Over 1.7 billion Shiba Inu tokens (SHIB) were burned in the final week of 2024, raising questions about the meme coin’s future in 2025. SHIB recorded mild incineration in a notable move just before 2024 came to a close. The project saw over 1.7 million SHIB tokens taken out of circulation in a massive burn. At press time, SHIB is trading at $0.00002124, down 33% in the past 30 days.
In light of this downturn to close out 2024, Data from Shibburn reveals that the Shiba Inu burn rate soared by 243.34% in the last 24 hours. Specifically, 1,717,872 SHIB tokens were sent to dead wallets on the network. The burning of Shiba Inu tokens is an often-measured statistic when understanding the asset’s price and circulating supply. The burning of SHIB tokens is done to keep a strong hold on value by manipulating how much SHIB there is at a given time. With the token’s price down in December, the burning of over 1.7M SHIB is likely to spark a rally for the start of 2025.
Shiba Inu Closes Out 2024 With Massive Trading Volume
On December 31, Shiba Inu’s market volume soared by a significant 31.11% to $538.36 million as market participants engaged in the last trading frenzy on the last day of the year. The asset expects a strong start to 2025, with price predictions signaling gains this January. The multi-billion SHIB burn will be one of multiple catalysts for this surge, analysts predict. Additionally, analysts suggest that for SHIB to retest higher prices in 2025, the community has to engage more and developers roll out new projects to boost participation.
Also Read: AI Predicts Dogecoin Price for January 1, 2025
Ahead of 2025, Shytoshi Kusama, the mysterious Shiba Inu lead, pledged an exciting year, with bullish plans for the ecosystem. According to Kusama, 2025 will be “epic.” Most of the meme coin and altcoin market is bullish to kick off 2025, and SHIB expects to be one of the leaders out the gate.
According to CoinCodex, it is projected that Shiba Inu will trade in a channel between $0.00001782 and $0.00009306 in 2025, with an average yearly price of $0.00003609. Compared to the present rates, this may yield a potential return on investment of 327.75%. But in the first month of 2025, Shiba Inu is expected to trade at a maximum price of $0.00004582, a massive improvement over current prices.
