1.1 Billion Shiba Inu (SHIB) Burnt In One Week: What's Happening?

Shiba Inu Community Continues to Burn Tokens, Reducing Circulating Supply

The Shiba Inu (SHIB) network remains committed to reducing its total token supply. Recent data shows the community has successfully burned over 1.1 billion SHIB tokens from circulation.

Through the SHIB burn portal, community members destroyed more than 14 million SHIB tokens in recent hours. This represents a 4.18% weekly increase in burned tokens, demonstrating growing participation in supply reduction efforts.

Notable burns this week include:

• 15.1 million SHIB burned on May 21
• 14.4 million SHIB burned on May 23

The community-driven SHIB Torch Initiative continues to track burns in real-time. When tokens are sent to dead wallets, they're permanently removed from the SHIB ecosystem.

Shibarium, the upcoming Layer-2 solution, will incorporate token burns to enhance scarcity and potential value. The platform recently processed over 944,000 transactions on May 23, 2025, with average fees remaining low at $0.00017 per transaction.

Recent network activity includes:

• Production of 523.23 BONE tokens
• Transfer of 121 billion SHIB from a Coinbase wallet to a new address

Market analysts predict a potential 32% price increase for SHIB. Current trading data shows:

• Price: $0.00001460 (4.42% daily increase)
• 24-hour trading volume: $465.74 million (26.74% increase)