On December 19, Shibburn data shows that the SHIB burn rate spiked by 3,915,071.74%. This led to the permanent removal of 21,611,748 SHIB from the ecosystem. The SHIB price is around 1.5% down, signaling a mild supply shock.

So far, it has destroyed a total of 410,753,929,644,556 SHIB from the initial supply of the token. This leaves the ecosystem with about 585,277,528,786,334 SHIB in circulation. With a burn rate of this magnitude, Shiba Inu has mildly reduced its circulating supply and provided an avenue for a potential price rebound.

The Shiba Inu ecosystem has seen several events, including the recent altcoin rebound, that could catalyze upside momentum but have not translated into a clear price move. CoinMarketCap currently lists SHIB around $0.000007377.

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