Solana’s Catwifhat Surpasses Shiba Inu in Percentage of Token Supply Burned

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According to recently shared blockchain data, Catwifhat (CWIF), a meme coin built on the Solana blockchain, has overtaken Shiba Inu (SHIB) in terms of the percentage of total supply burned. Despite Shiba Inu’s long-standing reputation as one of the most heavily burned cryptocurrencies, Catwifhat now claims the lead in relative supply destruction, highlighting its aggressive deflationary model.

CWIF Burns Over 60% of Total Token Supply

The official Catwifhat X account recently cited data from blockchain tracker Grok 3, showing that CWIF has burned more of its initial supply than SHIB. CWIF launched in December 2023 with an initial supply of 999.99 trillion tokens, but the team immediately incinerated over 920 trillion, reducing the supply to 77.8 trillion at launch.

The Catwifhat team implemented Solana’s Token-2022 program to sustain this aggressive burn mechanism, enabling a 4% auto-burn fee on every transaction. Every CWIF trade sends 4% of the transaction amount to a dead wallet, permanently removing those tokens from circulation.

As of May 7, this system has incinerated over 47 trillion CWIF, representing 60.9% of the project’s adjusted initial supply. Currently, the total CWIF supply stands at 30.41 trillion, nearly all of which remains in active circulation.

Shiba Inu Still Leads in Absolute Token Burn

While CWIF wins in percentage terms, Shiba Inu still leads in the total volume of tokens burned. Since launching in August 2020 with a 1 quadrillion token supply, the SHIB community has burned 410.74 trillion tokens, amounting to 41% of its original supply.

Shiba Inu’s current max supply stands at 589.55 trillion, with 589.25 trillion in circulation. Fueled by manual and automated mechanisms like Shib Torch, its burn strategy has steadily removed tokens from the market over time. However, in relative terms, SHIB lags behind CWIF’s rapid percentage burn pace.

Market Cap and Holder Statistics

Despite CWIF’s aggressive burning, its market cap remains modest at $2.78 million, ranking it 1,541st on CoinMarketCap. In contrast, Shiba Inu holds a market capitalisation of $7.91 billion, placing it 17th among all cryptocurrencies.

CWIF’s growing community includes over 13,170 addresses holding at least $10 worth of tokens. Additionally, 1,846 wallets hold over $100 in CWIF, while 186 addresses own CWIF tokens valued at $1,000 or more. Interestingly, data shows that 2,219 blockchain addresses have at least $1 billion worth of CWIF, although this figure likely includes speculative or wallet misreads.

Catwifhat’s ability to burn over 60% of its supply showcases a strategic use of Solana’s advanced token infrastructure and a strong focus on deflationary economics. While it trails far behind Shiba Inu in valuation and adoption, its burn rate draws attention in the meme coin space. As both projects continue evolving, their contrasting burn strategies highlight different crypto value creation approaches.