Shiba Inu Burn Spikes 2000%—20.8M Gone in a Day

Shiba Inu’s deflationary fire just got hotter—literally. On April 15, SHIB’s burn rate went up 2,060% with 20.83 million tokens removed from circulation according to Shibburn.

These tokens were sent to a dead wallet as part of SHIB’s long term plan to reduce supply and support the price over time.

Despite the hype, SHIB didn’t exactly catch fire. The price dipped 3% and went below $0.00001200 and now hovering around $0.00001193. For many holders it was a reminder that burns help but don’t always ignite price action—especially when you’re up against a supply of 584.37 trillion tokens.

Supply vs Sentiment: The Ongoing Debate

An X user known as “wallstreetbets,” identified as a Wall Street financial expert, claimed that “Despite burns, SHIB supply remains unchanged.”

Despite burns, SHIB supply remains unchanged. In the world of crypto, size doesn’t matter: it's the thought that counts.

— wallstreetbets (@wallstreetbets) April 11, 2025

Not quite true—the supply is decreasing but the point hit a nerve. Burns alone won’t move markets without strong demand to match.

Technical Snapshot: Is SHIB setting up for a bounce?

On the charts SHIB is sitting just above support at $0.00001195—a level that bulls have defended several times this month. But the token has dropped below its 50 period EMA at $0.00001209—a short term warning sign.

$SHIB has 589 trillion supply and burned 2.3 billion $SHIB during all of March 2025 🐶 (https://t.co/xqGYR6bW9c)$CWIF has 30.6 trillion supply and averaged 5.7 billion daily $CWIF burns during the past 30 days 🧢 (https://t.co/NYZ7Mq66Rt) pic.twitter.com/ZcSs9xfhl3

— Catwifhat $CWIF (@catwifhatsolana) April 14, 2025

The RSI is at 41 getting close to oversold. That could mean sellers are losing steam but a reversal isn’t confirmed yet.

Key Levels to Watch:

• Support: $0.00001195

• Resistance: $0.00001269 and $0.00001307

• Current Price: $0.00001193

A close above $0.00001238 could trigger a quick move to the next resistance at $0.00001307. But until then SHIB is stuck in a sideways range.

Trade Setup: Tactical Over Hype

The SHIB Army is hopeful with community voices like SHIB Knight hinting at a possible “pump wave”. But given the market’s jitters and the fast fade of meme coin hype, traders might want to trade with strategy—not just sentiment.

Short-Term Trade Idea:

• Entry: Buy near $0.00001200 if support holds

• Target: $0.00001269 – $0.00001307

• Stop Loss: $0.00001149

Wait for a confirmation candle or RSI bounce before buying. Additional burn announcements or Shibarium updates could be the catalyst.

Conclusion

SHIB’s recent burn is a big sign of community commitment—but that alone might not be enough to spark a full breakout. In this market price movement comes from a mix of burn mechanics, technicals and fresh demand.

Until those stars align SHIB’s best bet is to hold the line and build slow and steady momentum from support.