Shiba Inu Hits 1550% Burn Rate as SHIB Price Targets $0.001 With Ecosystem Growth

Shiba Inu’s remarkable 1550% burn rate surge wiped out 33M SHIB tokens in one day, propelling market optimism for a price rally to $0.001 as the ecosystem gains traction.

Shiba Inu Burn Rate Soars 155500%

The official tracker of the community, Shibburn, recently posted on X that the SHIB burn rate has increased by 155500%, highlighting the significant impact on the supply that is currently circulating. In the last day, 33.01 million coins were burned, contributing to the increase in the burn rate, according to the data that was released.

To set the scene, the main goal of the Shiba Inu token burn mechanism is to permanently decrease the amount of tokens in circulation. Therefore, following the rule of supply and demand, market players expect the top meme coin's future movements to be favorable.

Weekly Burn Figures Boost SHIB Price Sentiment

At the same time, the asset's market sentiment was boosted by weekly burn figures showing that 44.03 million tokens were removed from circulation. The leading dog-themed meme coin has maintained its bullish market attitude thanks in large part to recent ecosystem advancements.

Shytoshi Kusama, the chief developer of the cryptocurrency, has reportedly verified the introduction of the TREAT token, according to CoinGape.

TREAT Token Anticipation Fuels Ecosystem Growth

Market participants are eagerly anticipating this chronicle, which is anticipated to greatly benefit the larger ecosystem. At the same time, market observers are keeping a close check on the Shiba Inu price because they expect significant gains in 2025, mostly due to community developments and ongoing SHIB burning.

At the time of writing, the SHIB price is $0.00002264, reflecting intraday gains of 2%. In a 24-hour period, the meme coin's value dropped to $0.00002198 and then soared to $0.00002294. It is worth mentioning that the price increase is in line with the dramatic increase in the SHIB burn rate.

Shiba Inu Eyes $0.001 Price Target

In addition, CoinGape's latest Shiba Inu price study provides more justification for the token's imminent $0.001 price objective this month. It is crucial for the cryptocurrency to break over the $0.000025 significant barrier level.

In addition, Shibarium's increasing acceptance and advancements in the wider ecosystem have tipped the scales in favor of the bulls. Given the ongoing reduction in supply, it is reasonable to set a price objective of $0.001 going forward. Additionally, market experts predict that the bull cycle will continue in 2025.