Usman Salis
Shiba Inu token experienced a dramatic burn rate increase while its price recovered 9% following Sunday's significant drop. The burn rate figure appears impressive, though the actual quantity of tokens removed remains relatively small.
SHIB Burn Rate Reaches Seven-Digit Growth Percentage
According to the Shibburn wallet tracker, the burn rate of Shiba Inu cryptocurrency has demonstrated an extraordinary surge of 2,060,231.23% over the past 24 hours. This astronomical percentage increase represents a significant spike in token burning activity compared to previous periods.
However, despite this impressive percentage growth, the actual number of SHIB tokens destroyed overnight was relatively modest, amounting to just 13,392,153 SHIB. This discrepancy between the percentage increase and the actual quantity burned highlights how percentage metrics can sometimes appear more dramatic than the underlying activity.
SHIB Community Burns Nearly 200 Million Tokens Weekly
The largest burn transaction moved 9,999,999 SHIB to an unspendable wallet, effectively removing these tokens from circulation permanently. The second-largest transaction contributed an additional 1,216,499 SHIB to the burn efforts. Two other notable burn transfers each removed slightly less than 1,000,000 SHIB from circulation, according to data from the Shibburn website.
Looking at weekly burn statistics provides additional context. Over the past week, the SHIB community has collectively removed 191,449,298 tokens from circulation. While this represents a substantial number of tokens, it actually indicates a decrease of 82.04% compared to burn activities from the previous week.
SHIB Price Recovers 9% After Sunday's Collapse
The token's price action has shown volatility in recent days. After experiencing a nearly 50% collapse on Sunday, SHIB has managed to stage a 9% recovery in the last 24 hours. This rebound indicates that despite the market turbulence, there remains significant investor interest in the popular meme coin.
The price recovery, coupled with the continued burning efforts, suggests that the SHIB community remains active and committed to reducing the token's supply, which theoretically could support price appreciation in the long term if demand remains stable or increases.
SHIB Executive Addresses Market Volatility
The official marketing lead of the SHIB team, known by the pseudonym Lucie, shared her perspective on the current cryptocurrency market conditions in a recent tweet. She attributed the market downturn to manipulation and "heavy politics," suggesting that external factors rather than fundamental issues with cryptocurrencies themselves are driving the current volatility.
Lucie observed that many crypto enthusiasts are experiencing significant stress due to the market conditions, noting that "People are mentally breaking down." She drew a distinction between what she considers weaker projects that are "looking for someone to blame" and stronger teams that continue building regardless of market fluctuations, presumably including the SHIB development team in the latter category.
In her assessment of the current crypto landscape, Lucie emphasized that "the real value is in how projects build—and the strong foundation behind them," suggesting that long-term success in the cryptocurrency space depends more on solid development and utility than on short-term price movements.
The combination of community burning efforts and team statements reinforces the message that despite market turbulence, the SHIB ecosystem continues to develop and implement its long-term strategy for token value preservation and growth.
Usman Salis
