Meme Coin Community Intensifies Supply Reduction Efforts
The Shiba Inu (SHIB) community has made a massive push to reduce circulating supply, burning 37,959,900 SHIB tokens in just 24 hours—a staggering 22,662% increase in daily burn rate. This latest burn, tracked by Shibburn, continues the meme coin’s long-term deflationary strategy.
Key SHIB Burn Statistics:
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37.9 million SHIB permanently removed from circulation
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410.7 trillion SHIB burned to date
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584.4 trillion SHIB remaining in circulation
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1.1 billion SHIB burned last week via Shibarium’s automatic burn portal
Price Volatility Hits SHIB Amid Market Downturn
Despite the aggressive burning mechanism, SHIB’s price dropped nearly 10% overnight, falling from $0.00001586 to $0.00001438. While the token saw a brief 1.82% recovery, selling pressure pushed it back down.
Market Context:
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The decline followed Bitcoin’s 3.63% drop from its $112,000 all-time high
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Profit-taking appears to be driving the market correction
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SHIB currently trading at $0.00001438 at press time
Why SHIB Burns Matter
The Shiba Inu ecosystem implements strategic token burns to:
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Reduce circulating supply (increasing scarcity)
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Counter inflation from massive initial token minting
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Support long-term price appreciation
With nearly half of SHIB’s total supply already burned, the community continues accelerating deflationary efforts through:
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Manual burns (wallet transfers)
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Shibarium’s automated burning system
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Community-driven initiatives
Market Outlook for SHIB
While short-term price action remains volatile, the ongoing burn campaign could provide fundamental support for SHIB’s valuation. Investors will watch for:
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Continued high burn rates
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Shibarium adoption growth
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Broader crypto market recovery
The 22,662% burn rate spike demonstrates the SHIB army’s commitment to the token’s scarcity model, even amid challenging market conditions.
For the latest SHIB burn updates and price analysis, follow our crypto coverage.
