Shiba Inu Witnesses Astonishing 1411% Price Surge, Erasing Zeroes from its Value

Shiba Inu (SHIB), the cryptocurrency inspired by memes, experienced a remarkable surge of 1411% in its burn rate within the past 24 hours, resulting in the removal of an impressive 61 million SHIB tokens from circulation.

This surge has not only caught the attention of the SHIB community but has also led to a reduction in its price, sparking interest in the wider crypto community.

Data from Shibburn reveals a staggering 1411% increase in Shiba Inu’s burn rate, eliminating 61 million SHIB tokens within the past day. This unexpected surge in burning has sparked discussions within the SHIB community, with the burn rate consistently staying negative throughout the day.

Notably, two wallets with addresses 0xf8791b43…ccbb3 and 0x0327cb7f…76c9f played a significant role in a massive burn, using up 27 and 21 million SHIB tokens in one transaction. This significant burn has played a crucial role in the recent advancement of the SHIB burn rate.

Amidst the excitement of the burning, a total of 410.7 trillion SHIB tokens have been permanently removed from the initial supply. As the Shiba Inu burn excitement continues, the price is on the verge of a historic moment, poised to shed one more zero and briefly touch the $0.00001 mark.

This significant milestone, eagerly awaited by the SHIB community, evokes a mix of hope and doubt within the crypto world.

As of now, the Shiba Inu price has risen by 3.89% in the last 24 hours, trading at $0.000009323. The trading volume has increased by 52.89%. Additionally, the recent price jump has elevated this meme-based crypto token to the 19th spot in terms of market rankings, boasting a market cap of $5.4 billion.

When examining other meme coins, Dogecoin (DOGE), the first in this category, sits at the 11th position with a price of $0.08128. It has experienced a slight 0.1% increase in the last hour and a 3.9% increase over the past seven days, with a market cap of $11.6 billion.

Other players like Bonk (BONK) saw a significant 17.1% increase over the week, while CorgiAI (CORGIAI) had a modest 0.6% weekly growth. Pepe (PEPE) and Dogwifhat (WIF) show different trends, highlighting the unpredictable nature of meme coins.

Did you know? Traders have recorded gains in the millions with Solana’s meme coin, WEN, leading some to believe it could be the new Shiba Inu.