The Shiba Inu (SHIB) community witnessed a dramatic spike in token burns over the last 24 hours. According to data from blockchain tracker Shibburn, the burn rate skyrocketed by a staggering 5,404.56%, fueled by a significant number of SHIB tokens sent to unspendable wallets.
Shibburn confirmed that users collectively burned 5,153,696 SHIB within that period, drastically cutting down the token’s circulating supply. While this impressive figure grabbed headlines, the burn momentum did not stop there.
Larger Transactions Follow Initial Spike
Shortly after the initial update, the Shibburn website recorded a much larger single transaction. An anonymous wallet transferred 13,956,875 SHIB directly to a dead-end address, removing those tokens permanently from circulation.
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This massive transaction slightly changed the overall picture. Following the update, the burn rate adjusted to a still-impressive 582.16%, reflecting ongoing activity from the SHIB army. Two other noteworthy transactions saw 1,500,000 and 1,000,000 SHIB sent to inferno wallets, further reducing the supply.
Meanwhile, SHIB’s layer-2 blockchain, Shibarium, continues to post strong activity. The SHIB-affiliated X account “Shibarium Updates” (@Shibizens) highlighted the network’s recent accomplishments. According to the update, Shibarium has now processed over 1.28 billion transactions since its launch in August 2023. Currently, daily transactions remain steady at approximately 4.57 million.
Network Growth Stays Consistent
The Shibarium network also shows substantial growth in its underlying blockchain metrics. So far, it has generated 11,677,331 blocks, and it now supports 266,407,994 unique wallets. These achievements demonstrate the increasing utility and adoption of Shibarium. They also reflect the SHIB community’s continued commitment to reducing supply through aggressive token burns.
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SHIB has experienced a remarkable uptick in burn activity, with millions of tokens vanishing from the ecosystem. At the same time, Shibarium’s performance continues to impress, hitting major milestones in both usage and infrastructure development. These coordinated community and network efforts may provide long-term support for SHIB’s value proposition.
