Shiba Inu Burn Rate Jumps 2,000% as TREAT Token Goes Live for Trading

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Speaking of Shiba Inu, known as SHIB and currently valued at $0.000021, it’s the second-biggest meme coin in the digital asset market. Recently, it made headlines by introducing its reward token, TREAT, on three prominent cryptocurrency exchanges: Bitget, KuCoin, and Gate.io. Furthermore, there’s been a notable increase in SHIB burning, with over 21.06 million tokens being removed from circulation within the last 24 hours.

Based on Shibburn’s statistics, the burn rate for Shiba Inu skyrocketed an impressive 2,229.01% within the past day. To date, a staggering 410.73 trillion SHIB tokens have been taken out of circulation from the meme coin, leading to a potential scarcity as demand is forecasted to either stay consistent or surge further with the introduction of the TREAT token.

TREAT’s Debut is Bullish for SHIB

Shiba Inu recently announced the launch of TREAT on platform X (previously known as Twitter). They urge investors to exercise caution since fraudsters may try to trick investors with false TREAT airdrops or investment schemes. Notably, users on Bitget, KuCoin, and Gate.io were included in an authentic TREAT airdrop event.

$TREAT is officially LIVE!

Buy it now on our CEX partners!

Stay SAFE! 🛡️Beware of scam links and tokens mimic or replicate $TREAT.

Double-check with and our official brand channels for verification.

— Shib | TreatYourself Season (@Shibtoken) January 14, 2025

As per the data from CoinMarketCap, the cryptocurrency TREAT plunged by over 50% at its launch and currently boasts a market capitalization of merely $3 million, with each unit costing around 0.0008053 USD.

Shytoshi Kusama, the main developer within the Shiba Inu ecosystem, showed great enthusiasm about the launch of TREAT. He emphasized that SHIB holders are expected to experience substantial benefits in the near future as they possess the freshly-introduced incentive cryptocurrency.

Additionally, Kusama announced plans for the launch of multiple initiatives related to the TREAT token and the comprehensive Shiba Inu network. Meanwhile, Shiba Inu’s marketing lead Lucie teased about significant advancements in the coming days, emphasizing that “exciting surprises are in store.

Shiba Inu Soaring OI

Over the last 24 hours, the pace at which Shiba Inu tokens were being destroyed (burn rate) significantly increased, and so did the demand for these popular meme coins as indicated by a surge in Open Interest (OI). According to data from Coinglass, an astounding 18.91 trillion SHIB tokens worth approximately $405 million in open derivative contracts were suddenly created, reflecting this spike in the burn rate.

Currently, data from CoinMarketCap indicates that the price of SHIB has significantly increased. It started at a daily low of $0.00002004 and reached a high of $0.00002164, with a momentary peak at $0.00002148 during publication time. Despite being 75.74% lower than its all-time high, the rising Options Interest (OIs) for SHIB has sparked optimism among investors, suggesting a potential upcoming price surge might be on the horizon.

Remarkably, roughly three-quarters of the significant OI figures originated primarily from Gate.io, an exchange that also hosted the TREAT token’s listing. Subsequently, Bitget and OKX also observed substantial activity similar to Gate.io.

According to the daily chart presented by TradingView, there’s a noticeable increase in Shiba Inu (SHIB) accumulation which currently sits well above its 2024 levels. This trend seems to imply that SHIB, the popular meme coin, continues to exhibit bullish tendencies.

As a researcher observing the market dynamics, I’ve noticed that the Relative Strength Index (RSI) for this meme coin stands at 42.86. This indicates that sellers have been dominating the price action so far. Yet, the incline of the line hints at a potential reversal, suggesting that there might be a retest of higher prices in the near future.

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2025-01-14 20:33