- SHIB burn rate jumped 208%, removing nearly 8 million tokens in 24 hours.
- A major U.S. firm filed the first-ever Shiba Inu spot ETF.
- SHIB price rose 2.49% amid renewed investor optimism and rising network activity.
The Shiba Inu community has something new to celebrate. After weeks of quiet trading, the meme coin is back in focus following a surge in token burns and an exciting ETF development. Nearly 8 million SHIB were removed from circulation in just 24 hours, marking a strong rebound in on-chain activity. This sudden increase comes right as the first-ever Shiba Inu spot ETF filing hits the headlines, reigniting interest across the market.
Burn Rate Soars as Activity Returns
Data from Shibburn shows a 208% jump in Shiba Inu’s burn rate over the past day. A total of 7,943,107 SHIB have been permanently destroyed, tightening the circulating supply. The total number of SHIB now stands at roughly 585.2 trillion, down from the original one quadrillion. While the burn volume may seem small compared to the total, the sharp increase signals renewed engagement among holders.
Rising burns often reflect growing optimism. After a period of sideways price movement, traders are showing signs of returning to the SHIB ecosystem. The token has climbed about 2.49% in the last 24 hours, trading near $0.00001014. Many investors see the combination of a shrinking supply and ETF interest as a potential setup for stronger momentum in November.
ETF Filing Brings Institutional Attention
Shiba Inu’s burn spike also hints at higher transaction activity. Increased network usage often goes hand in hand with improved sentiment, suggesting that SHIB’s community-driven push is gaining strength again. For long-time supporters, the recent burn surge is a welcome sign of progress and renewed enthusiasm. The real spotlight, however, shines on the ETF news.
A major U.S. investment firm managing more than $1.7 trillion has officially filed for a spot Shiba Inu ETF. This marks the first time SHIB has appeared in such a filing, placing it alongside established assets like Bitcoin, Ethereum, XRP, and Solana. This development could open the door to institutional participation in the Shiba Inu market.
An ETF listing would allow traditional investors to gain exposure to SHIB without directly holding the token, potentially driving broader adoption. The move also signals growing acceptance of meme coins as legitimate digital assets within regulated financial markets. Investor optimism has risen sharply following the announcement.
The combination of strong community engagement, a higher burn rate, and institutional involvement is fueling expectations of a rally. If the ETF gains approval, SHIB could see a meaningful uptick in both volume and valuation in the weeks ahead. Shiba Inu’s burn rate jumped 208% in one day, removing nearly 8 million tokens. The first-ever SHIB ETF filing by a major U.S. firm added fresh excitement to the market.
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