31,447,991 SHIB in Hours — What's This About?

May 29, 2025

Recent SHIB move sends ripples through Shiba Inu community[...]

Shiba Inu Burn Rate Skyrockets as Millions of SHIB Tokens Permanently Removed

The Shibburn tracking platform has reported a significant three-digit surge in the SHIB burn rate over the past 24 hours. Tens of millions of meme coins have been permanently removed from circulation, showcasing the SHIB community's continued commitment to reducing the token's overall supply.

The daily burn rate jumped by 117.57%, with a total of 31,447,991 SHIB tokens destroyed. This achievement came from two major transfers to unspendable wallets. To date, 410,748,743,591,348 SHIB have been burned, while 4,763,151,503,417 SHIB remain staked. The circulating supply currently stands at 584,488,104,905,233 SHIB.

Despite the increased burn activity, Shiba Inu has faced market turbulence, dropping over 12% in the past week. The meme cryptocurrency has slipped to 18th position on CoinMarketCap with a market cap of $8.3 billion, now trailing behind Toncoin (TON), Stellar (XLM), and Bitfinex's UNUS SED LEO (LEO).

After a 5% gain on Thursday, SHIB declined again on Friday, falling 1.6%. As of the latest data, the token is trading at $0.00001445.

Crypto analyst Ali Martinez previously suggested SHIB could see a 17% rally, noting the formation of a symmetrical triangle pattern that indicated potential breakout momentum.