The Shiba Inu (SHIB) community has successfully burned over 327 million SHIB tokens this week, marking a significant 300% increase in the burn rate, according to blockchain tracker Shibburn. This aggressive token burn reflects the ongoing commitment by the SHIB army and developers to reduce the overall supply of the meme coin.
Whale Burn Drives Majority of Token Destruction
A major contributor to this burn event occurred just two days ago, when a single anonymous whale transferred 263,709,608 SHIB to a dead wallet. Shibburn tagged the whale as anonymous, and this one transaction accounted for the bulk of the week’s token destruction.
In addition to this massive transfer, smaller but still significant burns took place earlier in the week. Five days ago, a burn of 13,989,159 SHIB occurred, followed by a burn of 15,365,608 SHIB two days ago. These cumulative transactions pushed the total weekly burn to an impressive 327,103,078 SHIB tokens.
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Despite the remarkable weekly burn figures, the current daily burn rate has sharply declined. SHIB burners destroyed only 113,531 tokens in the past 24 hours, causing a 99.96% drop from the weekly average. This sharp decline shows that large one-time transactions, rather than consistent burning, fueled the earlier surge in activity.
SHIB Team Warns Community of Scam Tokens
Meanwhile, the Shiba Inu development team has issued a public warning on the X social media platform. They alerted the community about scam projects attempting to impersonate official SHIB ecosystem tokens, such as SHIB, BONE, LEASH, and TREAT.
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The SHIB team emphasized that these fraudulent tokens falsely claim to be affiliated with the Shiba Inu ecosystem in order to deceive investors. They urged users to verify token legitimacy through the official SHIB website and to rely solely on official communication channels. According to the team, any project not directly mentioned by core SHIB developers or official social media pages should be treated as suspicious.
While the SHIB community continues to reduce the token’s circulating supply through coordinated burns, investors must remain cautious.
The significant spike in the burn rate demonstrates the power of collective action. However, with increased attention comes higher risk of scams. Therefore, the SHIB team encourages holders to stay informed and to verify all information through trusted sources.
