Shiba Inu: Over 1.7B SHIB Burned To End 2024, Will It Spark 2025 Surge?
Over 1.7 billion Shiba Inu tokens (SHIB) were burned in the final week of 2024, raising questions about the meme coin’s future in 2025. SHIB recorded mild incineration in a notable move just before 2024 came to a close. The project saw over 1.7 million SHIB tokens taken out of circulation in a massive burn. At press time, SHIB is trading at $0.00002124, down 33% in the past 30 days. In light of this downturn to close out 2024, Data from Shibburn reveals that the Shiba Inu burn rate soared by 243.34% in the last 24 hours. Specifically, 1,717,872 SHIB tokens were sent to dead wallets on the network. The burning of Shiba Inu tokens is an often-measured statistic when understanding the asset’s price and circulating supply. The burning of SHIB tokens is done to keep a strong hold on value by manipulating how much SHIB there is at a given time. With the token’s price down in December, the burning of over 1.7M SHIB is likely to spark a rally for the start of 2025. Shiba Inu ...