In the last 24 hours, Shiba Inu’s burn rate crashed into the negative. As reported, 7,082,219 SHIB were burned in the day preceding Sept. 27. From over 7 million SHIB tokens burned a day before, Shiba Inu burns fell not to a million but to less than 100,000 SHIB.
In the past day, Shiba Inu burn sentiment fell, leading to a drop in tokens burned. According to Shibburn, 69,690 SHIB were burned, leading to a 99.02% drop in daily burn rate. Meanwhile, in the past seven days, there has been an uptick in burn rate with over 9 million tokens burned.
In the last seven days, a total of 9,008,428 SHIB have been burned, according to Shibburn, resulting in a 365% surge in weekly burn rate. This suggests the peculiarity of the drop in the last day, as it might be a temporary lull in token burns.
Shiba Inu’s total supply is now 589,247,696,994,906 SHIB out of an initial 1 quadrillion tokens.
Shiba Inu Q4 rally?
At the time of writing, SHIB was down 0.32% in the last 24 hours to $0.00001176 and down 9.10% weekly.
Shiba Inu is down 3.53% so far in September, in line with a price tendency seen in the last two years.
Shiba Inu finished 2023 and 2024 higher, with gains of 23% and 104%, respectively, aided by positive Q4 performance in both instances. In 2023, while SHIB’s price was mostly flat for the larger part of the year, it saw a rise in Q4, increasing in the months spanning from October to December.
The same was witnessed in 2024, as the Shiba Inu price declined for months, only to stage a last-minute Q4 rally to close the year 104% higher. Shiba Inu rose from a low of $0.00001231 in September of that year to reach a high of $0.00003344 in December, a 171% surge. From both instances, a trend seen for Shiba Inu is that of last-minute Q4 rallies. Whether history will rhyme in the current Q4 will be closely watched in the months ahead.