Shiba Inu’s burn rate has recorded a dramatic surge, with the popular Shibburn tracker reporting a 12,833.29% spike in the last 24 hours. SHIB holders collectively destroyed 13,090,171 SHIB tokens since yesterday morning. This significant milestone underscores the community’s ongoing efforts to reduce the token’s supply and enhance its long-term value.
The two most significant burn transactions involved the removal of 5,000,000 and 7,515,411 SHIB from circulation. These transactions alone account for the majority of the burned tokens during this period. Since Shiba Inu’s burn mechanism began in 2021, the total amount of destroyed tokens has now reached 410.75 trillion SHIB. Despite these figures, over 584.53 trillion SHIB remain in circulation, leaving ample supply still available.
SHIB Price Declines Despite Bullish Supply Reduction
Surprisingly, the market did not respond positively to this aggressive burn activity. SHIB’s price dropped 3.77% since Thursday, falling from $0.00001168 to $0.00001124 at the time of writing.
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Although many investors typically expect a declining supply to trigger a price rally, SHIB’s latest price action defies that assumption. This suggests that broader market conditions or investor sentiment may currently outweigh the deflationary impact of token burns.
SHIB Team Warns Against Scams and Fake Tokens
Meanwhile, the Shiba Inu team has issued a stark warning to the community. Lucie, the official SHIB marketing lead, called attention to the growing presence of fraudulent tokens. She posted a sharp message on X (formerly Twitter), telling scammers to “keep your fake SHIB away from my post.”
Lucie reaffirmed that there is only one authentic SHIB token, which was launched on the Ethereum blockchain. She urged followers to stay vigilant and block any accounts promoting counterfeit versions of Shiba Inu. This warning serves as a reminder for investors to verify token authenticity before making any transactions.
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While SHIB’s burn rate surged to astonishing levels, the market response failed to align with expectations. At the same time, the project’s leadership continues to defend the community against rising scam threats. As SHIB’s fundamentals evolve, both tokenomics and investor caution will play critical roles in determining its trajectory.
