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Shiba Inu Burn Rate Spikes 22,000% — Can SHIB Price B eat New Meme Coins Like FARTCOIN and PEPE?

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Joe M
  • Shiba Inu’s burn rate spiked over 22,000% in 24 hours, signaling a potential price rally as active addresses hit a two-month high.
  • However, SHIB still lags behind newer meme coins like FARTCOIN, which surged 196% in the past month.

Shiba Inu (SHIB), once the undisputed king of meme coins after Dogecoin, is showing new signs of life as its burn rate explodes by over 22,000% in just 24 hours. But with fierce competition from newer meme coins like FARTCOIN and PEPE, can SHIB still stay relevant—or even lead—the meme coin pack?

In the last 24 hours, more than 27 million SHIB tokens were incinerated, with one wallet alone accounting for over 15 million. This massive token burn coincides with a surge in user activity, with Shiba Inu’s active addresses hitting a two-month high of 23,014, according to data from Santiment. This renewed network activity is often viewed as a bullish indicator, raising hopes for a potential price rally.

Also read: CZ Slams Gold’s Unlimited Supply, Backs Bitcoin as the Superior Store of Value

Despite these developments, SHIB is still trading in the red, slipping 2% to $0.000013 at the time of writing. The dip comes amid broader market volatility as Bitcoin struggles to hold above the $96,000 mark. Meanwhile, newer meme coins are outperforming: FARTCOIN has surged 196% over the past month, while PEPE posted a respectable 23% gain. In contrast, SHIB has managed just a 9% uptick, highlighting investor preference for higher-risk, high-reward assets.

Still, analysts suggest that the tide may turn. Shiba Inu is currently attempting to break out of a long-term descending channel. If it clears resistance at $0.0000173 and its Relative Strength Index (RSI) crosses above 50, it could confirm a bullish reversal and spark an extended rally.

Capital rotation from established meme coins to newcomers may slow if SHIB continues showing strong fundamentals like rising burns and increased wallet activity. For now, Shiba Inu isn’t down for the count—but it’s clear the meme coin arena has never been more competitive.

SHIB’s massive burn rate and rising activity hint at a potential comeback, but it must break key resistance levels and attract sustained investor interest to rival explosive newcomers like FARTCOIN.