U.today
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14,372,556 SHIB in Minutes: What's Going On?
In recent hours, the Shiba Inu (SHIB) community witnessed a significant event: a single transaction resulted in the burning of 14,372,556 SHIB tokens, thereby eliminating them from circulation.
Token burning involves purposely sending cryptocurrency tokens to an unspendable address, sometimes known as a "dead wallet," to lower the overall supply. This approach seeks to trigger scarcity, which may increase the value of the remaining tokens over time.
🔥 14,372,556 $SHIB -> transferred to dead wallet. https://t.co/DOPvLSRg1W
— Shibburn (@shibburn) March 1, 2025
The recent burn of more than 14 million SHIB tokens is part of the SHIB community's ongoing attempts to reduce the token's massive supply. In February 2025 alone, 389,189,413 SHIB tokens were burned in 134 transactions.
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Despite these significant burns, some community members raise concerns about the pace, suggesting that more aggressive methods may be necessary to achieve a significant price impact.
In the last 24 hours, for instance, 17,548,578 SHIB tokens were burned, representing a 75.49% decline within this time frame. In the past seven days, 102,011,340 SHIB were burned, representing a 39.04% decline weekly.
SHIB price action
At the time of writing, SHIB was down 1.78% in the last 24 hours to $0.00001368 following two consecutive days of declines after an earlier rebound in the past week.
Shiba Inu and meme coins have received excellent news in the last week, as the SEC issued guidance stating that meme coins are not securities but rather collectibles.
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To provide greater clarity on the application of federal securities rules to crypto assets, the Division of Corporation Finance offered its views on "meme coins."
In its statement, the SEC stated that the offer and sale of meme coins does not constitute an investment in an enterprise, nor is it made with a reasonable expectation of gains from the entrepreneurial or management efforts of others.
A break over the daily moving averages 50 and 200 at $0.00001745 and $0.00001926 would indicate a bullish recovery, with Shiba Inu aiming for $0.000025 and $0.00003 in the event of a rise. On the other hand, support is envisaged at $0.0000116 in the event of a drop.
Token burning involves purposely sending cryptocurrency tokens to an unspendable address, sometimes known as a "dead wallet," to lower the overall supply. This approach seeks to trigger scarcity, which may increase the value of the remaining tokens over time.
🔥 14,372,556 $SHIB -> transferred to dead wallet. https://t.co/DOPvLSRg1W
— Shibburn (@shibburn) March 1, 2025
The recent burn of more than 14 million SHIB tokens is part of the SHIB community's ongoing attempts to reduce the token's massive supply. In February 2025 alone, 389,189,413 SHIB tokens were burned in 134 transactions.
card
Despite these significant burns, some community members raise concerns about the pace, suggesting that more aggressive methods may be necessary to achieve a significant price impact.
In the last 24 hours, for instance, 17,548,578 SHIB tokens were burned, representing a 75.49% decline within this time frame. In the past seven days, 102,011,340 SHIB were burned, representing a 39.04% decline weekly.
SHIB price action
At the time of writing, SHIB was down 1.78% in the last 24 hours to $0.00001368 following two consecutive days of declines after an earlier rebound in the past week.
Shiba Inu and meme coins have received excellent news in the last week, as the SEC issued guidance stating that meme coins are not securities but rather collectibles.
card
To provide greater clarity on the application of federal securities rules to crypto assets, the Division of Corporation Finance offered its views on "meme coins."
In its statement, the SEC stated that the offer and sale of meme coins does not constitute an investment in an enterprise, nor is it made with a reasonable expectation of gains from the entrepreneurial or management efforts of others.
A break over the daily moving averages 50 and 200 at $0.00001745 and $0.00001926 would indicate a bullish recovery, with Shiba Inu aiming for $0.000025 and $0.00003 in the event of a rise. On the other hand, support is envisaged at $0.0000116 in the event of a drop.
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