With a recent 3000% surge in Shiba Inu's (SHIB) token burn rate, positive market trends are emerging. These changes may influence the future of this cryptocurrency asset.
SHIB Token Burn and Its Supply Impact
Shiba Inu's deflationary strategy has intensified, with a dramatic rise in SHIB token burns. Shibburn data confirms that 521 million SHIB tokens were permanently removed from circulation in just one day. This marks a 3008.92% increase in daily burn activity, now sitting at 537 million tokens. One wallet, ending in **2019a**, was responsible for burning over 500 million SHIB within 12 hours. The total supply of SHIB is approximately 589.25 trillion, with around 584.52 trillion remaining active. Since its launch, over 410.74 trillion SHIB have been burned, reflecting ongoing community efforts to reduce supply.
Current Price Trends for SHIB
As of now, Shiba Inu (SHIB) is trading at **$0.00001217**, up 3.31% over the last 24 hours. The token climbed from a session low of **$0.00001183**, forming higher lows along the way. This pattern suggests strong bullish momentum despite earlier volatility. The immediate support level remains at **$0.00001183**, where price action previously rebounded. Resistance is currently near **$0.00001220**, which has capped recent attempts to move higher. A confirmed breakout above this range could open the path to the next key resistance at **$0.00001250**.
Shibarium's New Infrastructure and Its Impact on Tokens
The Shiba Inu team has introduced **Shib Alpha Layer**, a new framework within its Layer-2 blockchain, **Shibarium**. This feature allows developers to deploy custom blockchains, called **RollApps**, in minutes. All transactions from these RollApps settle on Shibarium, increasing the network’s transaction load. The update is expected to significantly boost the usage of **BONE**, the gas token for all Shibarium transactions. Documentation on **shib.io** projects a 30–50% rise in BONE’s utility as a direct result of increased on-chain activity.
The increase in SHIB token burns and the development of new technologies within the Shiba Inu ecosystem may positively influence supply and demand, creating optimism among investors and traders.
