🚨 Shiba Inu Burn Rate Soars Over 116,000% After Massive Token Burn! 🔥🔥
In a dramatic turn for the Shiba Inu (SHIB) ecosystem, over 1 billion SHIB tokens were incinerated in the last 24 hours, triggering an explosive 116,757% surge in the burn rate, per Shibburn data.
🔥 Record-Breaking Burn
A single wallet burn accounted for nearly all of it—1 billion SHIB sent to a dead wallet just 12 hours ago, permanently removing them from circulation. This is now the largest 24-hour burn event in SHIB’s history.
Additionally, smaller burns by community members destroyed 7.2 million SHIB, showcasing the collective effort behind this deflationary mechanism aimed at reducing supply and boosting value.
📈 Market Reaction
Following the massive burn, SHIB’s price rose 2.3%, climbing from $0.00001153 to $0.00001179, recovering part of the earlier week’s 3.45% dip.
🔁 Recent Burn Trends
Just last week, over 1.33 billion SHIB were burned through the ShibTorch portal, linked to the Shibarium Layer-2 network. SHIB burns are triggered when gas fees (paid in BONE) are converted and sent to dead wallets—adding to the deflationary pressure.
🗣️ SHIB Team Responds
Lucie, a key SHIB team member, responded to recent price concerns, saying:
She also warned against jumping into tokens claiming to be the “next SHIB,” calling out the failures of many such copycats from 2020 to 2022.
🔮 Final Take
This billion-token burn signals renewed strength and commitment from the SHIB community. With ongoing deflationary efforts and development on Shibarium, the SHIB ecosystem appears more determined than ever to support long-term value—even amid market fluctuations.
