Shiba Inu (SHIB) holders have drastically increased their burn activity, removing millions of tokens from circulation in a coordinated effort to boost scarcity. Data from community tracker Shibburn shows that in the past 24 hours alone, roughly 4.56 million SHIB were permanently destroyed, representing an extraordinary 201,000% surge compared to usual daily burn levels.
Scale of the Burn Compared to SHIB’s Supply
Despite the impressive percentage increase, the absolute numbers remain small when measured against SHIB’s massive circulating supply. With over 584 trillion tokens still in the market and a total supply that began at one quadrillion, the recent burn represents only a symbolic dent in inflationary pressure. Since launch, more than 410 trillion SHIB have been permanently removed, but the token’s abundance continues to weigh heavily on its price outlook.
Token Burns as a Long-Term Strategy
Burning tokens has long been a feature of the Shiba Inu community’s playbook. By sending coins to inaccessible wallets, holders aim to increase scarcity and strengthen the asset’s long-term valuation. Similar spikes in burn activity earlier this year drew attention to the project, though they have rarely led to lasting rallies without wider ecosystem growth.
Developers have recently highlighted new utility projects within Shiba Inu’s ecosystem, such as Shibarium, the layer-2 scaling solution, which has processed millions of transactions since launch. Analysts note that combining token utility with steady burn initiatives could eventually create more consistent upward pressure.
Market Reaction: SHIB Still Under Pressure
Price action has not yet reflected the dramatic burn rate. At the time of writing, SHIB is trading around $0.00001222, down nearly 1.7% in the past 24 hours and about 2.8% over the week. Daily trading volumes fell to roughly $153 million, a 15% decline, signaling weaker demand.
Meanwhile, competing meme coins such as Pepe (PEPE) and Bonk (BONK) have drawn increasing investor attention, adding further pressure on SHIB to demonstrate unique value.
What Comes Next for Shiba Inu?
Technical signals show mixed momentum. The token is approaching its upper Bollinger Band, hinting at short-term resistance, while the Relative Strength Index (RSI) sits near neutral at 47, leaving traders uncertain about the next move.
Community members remain hopeful that September, dubbed “Sparktember” by supporters, could mark the beginning of renewed growth. Whether these burn efforts will translate into meaningful price appreciation likely depends on broader crypto market trends and Shiba Inu’s ability to roll out new utility features.
