- ShibaInu burn rate skyrocketed by 3,484% in just 24 hours after 537 million SHIB tokens were sent to dead wallets, helping reduce its circulating supply.
- Meanwhile, lead developer Shytoshi Kusama reemerged with updates on the upcoming SHIB AI whitepaper and warned the community against scammers.
Shiba Inu Supply Drops as Burn Rate Explodes
ShibaInu just witnessed one of its most aggressive token burns in months — over 537 million SHIB were sent to dead wallets in just 24 hours, sparking a massive 3,484% spike in the network’s burn rate. The move is part of a broader effort by the SHIB Army to slash the meme coin’s oversized supply and potentially boost long-term value.
According to data from Shibburn, five major transactions led to the incineration of 537,187,730 SHIB. Three of those alone — carrying 310.7 million, 107.3 million, and 103.2 million SHIB respectively — were executed from the same anonymous wallet, making the burn especially notable. Each transaction was carried out within minutes of each other, effectively removing these tokens from circulation forever.
SHIB Price Recovers as Burn Sparks Market Momentum
Following this fiery development, SHIB prices bounced back approximately 5% after suffering losses earlier in the week. While short-term market impact remains modest, consistent burns like these help reinforce a deflationary narrative for SHIB — a key aspect of its long-term investment thesis.
Also read: Bitcoin and Ethereum Plunge as $1.1B in Crypto Liquidations Follow Middle East Tensions
On a weekly scale, the total SHIB burned now exceeds 687 million, representing a 481% increase compared to the previous week. Most of this surge is attributed to Friday’s half-billion burn event.
Kusama Returns: SHIB AI Whitepaper and Anti-Scam Message
Adding fuel to the SHIB momentum, lead developer Shytoshi Kusama broke a two-week silence with fresh statements on Telegram and X. He teased the upcoming SHIB AI whitepaper and took a stern stance against rising scam attempts, reminding the community to “ignore them” and stay focused.
Kusama’s reappearance coincides with the rollout of the new Shiba Alpha Layer — the L3 scaling solution for Shibarium — marking yet another milestone in SHIB’s expanding ecosystem.
As SHIB continues to burn billions and push technological boundaries, the meme coin is proving it’s more than just hype. With strategic tokenomics, active developers, and a committed community, Shiba Inu could be setting the stage for a bullish comeback.