SHIB Burns Reach 41% Milestone but Scarcity Remains Elusive

The Shiba Inu cryptocurrency has been burning tokens since its launch in August 2020. As of late July 2026, approximately 410.84 trillion SHIB, or 41.08% of the original supply, has been burned through a community-driven burn mechanism.

This is not enough to create meaningful scarcity, however, as the circulating supply remains near 589.24 trillion tokens. Daily burns are typically in the millions, which is negligible compared to the remaining supply.

The large starting supply of 1 quadrillion tokens was a deliberate choice by the developers, aiming for low unit prices to attract retail buyers. Half of this supply was sent to Ethereum co-founder Vitalik Buterin as an unsolicited gift.