Shiba Inu’s burn rate surged over the past 24 hours after community members permanently removed more than 13 million $SHIB tokens from circulation.
According to Shibburn data, a total of 13.2 million Shiba Inu were burned in the past day, permanently reducing the token’s circulating supply. The burns were completed across 13 separate transactions, with the largest single burn accounting for the majority of the destroyed tokens.
The biggest transaction occurred yesterday when an unidentified user transferred 9.7 million $SHIB from the CEX.IO exchange to the official dead wallet. Meanwhile, the second-largest burn took place just hours before press time, eliminating approximately 1.2 million $SHIB from circulation.
Shiba Inu Burn Activity Accelerates Sharply
The latest burn marks a significant increase compared with activity recorded over the previous week, during which daily burns generally remained below 7 million $SHIB.
Following the latest spike in burns, Shibburn data shows that the 24-hour burn rate soared by 131.2%. The recent activity also lifted longer-term burn totals. Weekly burns have now reached 45.44 million $SHIB, while the monthly burn count has climbed to 269.9 million $SHIB.
Since the launch of the Shiba Inu ecosystem, the community has permanently destroyed 410,840,414,408,454 $SHIB (410.84 trillion) through 21,216 burn transactions. That figure represents 41.08% of Shiba Inu’s original 1 quadrillion-token supply, leaving about 58.92% of the total supply still in circulation.
$SHIB Price Remains Under Selling Pressure
Despite the sharp increase in token burns, $SHIB continues to trade under bearish pressure. At the time of writing, Shiba Inu was down 0.23% over the past 24 hours, trading at $0.000004143. The token has also declined 1.36% over the past seven days and 12.31% over the last month.
Furthermore, $SHIB remains 1.13% lower on a month-to-date basis, leaving the token with only 11 days to recover and turn its monthly performance positive. It continues to rank outside the top 30 and currently stands as the 33rd-biggest token globally, with a market cap of $2.43 billion.
Meanwhile, growing exchange inflows continue to offset the positive impact of the latest burn activity. According to CryptoQuant data, approximately 12.6 billion $SHIB flowed into cryptocurrency exchanges over the past 24 hours.
Consequently, Shiba Inu’s exchange reserve increased to 86.32 trillion $SHIB, suggesting that more holders may be positioning their tokens for potential selling, which could continue to weigh on the asset’s near-term price performance.
