Shiba Inu Price: 34M SHIB Burned as Rate Spikes 1500% in 24H

On April 9, Shiba Inu (SHIB) recorded a sharp rise in its burn rate. According to data from Shibburn, about 34.21 million SHIB tokens were burned within 24 hours, resulting in a 1500% jump in the rate. Compared to the broader cryptocurrency market which appears weak still, this activity took place.

Despite the sizable token burn, SHIB’s price declined. Analysts suggest that although reducing supply can help price stability, broader market pressure continues to weigh down most altcoins, including SHIB.

SHIB Price Movement and Market Conditions

As of press time, the price of Shiba Inu traded at $0.00001092, with a 24-hour trading volume of $253 million. In the last 24 hours, SHIB has declined by 2.54%. In the entire week it is recognized by 12 percent loss and monthly trend also shows loss of 12%.

Investor sentiment across financial markets is being affected by the global market trend, including fear about trade policies and tariffs. The crypto sector has also seen weaker performance overall, making it harder for tokens like SHIB to rally even during positive supply-side events.

Breakdown of the Recent SHIB Burn

Blockchain data reveals that wallet address “0x541f60e5576” burned 17.13 million SHIB tokens in one day, accounting for nearly 50% of the total daily burns. This move aligns with the Shiba Inu community’s ongoing push to reduce token supply and strengthen price backing over time.

To date, about 410.73 trillion SHIB tokens have been burned, based on Shibburn data. However, the total circulating supply remains high at roughly 584.36 trillion tokens, leaving plenty of room for further burn activities if the community continues its efforts.

While supply reduction usually supports price increases, the immediate reaction has been muted due to larger market uncertainties. Some traders see the current phase as a waiting period for stronger shifts in global economic conditions.

Analyst Views on Future SHIB Price

Crypto market analyst Javon Marks continues to maintain an optimistic stance on Shiba Inu’s future movement. Marks stated that SHIB “still holds potential to push higher once the broader market settles,” pointing to a possible target near $0.000081.

However, Marks emphasized that reaching this target “depends heavily on market stability and continued supply cuts.” He warned that although internal efforts like token burns are helpful, external pressures need to ease before major gains can happen.

Investors are staying alert, watching burn activities closely while also tracking broader economic signals. Despite recent price drops, SHIB remains a popular asset among traders who are looking for a shift in market momentum.