The Shiba Inu (SHIB) community has reported a massive 300% surge in token burns over the past 24 hours. This sharp increase comes amid growing calls from the SHIB Army—a dedicated group of Shiba Inu supporters—for even larger and more frequent burns to reduce the meme coin’s circulating supply.
What Triggered the 300% Burn Increase?
Data from Shibburn, a widely recognized SHIB burn tracker, shows that over 24 million SHIB tokens were intentionally sent to unspendable blockchain addresses in the last day. Two major transactions dominated this activity:
- One transfer of 17,220,462 SHIB
- Another of 4,635,583 SHIB
These moves significantly contributed to the 300% spike in the daily burn rate.
Over the past week, the burn volume reached 89,141,480 SHIB—nearly four times the average daily amount—leading to a 60.82% rise in the weekly burn rate.
The SHIB Army’s Push for Larger Burns
A Shiba Inu-themed account recently conducted a poll encouraging the SHIB development team to initiate larger burn events. Some community members are advocating for a reduction of 30% to 90% of the total SHIB supply in the near future.
Despite these calls, the SHIB team has clarified that it does not control the token’s supply. Lucie, Shiba Inu’s marketing lead, and Shytoshi Kusama, the lead developer, have both emphasized that burns can only be increased through organic means—not by centralized intervention.
The Role of Shibarium in Token Burns
The official stance from the Shiba Inu team is that increased burning must come from greater utility on Shibarium, the project’s layer-2 blockchain solution. An automated burn mechanism was introduced last year that uses BONE tokens paid as gas fees to destroy SHIB.
Therefore, the more activity on Shibarium, the more SHIB is automatically burned. This self-sustaining mechanism is designed to align burn volume with network usage rather than manual intervention.
Current SHIB Supply Metrics
Despite recent burning efforts, the total supply of Shiba Inu remains substantial. According to Shibburn:
- Circulating supply: 584,187,080,732,459 SHIB
- Staked supply: 5,069,933,926,697 SHIB
This indicates that while burns are rising, they represent a tiny fraction of the overall supply—highlighting why the community is eager to accelerate the process.
Why Token Burns Matter
Token burning is a deflationary strategy used in cryptocurrency to reduce circulating supply. By permanently removing tokens from circulation, projects aim to create scarcity, which can potentially drive up demand and price—assuming other market conditions remain favorable.
For meme coins like SHIB, which started with a very high supply, burns are often seen as essential to long-term value appreciation.
Frequently Asked Questions
What is a SHIB burn?
A SHIB burn is the process of sending tokens to a cryptocurrency wallet that cannot be accessed by anyone. This effectively removes those tokens from circulation permanently.
How does Shibarium help burn SHIB?
Shibarium helps burn SHIB through an automated mechanism where gas fees paid in BONE tokens are used to buy back and burn SHIB. The more transactions on Shibarium, the more SHIB is burned.
Can the Shiba Inu team control the burn rate?
No, the team has stated it does not control token supply or burns. Burns are driven by community actions and network activity on Shibarium.
Why is the SHIB community pushing for more burns?
The community believes that reducing the supply through burns can increase scarcity, potentially leading to higher SHIB valuations over time.
What was the weekly burn total mentioned?
Over the past week, the community burned 89,141,480 SHIB tokens, resulting in a 60.82% increase in the weekly burn rate.
Where can I track SHIB burn rates?
You can monitor official burn statistics through the Shibburn website or their official social media channels. 👉 Track latest burn data here
Looking Ahead
While the recent spike in burns is encouraging for SHIB supporters, achieving meaningful supply reduction remains a long-term effort. The community’s passion is clear, but the pathway to larger burns lies in boosting Shibarium’s adoption and utility.
Increased transaction volume on Shibarium would naturally lead to more automated burns, creating a sustainable deflationary model without relying on centralized decisions. For now, the SHIB Army continues to rally around both manual burns and ecosystem growth. 👉 Explore blockchain utility metrics
As the crypto market evolves, the balance between community initiative and organic tokenomics will likely determine Shiba Inu’s future trajectory.