SHIB's burn rate dropped 99% with only 483 tokens removed, yet price rose 1.67%. Volume tells a different story than supply mechanics right now.

SHIB Burns Drop 99% But Price Rises—What's Driving Demand?

Shiba Inu's burn rate fell off a cliff today—down 99%, with just 483 SHIB tokens actually removed from circulation. That's barely a rounding error in a supply measured in the hundreds of trillions. And yet, the price climbed 1.67% to $0.000005948, with volume ticking upward alongside it.

What stood out to me here isn't the burn number itself—it's how little it seemed to matter. Burns have been a core part of the SHIB narrative for a long time. The idea is simple: reduce supply, increase scarcity, support price. But today, the market just… moved on without it.

Volume rising while burns stall suggests demand is coming from somewhere else. Could be speculative rotation out of other memecoins, could be positioning ahead of broader momentum in the space. Either way, traders aren't waiting for the burn mechanism to do its job. They're buying now.

It raises a question worth sitting with: how much do burn mechanics actually influence price when sentiment shifts? In theory, they should matter. In practice, especially with memecoins, momentum and narrative seem to drive far more than slow supply adjustments. Today's price action might just be proof of that. SHIB holders are getting a green candle—but it's not the burns delivering it.