Shiba Inu Overtakes Litecoin in Crypto Rankings Amid 2,866% Burn Rate Explosion

Move over, Litecoin—there's a new top dog in the meme coin arena. Shiba Inu just flipped a major legacy cryptocurrency, proving once again that retail traders would rather bet on a dog-themed token than actual utility.

Fueling the rally? A jaw-dropping 2,866% surge in SHIB burn rate, torching tokens faster than a hedge fund manager's reputation after a bad trade. The deflationary mechanics are finally showing teeth, though skeptics will note the 'supply shock' narrative conveniently ignores the quadrillions of tokens still in circulation.

This isn't just a pump—it's a full-scale market structure shift. While Bitcoin maximalists scoff, SHIB's rise signals a broader trend: speculative assets now drive more market action than fundamental tech. Whether that's sustainable or just another bubble waiting for Wall Street's pin remains to be seen.

Shiba Inu overtakes Litecoin Inu in crypto ranking Shiba Inu Burn Rate Spikes 2,815% in 24 Hours  Notably, the development follows a significant spike in Shiba Inu’s burn rate. New data from Shibburn indicates that the burn rate has increased by 2,866% over the past 24 hours. This resulted in the incineration of 2,196,079 (2.19 million) SHIB tokens over the past day, across 14 transactions. 

Shiba Inu burn rate soarsShiba Inu burn rate soars The highest daily burn occurred yesterday at 11:29 a.m. (UTC), which saw an unknown address, 0x188…c3cdd, send 1 million SHIB to the official burn wallet.  Besides the 1 million SHIB burn, the sender was responsible for seven other burn-related transactions over the past day. Of the 2.19 million shiba inu tokens burned over the past day, this address incinerated 1,343,285 (1.34 million) SHIB.  Although Shiba Inu’s daily burn rate has soared 2,815%, the metric still represents a 89.53% low compared to the past week.