Shiba Inu: Over 1.7 billion SHIB burnt by the end of 2024, will it create a new wave in 2025?

Over 1.7 billion Shiba Inu (SHIB) tokens were burned in the last week of 2024, raising questions about the future of this meme coin in 2025. SHIB recorded a slight burn in a notable move just before the end of 2024. The project saw over 1.7 million SHIB tokens removed from circulation in a large burn. At the time of reporting, SHIB is trading at $0.00002124, down 33% in the past 30 days. Before this downturn ends in 2024, Data from Shibburn shows that the burn rate of Shiba Inu has surged by 243.34% in the past 24 hours. Specifically, 1,717,872 SHIB tokens have been sent to dead wallets on the network. Burning Shiba Inu tokens is a commonly measured statistic when understanding asset prices and circulating supply. Burning SHIB tokens is done to maintain a solid value by manipulating the amount of SHIB at a certain point in time. With the token price decreasing in December, burning over 1.7 million SHIB tokens could potentially ignite a price increase in early 2025.

Shiba Inu closes out 2024 with a massive trading volume On December 31, the market volume of Shiba Inu surged significantly by 31.11% to $538.36 million as market participants joined the frenzy of trading on the last day of the year. This asset is expected to have a strong start in 2025, with price predictions signaling an increase in January. Analysts predict that burning billions of dollars worth of SHIB will be one of many catalysts for this increase. Additionally, analysts believe that for SHIB to retest higher prices by 2025, the community must participate more and developers must deploy new projects to encourage participation.

Before 2025, Shytoshi Kusama, the mysterious leader of Shiba Inu, has promised an exciting year with optimistic plans for the ecosystem. According to Kusama, 2025 will be "grand." Most meme cryptocurrency and altcoin markets are optimistic at the start of 2025, and SHIB hopes to be one of the leaders. According to CoinCodex, Shiba Inu is expected to trade in the range of $0.00001782 to $0.00009306 in 2025, with an average annual price of $0.00003609. Compared to the current price, this could potentially bring a potential investment profit of 327.75%. However, in the first month of 2025, Shiba Inu is expected to trade at a maximum price of $0.00004582, a significant improvement compared to the current price.