Shiba Inu Burn Jumps 8M Amid First Spot SHIB ETF Filing
Shiba Inu burn rate surged 208%, removing 7.94 million SHIB tokens in 24 hours according to Shibburn data. This reduced total supply from 1 quadrillion to about 585.2 trillion SHIB. The spike coincided with a major US asset manager with $1.7 trillion AUM filing the first US spot Shiba Inu ETF. Renewed on-chain activity and investor optimism lifted SHIB price 2.49% to $0.00001014. Weekly burn metrics also climbed, reinforcing a sustained deflationary trend. The ETF proposal places SHIB alongside Bitcoin, Ethereum, XRP and Solana in regulated investment products, potentially boosting liquidity and institutional exposure without direct token ownership. This confluence of token burn and institutional interest may fuel a bullish outlook for Shiba Inu in both the short and long term.
Bullish
The significant SHIB burn and the first US spot Shiba Inu ETF filing together reduce token supply and open regulated institutional channels. Historically, token burns ease selling pressure while ETF approvals often drive demand. The 208% surge in burn rate and 2.49% price gain reflect renewed investor optimism. In the short term, reduced supply and on-chain momentum could trigger further breakouts. Over the long term, institutional exposure via a spot ETF may enhance liquidity, broaden adoption and support sustained bullish trends for Shiba Inu.