Data from Shibburn, a popular Shiba Inu (SHIB) burn tracker, reveals that SHIB’s burn rate hit zero over the past 24 hours. However, more than 1.4 million SHIB tokens were sent to “dead” wallets, making them unspendable. This unusual stagnation occurred alongside a strong 7% price surge in SHIB’s value.
Shibburn reports show that, in the past day, 1,412,571 SHIB tokens were burned through combined community efforts. Curiously, despite these burns, Shibburn displays a zero burn rate, which typically shifts between green or red indicators. This “green zero” may stem from an occasional glitch on the Shibburn site, according to observers.
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Key Transactions Contribute to Burn Rate, but Indicators Remain at Zero
The tracker’s data highlights four transactions, with the largest two eliminating 1,111,111 and 189,472 SHIB. Shibburn confirmed this data in a tweet, also indicating a sharp contrast between daily and weekly burn rates. While the daily burn rate dropped to zero, the weekly rate soared by an impressive 5,929.22%.
Source: Shibburn
Altogether, 5,753,160,030 SHIB tokens vanished into dead-end wallets over the past week. This jump in burns resulted from a single, substantial transaction of 5,612,878,479 SHIB, valued at nearly $100,000, initiated by the Shiro Neko project.
Shiba Inu Community Responds to Massive Burn
The massive burn from Shiro Neko gained positive reactions from SHIB community members, including Lucie, the Shiba Inu marketing lead. The SHIB team urged caution about large-scale burns by outside entities before confirming Shiro Neko’s involvement, warning of potential manipulation.
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On the day of this burn, the rate briefly spiked by 259,910%, prompting a response from the @susbarium X account affiliated with the SHIB team, which warned of potential “attention plays” behind large burns. The mixed data on SHIB’s burn rate has stirred varied reactions within the community, despite the ongoing burning of millions of tokens.
While significant burns help reduce SHIB’s overall supply, the irregularity in reported burn rates highlights potential issues in tracking and raises questions about the motivations behind large-scale burns by outside entities.
