Recently, the crypto assets community has once again focused on Shiba Inu (SHIB). According to the latest data from the blockchain analysis platform Shibburn, the amount of SHIB burned in the past day has seen an astonishing rise. Specifically, about 1.6 million SHIB were transferred to unusable addresses, leading to a surge in the burn rate of 2196%. Among them, a large transfer of over 1.19 million SHIB became the main contributor to this wave of destruction.

Despite the surge in daily burn volume, the total burn amount of SHIB on a weekly basis is 72.26 million coins, which is still a decrease of 29% compared to last week. This indicates that the burn behavior may have certain volatility.

In terms of price performance, SHIB has not shown a significant rebound due to the increase in the amount destroyed. Over the past seven days, the price of SHIB has dropped by about 13%, currently trading around $0.00001226, with a 24-hour decline of nearly 3.22%. This trend seems to be more influenced by the overall softness of the crypto assets market led by Bitcoin.

For investors unfamiliar with the SHIB burning mechanism, this process essentially involves transferring tokens to addresses that are unusable or invalid, commonly referred to as "dead wallets." Once the tokens enter these addresses, they are permanently removed from the circulating supply. The original intention of this mechanism is to increase the scarcity of the tokens by reducing the circulating supply, which could theoretically provide support for the price.

However, it is worth noting that token burn does not guarantee a price rise in the short term. As is the case with the current SHIB situation, despite the significant increase in the amount burned, the price trend is still influenced by broader market factors. While investors should pay attention to burning data, they should also closely monitor overall market trends and the fundamental development of the project.