Key Notes
- The Shiba Inu burn rate soared 106,040% in a day, burning 15.3 million SHIB.
- SHIB price dipped 5.87%, despite higher burn and active community efforts.
- One wallet alone destroyed over 15 million SHIB in a single move.
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The latest data from the Shiba Inu ecosystem indicates that the SHIB burn rate has shot up by over 106,000% in the last 24 hours. Notably, the jump suggests the community is getting more active and engaged. Oddly enough, this spike came while the native digital asset SHIB’s price and market capitalization took a hit over the same period.
Over 15 Million SHIB Burnt in 24 Hours
After days of negligible burns, Shiba Inu’s token burn rate has jumped significantly in the past 24 hours. According to an update from the ecosystem, the burn rate shot up by 106,040.49%.
Data from Shibburn shows that over 15.3 million SHIB tokens were burned within that time. This beats the burn rate from earlier with a recorded 6,519% surge in one day. However, despite the latest spike, there has not been a noticeable change in the token’s price.
HOURLY SHIB UPDATE$SHIB Price: $0.00001422 (1hr 0.40% ▲ | 24hr -5.93% ▼ )
Market Cap: $8,379,884,227 (-5.90% ▼)
Total Supply: 589,251,505,066,314TOKENS BURNT
Past 24Hrs: 15,330,933 (106040.49% ▲)
Past 7 Days: 117,734,904 (114.03% ▲)— Shibburn (@shibburn) May 17, 2025
Based on general perception, the recent burn activity is mostly community-driven. Several transactions on the Shibburn tracker point to an organized effort by holders to reduce the token supply.
According to the latest update, one wallet (ending in f3ce5886e0) burned over 15 million SHIB in a single transaction. Another wallet (7fb81d3e43) carried out four separate burns, totaling 25 million SHIB in just two days.
These transactions had a big impact on the daily burn total. This indicates that some holders remain committed to reducing the token’s supply, possibly in the hope of influencing its price over time.
So far, more than 410.7 trillion SHIB tokens have been burned from the original supply. However, the circulating supply is still quite large, at about 584.4 trillion. Even so, steady burn efforts like these help to manage inflation and add a bit of scarcity to the token.
SHIB Price Slides Despite Burn Momentum
While the burn rate has made headlines positively, SHIB’s price has not strictly followed the pattern. CoinMarketCap data shows that SHIB was trading at $0.00001425, down by about 5.87% in the last 24 hours.
The price outlook showed that its market cap dipped slightly to $8.38 billion. This happened despite a daily trading volume of $210.74 million, which shows that interest in the token remains strong.
Still, the fundamentals remain notable. The maximum supply of SHIB is nearing one quadrillion. Likewise, over 4.79 trillion SHIB tokens are staked as xSHIB. This shows the network has strong community participation. What remains uncertain is whether this latest burn activity will be enough to push the price into a breakout.
It is important to note that the Shiba Inu community continues to push for higher burns and broader adoption. Many are watching to see if this momentum will lead to a sustained price rebound in the long term
Coinspeaker noted recently that the price of Shiba Inu rose by 9%. This increase happened as the Shibarium DappStore went live. The new platform provides users with an easy way to access verified decentralized applications per the update.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
