Massive SHIB Burns Recorded Onchain

According to the latest data from Shibburn, a platform that tracks SHIB deflationary trends, Shiba Inu’s burn rate increased by 656.15% on May 6. Earlier in April, Shiba Inu’s burn rate skyrocketed by 825%, with a massive 26.48 million SHIB removed from circulation. This shows the consistency in token burn within the meme coin ecosystems.

In the latest round of burns, 16,779,365 SHIB were permanently removed within 24 hours, signaling a notable increase in activity compared to the slower pace seen earlier in May 2025.

It is worth noting that the burns happened in four separate transactions. According to the update, the most recent took place on May 6, where 146,543 tokens were sent to the burn address BA-3 from the wallet “0x8b15…d4282.”

As detailed by the tracker, three more transactions took place on May 5. One of them removed 5,537,925 tokens from the address “0x541f…886e0,” sending them to BA-2. Another saw 79,491 tokens moved from “0x7c58…08ccc” to BA-1. A smaller burn of 15,404 tokens was also recorded from “0x811b…954f” to BA-1.

It is worth noting that these transactions show a broader move from the Shiba Inu protocol design to create token scarcity through steady reductions in circulating supply. Since the project’s early days, over 410 trillion SHIB tokens have been burned, cutting the initial total supply from nearly one quadrillion.

Currently, the token’s circulating supply stands at 584,421,998,825,142 SHIB, while the total supply is 589,251,658,225,261 units.

It is essential to add that the significant uptick in burning also suggests a growing interest from both the community and long-term holders, activity from individual wallets and steady updates from Shibburn hint at deeper engagement among investors.