In the past 24 hours, the Shiba Inu burn activity has significantly intensified, with the burn rate skyrocketing to 3,194%. According to Shibburn data, over 521.6 million SHIB have been permanently removed in this round of burns. Although the SHIB price trend remains weak and has not effectively boosted interest, the surge in burn data has injected more confidence into the community.
Large transactions dominate SHIB burn activities
According to the latest data from the Shiba Inu token burn tracking platform Shibburn.com, this round of large-scale SHIB burn activities was mainly driven by several whale-level large transactions. Among them, the wallet starting with '0xdb6' became the largest 'burner', having burned over 500 million SHIB through multiple transfers to the BA-1 burn address.
The most notable single burn was 310,744,788 SHIB, along with two other larger burn transactions of 107,333,061 SHIB and 103,276,575 SHIB.
Apart from this main address, other addresses such as '0x28be' and '0x6176' also actively participated, sending SHIB to multiple burn addresses (such as CA and BA-2). Although the scale of these transactions is relatively small, they collectively pushed the total burn amount for the day to exceed 521 million.
This round of concentrated burn activities also reflects the Shiba Inu community's recent proactive stance in promoting token deflation. It's important to note that the overall pace of SHIB burns has been relatively flat in recent weeks, and this recent activity has undoubtedly reignited market attention.
Despite measures taken, the SHIB supply still faces daunting challenges
Although over 521 million SHIB were burned in the past 24 hours, which appears to be a substantial burn action, this number is still a drop in the bucket compared to its massive circulating supply—now exceeding 589 trillion. This also reveals the core dilemma of Shiba Inu's token economics: the large total supply continues to suppress its long-term price upside.
As of the time of writing, SHIB is quoted at $0.00001192, down about 1.7% in the past 24 hours. While the surge in burn rate is exciting, the price performance remains sluggish, and market reaction is relatively tepid. However, some analysts point out that there may be new potential positives brewing behind the scenes, which may just not have been fully released yet.
A member of the Shiba Inu community recently posted on social media platform X, suggesting that the project's chief developer, Shytoshi Kusama, still has 'a few aces up his sleeve' for the Shiba Inu community. Although no further details were revealed, some past developments, such as the launch of Shibarium, have already impacted price trends. There is hope that any new announcements can rekindle interest and push the price of the Shiba Inu token to new highs.
