Key Insights:
- Shiba Inu’s burn rate surged by 674% in 24 hours, yet the total supply remains unchanged due to its enormous token volume.
- Most of the burned SHIB originates from a single 2021 event, not from ongoing ecosystem-driven mechanisms or consistent burning activity.
- Despite large daily burn numbers, SHIB’s price remains flat, indicating little to no market response to current burn events.
Over 12 million Shiba Inu tokens were destroyed within a 24-hour window, driven by a sudden 674% spike in the burn rate. Despite the headline surge, data shows that the burn effort has done little to affect the cryptocurrency’s total supply or value in any measurable way.
The total number of SHIB tokens burned has now reached approximately 410 trillion. This figure remains essentially unchanged over recent months, underscoring the limited effect of daily burns. The overall token supply of Shiba Inu continues to hover near 589 trillion, making even multi-million token burns a statistical blip.
Price Reaction Stays Muted Amid Burn Hype
Despite the short-term surge in burn rate, the SHIB token price has held steady at around $0.0000089. Market observers note that such price stagnation highlights a lack of direct correlation between current burn activity and investor sentiment. The absence of notable price movements suggests the burn events failed to shift trading behavior or valuation.
A significant portion of the burned SHIB supply dates back to 2021, when Ethereum co-founder Vitalik Buterin sent over 410 trillion tokens to a null address. That one-time event accounted for the vast majority of burned tokens to date. Subsequent community-driven burn efforts have not reached a comparable scale.
Community Burns Driven by Voluntary Transfers
Recent burns are largely the result of individual users voluntarily transferring SHIB tokens to inactive wallets. While these transactions reduce the circulating supply, they lack coordination and consistency. They also have limited impact due to the relatively small quantities involved.
Shiba Inu currently lacks a built-in mechanism to reduce supply systematically through regular ecosystem activity. Without such structural support, token burns remain sporadic and symbolic. The absence of a sustained utility-based burning model limits the overall effectiveness of current burn strategies.
