Prominent tracker Shibburn reported a massive SHIB token burn, shaking the crypto community. The burn rate jumped 4,461%, triggered by a transaction that destroyed 3.16 million SHIB. Notably, 3,062,046 SHIB were burned in a single transfer to a dead wallet, permanently removing them from circulation.
Weekly Burn Totals Nearly 628 Million SHIB
While the recent daily burn stood out, the weekly figures proved even more striking. Over the past week, the SHIB community burned 627,973,941 SHIB, a 364.72% surge in the weekly burn rate.
Notably, one transaction alone destroyed 600 million SHIB, sent to an unspendable address. Consequently, this steady token burn reflects ongoing deflationary efforts to cut supply and potentially raise value.
SHIB Team Highlights BONE Token’s Potential
Amid the burning frenzy, the SHIB-affiliated account @Shibizens reminded the community of five key reasons why the BONE token remains vital to the project’s future. To begin with, BONE provides essential utility on Shibarium, Shiba Inu’s layer-2 blockchain. Specifically, it powers every transaction as the gas token, enabling the creation of transactions, decentralized applications (dApps), and NFT mints.
Second, BONE plays a governance role, allowing holders to vote on proposals that shape the ecosystem’s development. Third, with a fixed supply of 250 million tokens, BONE maintains a deflationary and scarce nature, potentially boosting its long-term value.
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Moreover, fourth, BONE remains deeply integrated across the SHIB ecosystem as it supports ShibaSwap, Shibarium, SHIB burns, and future dApps, ensuring cross-platform utility. Finally, the SHIB team underscored BONE’s strong community backing. Supported by the passionate ShibArmy and a clear roadmap, BONE benefits from long-term project commitment and sustainable growth potential.
This week’s substantial SHIB burn, combined with the highlighted BONE advantages, demonstrates the ecosystem’s strategic focus on deflation and utility. As millions of SHIB tokens continue to vanish from circulation, and BONE gains traction as a governance and gas token, the Shiba Inu community shows strong alignment toward driving long-term value.
