Shiba Inu (SHIB) Burns 14M Tokens as Community Pushes for Higher Scarcity

The Shiba Inu (SHIB) community witnessed a major token burn, with 14,372,556 SHIB permanently removed from circulation in a single transaction. Token burning involves sending tokens to an inaccessible "dead wallet," reducing supply to create scarcity and potentially drive value. This recent burn is part of ongoing efforts to counter SHIB’s massive supply.

In February 2025 alone, 389,189,413 SHIB were burned across 134 transactions. However, some community members argue that the burn rate remains insufficient for a significant price impact. Over the last 24 hours, 17,548,578 SHIB were burned, reflecting a 75.49% decline. In the past week, 102,011,340 SHIB were burned, marking a 39.04% drop.

At the time of writing, SHIB traded at $0.00001368, down 1.78% in the last 24 hours, following a recent rebound. The broader meme coin market received a boost after the SEC clarified that meme coins like SHIB are not securities but rather collectibles. This statement reassured investors, clarifying that meme coins do not qualify as investments in an enterprise nor rely on others’ managerial efforts for value appreciation.

For SHIB to reclaim bullish momentum, it must break above key resistance levels at $0.00001745 and $0.00001926, potentially aiming for $0.000025 and $0.00003. However, a drop below $0.0000116 could signal further downside.

While the burn strategy aims to create scarcity, the debate continues on whether more aggressive burns are needed to significantly impact SHIB's price. As the market digests these developments, SHIB holders watch closely for price movements and further community-driven burn initiatives.