Shiba Inu Burn Rate Skyrockets 771,000% as Shibarium L3 Teases Privacy Breakthrough

Shiba Inu (SHIB) has shocked the crypto community with a massive 771,019% spike in its burn rate, according to data from Shibburn. While only 18.6 million SHIB tokens were actually burned in the past 24 hours, the percentage jump signals a dramatic increase compared to previous activity. The biggest burn transaction recorded 16 million SHIB sent to a dead wallet, followed by another 1 million SHIB. Despite these relatively small amounts, the astronomical burn rate has sparked speculation that larger, unrecorded burn transactions may have occurred.

Interestingly, this comes as weekly burn data shows a decrease of 86.04%, with just under 75 million SHIB removed from circulation. The sudden surge could hint at an impending large-scale burn or improved mechanisms driving supply reduction.

Meanwhile, excitement is growing around Shibarium’s upcoming Layer 3 solution. The SHIB team has been developing this upgrade for over a year, and recent updates from SHIB’s marketing lead, Lucie, are fueling anticipation. Layer 3 will prioritize privacy, featuring Fully Homomorphic Encryption (FHE) rollups via SHIB partner Zama. This advanced encryption allows data to remain protected—even while in use—ensuring only users can access their information unless they choose to share it.

With SHIB’s burn metrics drawing attention and its ecosystem expanding through innovative blockchain upgrades, investor interest in Shiba Inu may see a resurgence. As the crypto market eyes SHIB's next move, developments like Shibarium L3 and unexpected burn spikes could play a pivotal role in shaping SHIB’s trajectory.