Shiba Inu Burn Rate Explodes 440% Amid Token Price Slump
The Shiba Inu community has dramatically intensified its effort to reduce the circulating supply of its meme token, incinerating over 10.6 million SHIB in a single day.
Data released by the community-run burn tracker Shibburn shows a 439.79% surge in the daily burn rate, a spike that has reignited discussion about the token's supply dynamics even as its price continues to struggle.
The broader weekly and monthly trends underscore a sustained acceleration in this deflationary mechanism. Over the last seven days, a total of 173.37 million SHIB tokens have been burned. The monthly figures are even more staggering; more than 3.36 billion SHIB were destroyed over the past 30 days.
Despite the aggressive reduction in supply, the market price of SHIB has not responded with a bullish breakout. Over the past 24 hours, the token's value has slipped by 1.26%, and it is down 7.38% over the course of the week.