Exciting news for Shiba Inu (SHIB) fans! The rate at which SHIB tokens are being “burned”—meaning taken out of circulation permanently—has soared by an incredible 8,470%. This info comes from a website called Shibburn, which tracks how many tokens are burned.
Recently, an anonymous wallet transferred 1 billion SHIB tokens to the official burn address. At the current price of about $0.00001305, this transaction was worth around $13,050. This mysterious wallet has burned SHIB tokens before. It burned 1 billion SHIB on March 15, 2025, 1 billion SHIB again on August 7, 2024, and 700 million SHIB on February 10, 2024. Right now, it still holds 1 billion SHIB, valued at about $13,050.
So, what does “burn rate” mean? It’s simply how fast a cryptocurrency is being permanently removed from the market. This is done by sending the tokens to a special “burn address” that no one can access.
As of now, the price of SHIB is around $0.00001344. Although the burn rate jump has made many people excited, the price of SHIB hasn’t changed quickly. However, the large increase in burning tokens could help raise demand and value in the future. But remember, SHIB has a huge total supply, so a lot of tokens need to be burned to make a big difference in price.
As trader Ali-Subhani mentioned recently, the Shiba community is working hard and using new tools like Shibarium to make SHIB better and stronger in the market.
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