Shiba Inu Price Drops Despite 13 Billion Tokens Burned in 24 Hours

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The Shiba Inu (SHIB) price remains under pressure despite a significant deflationary move by its development team—burning over 13 billion tokens in just 24 hours. While such large-scale token burns typically signal bullish sentiment by reducing supply, SHIB’s market performance has told a different story, raising questions among investors and analysts alike.

This article explores the recent burn event, analyzes market reactions, examines technical outlooks, and dives into the growing campaign to list BONE—the governance token of the ShibaSwap ecosystem—on Binance.

Massive Token Burn Fails to Boost SHIB Price

In a surprising turn of events, Shiba Inu developers executed two major token destruction transactions within a single day, eliminating a total of 13.4 billion SHIB tokens from circulation. The burn activity caused the SHIB burn rate to surge by an astonishing 23,133% over 24 hours.

The first transaction removed 9.6 billion SHIB tokens, valued at approximately $332,000**, followed by a second burn of **3.8 billion tokens** worth around **$131,384. Combined, these deflationary actions took nearly $463,400 worth of SHIB out of the market.

Additionally, developers burned:

These coordinated burns were carried out on the Ethereum blockchain and confirmed via public transaction records. While the move was celebrated within the community for reinforcing long-term scarcity, it has not yet translated into positive price momentum.

👉 Discover how token burns can impact cryptocurrency value and what this means for your portfolio.

Why Isn’t the Market Reacting Bullishly?

Despite the aggressive burn strategy, SHIB’s price has declined more than 23% from its yearly high reached on March 5, highlighting a disconnect between fundamental actions and market sentiment.

Several factors may explain this muted reaction:

“These burns were conducted by the Shiba developers, but they wouldn’t have been possible without the Shibarium builders and users… There are people who just farm engagement by talking about burns, and then there are those who are actually working on progress—understand the difference,” said Lucie, a prominent Shiba Inu community influencer.

Her comments underscore a growing sentiment that real network adoption—driven by developers and users on Shibarium—is more valuable than symbolic token destruction.

Technical Outlook: Is a Breakout Imminent?

Despite current price weakness, some technical analysts see potential for recovery. Ali Martinez, a well-known crypto analyst, identified a symmetrical triangle pattern forming on SHIB’s 4-hour chart—a classic sign of market consolidation before a breakout.

“Shiba Inu forms a symmetrical triangle on the 4-hour chart. A sustained close above the $0.000038 resistance could trigger a 40% bullish breakout, pushing SHIB toward $0.000052,” Martinez noted.

A breakout above this key level would signal renewed buying pressure and could attract algorithmic traders and short-term speculators back into the market.

Conversely, failure to break resistance may lead to further downside, with initial support seen near $0.000032.

ShibArmy Mobilizes for BONE Listing on Binance

In parallel to the burn event, momentum is building around another major initiative: getting BONE, ShibaSwap’s governance token, listed on Binance.

Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, has called on the ShibArmy to participate in Binance’s new Futures NEXT Program, which allows users to vote on potential future listings.

“This is light work. I’ll be posting this tomorrow as well. I’ve called in the K9 unit and the Bad Brigade for help. Who else will stand with us?” Kusama tweeted.

Although Binance emphasizes that voting does not influence final listing decisions, strong community support often plays an informal role in prioritizing assets.

As of now:

BONE is far more than a meme token—it plays a critical role in the Shibarium Layer 2 network, where it is used for:

A Binance listing would significantly increase BONE’s visibility, liquidity, and credibility—potentially benefiting the entire Shiba Inu ecosystem.

👉 Explore how exchange listings can transform low-cap cryptocurrencies into high-growth opportunities.

Core Keywords and SEO Optimization

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These terms align with common search queries related to SHIB’s ecosystem, price movements, and community-driven initiatives.

Frequently Asked Questions (FAQ)

Why did Shiba Inu burn 13 billion tokens?

The burn was part of a deflationary strategy aimed at reducing SHIB’s circulating supply over time. While the immediate price impact has been limited, such actions are intended to increase scarcity and long-term value accrual.

Does burning SHIB tokens increase the price?

Not necessarily. While burning reduces supply, price appreciation depends on demand. With SHIB’s supply still extremely large and market sentiment neutral-to-bearish, the effect has been minimal so far.

What is BONE used for in the Shiba Inu ecosystem?

BONE is the governance and utility token of ShibaSwap and powers the Shibarium Layer 2 network. It enables staking, transaction fee payments, and community voting on protocol upgrades.

Can BONE be listed on Binance?

There is no guarantee, but Binance’s Futures NEXT Program allows users to vote on potential listings. BONE currently ranks third in nominations—a strong indicator of community support.

What is Shibarium and how does it affect SHIB?

Shibarium is Shiba Inu’s Layer 2 scaling solution designed to enable fast, low-cost transactions. Increased usage generates burn activity and staking demand for ecosystem tokens like BONE and LEASH, indirectly supporting SHIB’s utility.

Is Shiba Inu a good long-term investment?

SHIB remains highly speculative. Its long-term viability depends on sustained development of Shibarium, real-world adoption, and ecosystem growth beyond meme-driven hype.

👉 Stay ahead of crypto trends and track emerging Layer 2 projects with real utility.

Final Thoughts

While the recent burning of over 13 billion SHIB tokens demonstrates ongoing commitment from developers, market response remains cautious. For sustained price growth, Shiba Inu needs more than symbolic acts—it requires broader adoption, exchange visibility for BONE, and continued innovation on Shibarium.

Investors should monitor both technical indicators and ecosystem developments closely. The path forward hinges not just on community enthusiasm but on measurable progress in utility and decentralization.

As always in crypto, patience and research are key.