Within the past 24 hours, Shiba Inu (SHIB) burn activity has surged dramatically, with millions of tokens permanently removed from circulation. Despite this massive supply reduction, the meme coin’s price remains unchanged, maintaining near-record lows as market forces fail to translate burning momentum into upward movement.
Burning Activity Reaches Unprecedented Levels
According to on-chain data, a single burning event saw over 13 million SHIB tokens sent to dead wallets, marking one of the largest purge operations since the token’s inception. This massive supply contraction should theoretically create deflationary pressure, but current market dynamics contradict conventional economic principles.
