Shiba Inu (SHIB) Burn Rate Spikes by 37937% as Millions of Tokens Are Permanently Removed from Circulation

Shiba Inu has seen a dramatic increase in its burn rate, with over 280 million tokens permanently removed from circulation in a single day.

Shiba Inu (CRYPTO: SHIB) experienced a dramatic surge in its burn rate, with over 280 million tokens permanently removed from circulation in a single day. This represents a 37,937% increase in the burn rate, according to on-chain tracking service Shibburn.

The massive token burn highlights the Shiba Inu team's commitment to their strategy of creating scarcity. With the circulating supply now reduced to 584,418,740,458,583, this move aims to drive up the value of the popular meme coin.

This five-digit spike in SHIB's burn rate marks a strong comeback after several weeks of negative trends. The burn shows renewed interest from both whale investors and smaller holders in the token.

However, despite this aggressive burn strategy, SHIB's price has not responded positively in the short term. At the time of reporting, SHIB was changing hands at $0.00001334, down 1.54% over 24 hours.

The token had reached a high of $0.00001352 during the same period. This suggests that even large-scale token burns may not have an immediate impact on price.

Historically, however, sustained burn programs have benefited SHIB's long-term performance. The Shiba Inu team appears to be playing a longer game with these strategic burns.

Analysts Turn Bullish

Several market analysts have recently shared optimistic price predictions for SHIB. The token has been trading in a tight range between $0.00001344 and $0.00001351, showing a weekly gain of 7.87%.

Trader Mike, a well-known analyst, has drawn parallels to SHIB's explosive 2021 rally. During that period, the token surged from $0.00000600 to $0.00008869 in less than a month.

He entered a position on April 9 when SHIB was trading at $0.0000167. His multiple price targets are $0.00004529, $0.00004595, $0.00005414, $0.00007526, and potentially reaching the previous peak of $0.00008869.

Trader Mike identified $0.00003000 as the "Trend Killer" resistance level that SHIB needs to break through. Despite approaching this level multiple times, the token has not yet broken above it convincingly.

Another analyst, Jonathan Carter, noted that Shiba Inu has broken out of a falling wedge pattern. This technical formation is often a signal of an upcoming bullish reversal in the market.

#SHIB

Shiba Inu has broken through the descending channel on the daily chart🔍

Current price action suggests targets at $0.00001510, $0.00001850, $0.00002110 and $0.00002460 which could double current price😉 pic.twitter.com/7tVq6Jkdd5

— Jonathan Carter (@JohncyCrypto) April 28, 2025

Pattern Suggests Major Upside

Javon Marks has identified an Inverse Head & Shoulders pattern forming on SHIB's chart. This classic technical setup is widely regarded as a strong bullish indicator.

$SHIB (Shiba Inu) is still holding in what looks to be a massive Inverse Head & Shoulders pattern and as prices look to be in the final shoulder of this pattern, a surge can be looming and it could be towards our larger breakout target OVER +512% AWAY at $0.000081 🔥… https://t.com/Hachq6l4Kt pic.twitter.com.com/dinK1YvZid

— JAVON⚡️MARKS (@JavonTM1) April 22, 2025

According to Marks, if this pattern completes as expected, SHIB could surge over 512% toward a price level of $0.000081. The token appears to be forming the final shoulder of this pattern now.

Recent whale activity has also caught the community's attention. A massive SHIB transfer involving billions of tokens to a major U.S. exchange was reported earlier today.

While this transfer could signal a major sale or preparation to sell, it may have contributed to the recent price decline. This activity might have further motivated the team to accelerate their burn strategy.

The current burn rate increase represents the team's response to market conditions. By