Usman Salis
Shiba Inu (SHIB) just saw its burn rate explode by 883% in 24 hours, wiping out over 21 million tokens. But the price? Still down 4.94% at $0.00001496.
The Shiba Inu community went all-out yesterday, burning through 21,611,083 SHIB tokens in just 24 hours. That's an insane 883.89% jump in the daily burn rate, according to Shibburn data. Most of the action came from one massive transaction that sent 16.4 million tokens straight to a dead wallet.
It's not just a one-day thing either. Over the past week, the community torched 131.4 million SHIB tokens, marking a solid 129.63% weekly burn increase. These aren't just random burns - they're part of the ecosystem's strategy to make SHIB scarcer and hopefully more valuable down the road.
SHIB Price Still Struggling Despite Burns
Here's the thing though - all this burning hasn't moved the SHIB price much yet. The token's sitting at $0.00001496, down nearly 5% in the last day. But zoom out a bit and you'll see SHIB is actually up 15.27% for the week, which isn't too shabby.
This disconnect between burns and price isn't unusual. When you're dealing with hundreds of trillions of tokens, it takes time for these supply changes to really hit home. The market needs to digest what's happening before we see any real price action.
SHIB Supply: The Big Picture
The real eye-opener is the total burn count. Since SHIB launched, the community has permanently destroyed 410.75 trillion tokens. Yeah, you read that right - trillion with a T. That's knocked the original supply down from one quadrillion to about 584.6 trillion tokens still floating around.
While 584 trillion still sounds massive (because it is), the steady burn rate shows the community isn't messing around. They're serious about reducing supply, even if it's a marathon rather than a sprint.
What's Driving SHIB Burns?
The recent burn surge isn't happening in a vacuum. It reflects real activity across the SHIB ecosystem - people using dApps, making transactions on Shibarium, and community members actively participating in burn events. This kind of organic activity is exactly what healthy crypto projects need.
Sure, SHIB still has a long way to go before scarcity becomes a real factor in pricing. But with over 410 trillion tokens already in the burn pile and community engagement staying strong, the project is moving in the right direction. Sometimes in crypto, consistency beats flashy moves, and SHIB's burn strategy seems built for the long haul.
Usman Salis
