Shiba Inu ($SHIB ) has recorded a dramatic surge in its token burn rate, following a major community-led incineration event that permanently removed over one billion SHIB tokens from circulation in the past 24 hours.
According to data from the Shibburn tracking platform, the burn rate soared by an extraordinary 116,757%, marking one of the most significant deflationary events in the token’s history. This unprecedented increase was largely driven by a single transaction that destroyed 1 billion SHIB, sent to a designated "dead wallet"—an address from which tokens cannot be retrieved.
Largest 24-Hour Burn in SHIB History
The transaction, executed approximately 12 hours ago, represents the largest single-day burn on record for the SHIB ecosystem. In addition to the main burn, community members collectively eliminated another 7.2 million SHIB tokens through smaller individual burns.
Token burning is a fundamental part of SHIB’s deflationary model. By reducing the total supply over time, the strategy aims to enhance scarcity and potentially increase the token’s market value.
Market Reaction and Price Movement
The market responded modestly to the burn event, with SHIB prices rising by 2.3%, climbing from $0.00001153 to $0.00001179. This follows a 3.45% price decline earlier in the week, which the recent uptick partially offset.
While price movements remain volatile, the burn appears to have reinforced investor sentiment and highlighted the community's continued engagement with SHIB’s long-term deflationary roadmap.
Ongoing Burn Initiatives via Shibarium
This latest event adds to a growing series of recent burns. Just last week, over 1.33 billion SHIB tokens were incinerated via the ShibTorch community burn portal, which operates in conjunction with Shibarium, SHIB’s Layer-2 blockchain solution.
Shibarium’s model utilizes transaction gas fees—paid in BONE—to accumulate value. Once a set threshold is reached, these fees are converted into SHIB and subsequently burned, further contributing to supply reduction.
SHIB Leadership Addresses Market Sentiment
Lucie, a key member of the SHIB development team, addressed the community's concerns regarding recent price fluctuations. In a statement, she remarked:
“If SHIB is on the floor, it doesn’t mean it has no value — it means someone dropped it. Be smart.”
She also warned against speculative projects claiming to be “the next SHIB,” noting that while many similar tokens emerged in 2020 through 2022, most have failed to deliver lasting value.
Outlook
The burn of over one billion SHIB tokens represents a significant milestone in Shiba Inu’s evolving ecosystem. As community-led deflationary mechanisms continue to gain momentum—especially those integrated into the Shibarium network—the project underscores its commitment to reducing supply and fostering long-term value.
Despite short-term market volatility, the SHIB community remains focused on sustainable development, enhanced utility, and proactive supply management.
