Shiba Inu Burns Record 401 Million Tokens Amid 40% Price Surge

Shiba Inu's (SHIB) price surged nearly 40% in a day, but that was just half the story. The meme coin's deflationary wave spiked by a record 5,223.98% over the past 24 hours, permanently destroying 401 million tokens.

This massive burn rate is unprecedented in Shiba Inu's history and completely rewrote its weekly statistics. Over the past seven days, the burn rate increased by 816.02%, removing 457 million SHIB from circulation.

The sudden deflationary wave was driven by a $700 million market surge, which pushed Shiba Inu's price to $0.00000540 and its market capitalization to $3.18 billion. However, the burned tokens are a microscopic drop in an enormous ocean, as SHIB's total supply still stands at 589 quadrillion.

The market's attention is now focused on whether Shiba Inu's price can sustain this momentum or if mass profit-taking will push it back down.