Uncovering the Surge: What's Driving the 8,470% Increase in Shiba Inu's Burn Rate?

The ongoing initiatives by the Shiba Inu community to decrease the SHIB supply reflect a long-term plan to enhance the token's value.

The burn rate of the Shiba Inu (SHIB) cryptocurrency skyrocketed by an impressive 8,470%. This increase occurred after an anonymous wallet executed a substantial token burn. As reported by Shibburn, a well-known tracker, a mysterious wallet transferred 1 billion SHIB tokens to the official burn address in one transaction.

The transaction was valued at approximately $13,050, based on SHIB’s market price of $0.00001305 at that point in time. On-chain data reflects that this wallet has previously faced similar burns.

Etherscan records indicate that this enigmatic wallet has destroyed large quantities of SHIB tokens multiple times, yet it retains 1 billion SHIB, valued at approximately $13,050. The data reveals that the wallet burned 1 billion SHIB on March 15, 2025, another 1 billion SHIB on August 7, 2024, and 700 million SHIB on February 10, 2024.

What More for Shiba Inu?

In addition, the Shiba Inu community has played a crucial role in decreasing the token's circulating supply. Remarkably, within the last 24 hours, 1.004 billion SHIB were burned across 14 transactions. The ShibArmyStrong team contributed to this initiative by burning 20,933 SHIB through five transactions, leading to an impressive 8,470% rise in SHIB's burn rate.

As of now, over 410.74 trillion SHIB have been permanently taken out of circulation.

The ongoing initiatives by the Shiba Inu community to decrease the SHIB supply reflect a long-term plan to enhance the token's value. Nevertheless, investors are advised to exercise caution and conduct their own research before making financial decisions.

(Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. Before investing or obtaining a loan, perform comprehensive research and consult your financial advisor.)