Shiba Inu Burns Over 15 Million SHIB Amid Market Downturn

Shiba Inu (SHIB) continues its aggressive token burn strategy, eliminating over 15 million SHIB from circulation today despite a broader crypto market slump. According to data from Shibburn, a total of 15,239,220.91 SHIB was sent to dead wallets, pushing the all-time total burned to 819 million SHIB.

While today’s burn reflects the community’s ongoing commitment to reducing supply, the overall SHIB burn rate has dropped 60.65% in the past 24 hours. This marks a sharp reversal from a recent 12,278% spike, during which over 110 million SHIB were burned in a single day.

The most significant burn today was a single transaction removing over 15 million SHIB, followed by two separate transfers of 10 million SHIB each. In total, 37.6 million SHIB were burned over the last 24 hours.

Despite these burn efforts, SHIB's price has dipped 3%, in line with the broader market downturn. On-chain data from DefiLlama also shows that Shibarium’s total value locked (TVL) has remained flat, reflecting cautious investor sentiment amid ongoing market volatility.

Although the SHIB team appears to be slowing its burn pace, likely in response to bearish market conditions, the community remains hopeful. Many believe these burns will support long-term value growth by reducing token supply and encouraging scarcity.

As the crypto market stabilizes, SHIB holders and investors are watching closely for signs of a rebound. Despite short-term price stagnation, consistent token burns and ecosystem updates may positively impact SHIB's future performance. With millions of SHIB continually removed from circulation, the strategy could play a key role in shaping the token’s trajectory in the coming months.