#MarketPullback ⚡ Inu community burn portal, Shib Torch, successfully removes over 1 billion SHIB tokens from circulation through incineration. 

Prominent Shiba Inu community figure Shibarium Updates (@shibizens) alerted the community about the milestone via a recent tweet.

Shibarium Updates disclosed that Shib Torch had burned 1,003,331,701 (1 billion) Shiba Inu tokens. At the current price of $0.00001330 per token, the dollar equivalent of these tokens is worth $13,334. 

The overall burn from Shib Torch represents a tiny fraction of Shiba Inu’s total supply of 589.5 trillion tokens. Nonetheless, its impact on Shiba Inu’s price is expected to be seen in the long term. As Shiba Inu’s supply declines, its price might experience a spike in the future.

How Much Shib Torch Burned in Previous Months 

The latest update on Shib Torch’s overall burn comes less than two months after The Crypto Basic reported the total burn to be around 713.12 million. 

At the time, the burn rate saw a 7-day increase of 10.02%. The latest update indicates that the automated burn portal has burned 290,203,437 (290.2 million) SHIB since March 18, 2025. 

According to Shibarium Updates, the amount of Shiba Inu tokens burned through Shib Torch represents a 4.97% surge from the figure recorded last week. This rising burn rate indicates growing community engagement on Shibarium. 

Shiba Inu Burn Process 

It is common knowledge that Shib Torch burns Shiba Inu tokens using a fraction of the fees obtained through Shibarium transactions. Notably, users are required to pay a base fee in BONE to facilitate transactions on Shibarium. 

However, those who want validators to prioritize their transactions, especially during network congestion, can do so by paying an extra cost, a priority fee, which is allocated to the validator. On the other hand, the base fee is split into two: 70% for burning SHIB and 30% as the platform’s fee...