SHIB Burn Rate Soars Over 106,000% as Community Engages in Burn Activities

The latest data from the Shiba Inu ecosystem indicates that the SHIB burn rate has shot up by over 106,000% in the last 24 hours.

The latest data from the Shiba Inu ecosystem shows that the SHIB burn rate has surged by over 106,000% in the last 24 hours.

This time, the community members appear to be getting more active and engaged. However, oddly enough, the latest spike in the burn rate comes as the native digital asset SHIB has seen its price and market capitalization decrease over the same period.

As the saying goes, some like it hot, while others prefer it cold.

SHIB Burn Rate Spikes By 106,040.49%

After days of minimal burns, Shiba Inu’s token burn rate has seen a substantial increase in the past 24 hours.

According to an update from the ecosystem, the burn rate shot up by 106,040.49%.

Data from Shibburn shows that over 15.33 million SHIB tokens were burned within that time. This beats the burn rate from earlier today, which saw a recorded 6,519% surge in one day.

However, despite the latest spike, there has not been a noticeable change in the token’s price.

HOURLY SHIB UPDATE$SHIB Price: $0.00001422 (1hr 0.40% ▲ | 24hr -5.93% ▼ )Market Cap: $8,379,884,227 (-5.90% ▼)Total Supply: 589,251,505,066,314

TOKENS BURNTPast 24Hrs: 15,330,933 (106040.49% ▲)Past 7 Days: 117,734,904 (114.03% ▲)

— Shibburn (@shibburn) May 17, 2025

As common knowledge has it, most of the recent burn activity is community-driven. Several transactions on the Shibburn tracker point to an organized effort by holders to reduce the token supply.

The latest update shows that one wallet (ending in f3ce5886e0) burned over 15 million SHIB in a single transaction. Another wallet (7fb81d3e43) carried out four separate burns, adding up to 25 million SHIB in just two days.

These transactions had a huge impact on the daily burn total. This indicates that some holders are still committed to reducing the token’s supply, possibly in the hope of influencing its price over time.

So far, more than 410.7 trillion SHIB tokens have been burned from the original supply. However, the circulating supply is still quite large, at about 584.4 trillion. Even so, steady burn efforts like these help to manage inflation and add a bit of scarcity to the token.

SHIB Price Drops Despite Surging Burn Rate

While the burn rate has been making headlines, SHIB’s price has not followed the pattern closely.

According to data from CoinMarketCap, SHIB was trading at $0.00001425, down by about 5.87% in the last 24 hours. This price movement also saw a slight decrease in its market cap to $8.38 billion.

The price changes came despite a daily trading volume of $210.74 million, which shows that interest in the token is still high.

Still, the fundamentals remain interesting. The maximum supply of SHIB is approaching one quadrillion. Also, over 4.79 trillion SHIB tokens are staked as xSHIB. This shows the network has strong community participation. What remains to be seen is if this latest burn activity will be enough to push the price into a breakout.