Shiba Inu Burn Rate Spikes 1,083% As Key Metrics Climb: What Is Going On?

Despite broader market weakness, Shiba Inu SHIB/USD is holding its ground, with burn rate and key metrics showing strength.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Shiba Inu SHIB/USD	$0.00001267	$7.5 billion	+2.3%	-10.6%
Dogecoin DOGE/USD	$0.1754	$26 billion	-4.9%	-20.7%
Pepe PEPE/USD	$0.0₅6418	$2.7 billion	+3%	-23.1%

Trader Notes: On Saturday, TradingView analyst The Hunters Company noted that SHIB's price correction near resistance presents a potential buying opportunity.

Crypto chart analyst Ali Martinez stated in an X post on March 7 that SHIB must hold above $0.000013 to sustain bullish momentum. If buying pressure increases at this level, he predicts a rally toward $0.000020 could follow.

#ShibaInu $SHIB is holding strong above the critical $0.000013 support. If buying pressure picks up at this level, a rally toward $0.000020 could be in play! pic.twitter.com/YjfA61A1tk
— Ali (@ali_charts) March 7, 2025

Statistics: Shibburn data shows 20.6 million SHIB were burned over the past 24 hours, with a single transaction removing 19.4 million SHIB around 18 hours ago. This pushed the burn rate higher by 1,028.3%.

IntoTheBlock data shows large transaction volume and daily active addresses increased 16.2% and 17%, respectively. Transactions greater than $100,000 widened from 66 to 78 in a single day.

Shibariumscan data shows a marginal spike in daily transactions from 73,000 to 185,000.

Community News: Shiba Inu's marketing lead Lucie expressed confidence in SHIB's long-term potential.

In a recent X post, she stated: "SHIB is our BTC."

She linked SHIB's ecosystem, including TREAT, BONE, SHEB, LEASH, Shiboshis, and Shib: The Metaverse, as essential components of its growth. Lucie also attributed recent liquidations to "political fearmongering and manipulation."

In another post, she made a bold prediction: "SHIB will rise—like a phoenix, but bigger and brighter."

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