Shiba Inu's (SHIB) burn rate skyrocketed by 8,470% following a massive token burn by an anonymous wallet.
Shiba Inu's Burn Rate Soars 8,470%
An anonymous wallet burned 1 billion SHIB tokens in a single transaction worth around $13,050.
What Happened?
This burn triggered a surge in SHIB's burn rate, marking a significant shift in token supply reduction.
The Impact of the Burn
This mysterious wallet has previously burned massive amounts of SHIB, including 1 billion SHIB on March 15, 2025, and another 1 billion in August 2024.
Burn History of the Wallet
Over the last 24 hours, 1.004 billion SHIB were burned across 14 transactions by the community.
More SHIB Burns
The ShibArmyStrong group burned 20,933 SHIB in five separate transactions as part of the ongoing effort.
Role of the ShibArmyStrong
To date, over 410.74 trillion SHIB have been permanently removed from circulation.
Total Burned So Far
The burn efforts are part of a long-term strategy to reduce SHIB supply, potentially increasing the token's value over time.
Why This Matters
The Shiba Inu community’s commitment to burning tokens highlights a growing trend to control supply.
A Growing Trend
While this burn strategy shows promise, investors should conduct thorough research before making any financial decisions regarding SHIB.