Shiba Inu Burn Rate Surges 1,431% In Single Day: What Is Going On?

Shiba Inu (CRYPTO: SHIB) is seeing a new spike in its burn rate spike, just a day after Dogecoin's ETF debut energized meme coin markets.

Trader Notes: Crypto trader Javon Marks highlighted Shiba Inu's confirmed bull signal, forecasting a potential +138% rally toward $0.000032. "It's now a matter of timing only," he wrote.

InvestingHaven pointed out SHIB is consolidating around $0.000013 following a flash loan exploit that shaved 5% off its value.

With Shibarium upgrades and auto burns tightening supply, analysts called the move a "tactical pullback" but warned risks remain.

Statistics: Shibburn data shows 1.07 million SHIB were burned from the ecosystem over the past 24 hours, pushing the burn rate higher by 1,431.4%.

However, Shibariumscan data shows daily transactions have been on the decline since late August when it lost the 4 million mark.

CoinDesk reported Shiba Inu whale activity intensified with more than 7 trillion SHIB moved on-chain on Saturday, which also included 512 billion SHIB transferred from Kraken to undisclosed addresses.

Community News: During the week, Shiba Inu confirmed its Layer-2 network, Shibarium, was hacked, with $4 trillion in crypto stolen.

The team is offering a 50 ETH (~$229,000) bounty for the attacker to return the funds.

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