-based market, Subbd should be on their watchlist.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
