More than 6 million SHIB tokens have just disappeared from the market in the space of 24 hours. These tokens were sent to burn addresses, permanently removed from circulation. This hasn’t happened in several weeks. 🔥
🔍 What’s going on?
According to data from the Shibburn platform, exactly 6,079,210 SHIB tokens were burned over the past 24 hours. The daily burn rate increased by 37.28% during this period. This operation is part of the deflationary strategy driven by the community for several years to reduce the available supply.
However, the weekly burn rate remains down by 40.56%. The pace of token destruction varies significantly from period to period, with no consistent pattern. In terms of price, SHIB has risen by about 2% over the past 24 hours and 3% over the week, trading at around $0.00000641.
💡 Why does this matter?
The memecoin maintains an active user base, particularly in Asia. In India, on the WazirX exchange, SHIB ranked second among the most traded cryptocurrencies in April, just behind Bitcoin. It outperformed Ethereum, Dogecoin, and XRP.
The macroeconomic context also played a role. The latest U.S. jobs report showed 115,000 jobs created in April in the United States. This figure temporarily boosted risk appetite for speculative assets, including memecoins. But a reduction in supply does not automatically guarantee a sustained price increase.
📊 Our take
We remain skeptical of this repeated burning strategy. Burning 6 million tokens out of a total supply in the hundreds of trillions is a drop in the bucket.
The SHIB community is banking everything on scarcity to create value, but without any real utility for the token or technical innovation behind it, it’s all just hot air. Volumes on WazirX show a loyal base, certainly, but one that’s mainly concentrated in emerging markets where speculation dominates. A 2–3% rebound is insignificant in a market that can swing 10% in either direction in a matter of hours. French traders should be wary: the AMF has never hidden its stance on memecoins, which it considers high-risk assets lacking solid fundamentals.
Our projection: without a major catalyst, SHIB is likely to stagnate. For French traders: avoid allocating more than 1–2% of your capital to this type of purely speculative asset.
✅ Key takeaway
- 6,079,210 SHIB burned in 24 hours, burn rate up 37.28%
- SHIB remains heavily traded in India, ranking 2nd on WazirX in April
- Token price at $0.00000641, up 3% over the week
- Weekly burn rate down 40.56%, irregular pace
- Supply reduction insufficient to guarantee a sustainable price increase
What do you think? Can SHIB’s regular burns truly create long-term value, or is it just community marketing with no real impact?
🔎 See also
To learn more, check out all our crypto analyses on ActuTrading Crypto 📈
Source: Shibburn, financial press
