Saad Ullah
Shiba Inu (SHIB) community just pulled off something huge – they've torched over 1 billion tokens, sending the burn rate through the roof by 1,693%. But here's the catch: with 589 trillion SHIB still floating around, this massive burn barely scratches the surface.
The SHIB army is at it again, doing what they do best – burning tokens like there's no tomorrow. According to Shibburn, the go-to tracker for all things SHIB burning, the past week has been absolutely wild. We're talking about a 1,693.7% spike in burn rate, all thanks to 1,042,699,761 SHIB getting sent straight to digital hell.
Here's what happened: some anonymous whale decided to go nuclear and burned exactly 1 billion SHIB tokens in one shot. That's not pocket change – that's a statement. This single burn basically carried the entire week's numbers and shows just how committed some holders are to reducing supply.
SHIB Burns Hit Different This Week
The burning didn't stop there though. After the billion-token bonfire, we saw another decent-sized burn of 10,061,416 SHIB about 22 hours ago. The daily total hit 11,195,149 SHIB, but let's be real – that's a 98.89% drop from Tuesday's madness. Looks like we're back to normal burning levels after that massive spike.
These "inferno wallets" are where SHIB goes to die – permanently locked away where nobody can touch them ever again. It's the crypto equivalent of throwing money into a black hole, but the community believes it's worth it if it means making their remaining tokens more valuable.
SHIB Supply Reality Check
Now for the hard truth: even with all this burning excitement, SHIB's total supply is still sitting pretty at 589,248,746,682,927 tokens. That's 589 trillion with a "T" – a number so big it makes your head spin. The recent billion-token burn? It's like taking a drop out of the ocean.
Don't get me wrong – the SHIB community deserves props for staying consistent with these burns. They're playing the long game, hoping that steady burning over time will eventually make a real difference. But with numbers this massive, they'd need to keep this up for years to see any meaningful impact on supply.
The bottom line? SHIB's burn rate explosion is impressive and shows the community isn't giving up. Whether it'll actually move the needle on price remains to be seen, but one thing's for sure – the SHIB army isn't backing down from their mission to reduce supply, one burn at a time.
Saad Ullah
