24/7 Cryptocurrency News

Shiba Inu Burn Rate Skyrockets 1539% as SHIB Price Stabilizes

Shiba Inu burn rate has recovered, jumping by more than 1500% in the past 24 hours at a time the price of SHIB is stabilizing
Published by
Shiba Inu Burn Rate Skyrockets 1539% as SHIB Price Stabilizes

Shiba Inu’s SHIB burn rate has printed a 1539.20% surge with about 18,499,053 SHIB tokens burnt within the last 24 hours per data Shibburn.

Advertisement

Burn Rate and Attention-Grabbing

In what seemed like a frenzied movement, Shiba Inu, one of the most prominent meme coins functioning atop the Ethereum blockchain experienced an outstanding jump in its burn rate. This exceeded expectations and left behind a trail of more than 410.7 trillion SHIB tokens now taken out of circulation, according to data from Shibburn. 

Shiba Inu Burn Chart. Source: Shibburn.com

Consequently, this surge pushed SHIB to the spotlight, gaining the attention of crypto enthusiasts and investors who were impressed by the movement. Ultimately, this underscores Shiba Inu’s growing prominence amidst other protocols and within the crypto ecosystem. The growing popularity of the SHIB token is partly attributed to the increasing interest in the coin.

This comes against the backdrop of spot Bitcoin ETFs that were approved by the United States Securities and Exchange Commission (SEC) but at the same time, SHIB has been able to stand out within its niche complemented by the embrace of Shibarium. 

Shiba Inu’s community activity and engagement have significantly grown over the past months as judged by the Shibarium metrics

Advertisement

Shiba Inu Burn Rate and Total Supply

Markedly, this is only one of the huge burns the SHIB landscape has seen in the last couple of weeks. Only a few days ago, the burn rate was at a staggering 4250.91%. At the time, the community incinerated a whopping 410.708 trillion SHIB to date from the token’s initial circulating supply. This was after a 4200% burn which torched another millions of SHIB tokens

Due to the huge burn rate, the protocol has been able to effectively eliminate a massive portion of the SHIB total supply. 

Before the incineration, the maximum total supply of the Shiba Inu token was 999,982,386,137,000. Upon completion of the burn of 410,708,049,880,540, the Shiba Inu ecosystem is now left with 581,291,545,266,594. Meanwhile, only 581,291,545,266,594 are in circulation with the remaining 8,000,404,852,864 Staked on DApps.

The price of Shiba Inu has grown within the last 24 hours and at the time of this writing, the coin has gained 0.35% and is trading at $0.000009094. The token is notably stabilizing after weeks of drawdown.

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025
  • 24/7 Cryptocurrency News

Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility

Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This…

October 1, 2025
  • Bitcoin News

U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy

The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…

October 1, 2025
  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025