SHIB Burn Rate Increases 57.069% Thanks to Huge Contribution from Anonymous Whale
Shiba Inu (SHIB) has been in the spotlight this past week as an anonymous whale contributed 2 billion tokens to the burn fund, reducing the supply and creating momentum for the coin’s value.
Anonymous Whale Drives SHIB Burn
On March 23, 2025, a whale in the Shiba Inu community transferred 1 billion SHIB to the burn fund, as tracked by the SHIB burn tracker. Three days later, on March 27, the whale transferred another 1 billion SHIB, along with other tokens such as Bone ShibaSwap (BONE) and DogeKiller (LEASH). These contributions increased the SHIB burn rate by 57.069% in 24 hours, reducing the circulating supply and creating scarcity.
SHIB Price Faces Important Resistance
Despite the SHIB Burning Effort, the price of the coin is still struggling with important resistance levels. Currently, SHIB is trading at $0.0000404, which is above the middle Bollinger Band. Investors are eyeing the price range from $0.000015 to $0.000019, where a large volume of SHIB is held by many addresses, forming a barrier that needs to be overcome to pave the way for further growth.
Challenges and Prospects
Although the SHIB burn helps reduce the supply, the number of tokens burned in three days is only equivalent to about $28,500, divided equally between the two transactions. Currently, about 41% of SHIB holders are in profit, showing interest and expectations for the coin. However, factors such as trading volume and market sentiment will continue to influence the value and growth of SHIB in the future.
Overall, Shiba Inu is going through a volatile period with efforts to reduce supply through token burning. However, to achieve sustainable growth, the coin needs to overcome price resistance challenges and maintain interest from the investment community.