SHIB Burns Jump 157,726% After 5% Dip; Exec Sees Bullish Fall
SHIB price fell roughly 5% to $0.00001204 after an 11% weekly slide, despite a sharp 157,726.72% surge in daily burn rate. On-chain data shows 2,411,616 SHIB tokens were sent to dead wallets in a single day. However, weekly burn volume remains modest at 14,068,717 SHIB, down 76.32% from earlier periods.
Lucie, a Shiba Inu marketing executive, attributed the burn spike to community-led initiatives and urged continued adoption of Shibarium, SHIB’s layer-2 scaling solution. She forecast a bullish autumn, citing potential macro rate cuts and ongoing ecosystem development as key catalysts.
Traders should watch absolute burn volumes, Shibarium transaction growth, and broader market trends. While one-day burn bursts can spark short-term rallies, sustainable demand will depend on consistent on-chain activity and real-world use cases. SHIB’s supply reduction efforts offer support, but price stability hinges on wider crypto market sentiment and macroeconomic factors.
Neutral
The substantial one-day burn spike highlights active community engagement, but its impact on SHIB price is muted by low absolute volumes and a recent 11% weekly decline. Historical burn events have prompted short-lived rallies, yet sustained gains hinge on Shibarium adoption, consistent on-chain activity and broader market sentiment. Executive optimism points to potential bullish catalysts this autumn, but the mixed signals from price dips and isolated burn bursts justify a neutral outlook.