Shiba Inu (SHIB) Token Burning Increases 62,000%, What is the Impact?

Bittime - Shiba Inu (SHIB) token burn rate increased sharply. Within 24 hours, 505.6 million SHIB had been permanently removed from circulation. This burn rate increase reached a fantastic figure, namely 62,000%! 

Will this massive burn affect the price of the Shiba Inu memecoin in the future? Check out the review in this article!

Shiba Burn Rate Drastic Surge in One Day

Source: X (@shibburn)

According to on-chain data, one large transaction was responsible for burning 459.3 million SHIB. This sparked speculation among investors and the crypto community regarding its potential impact on token prices.

Additionally, the Shiba Inu ecosystem has also seen a significant increase in activity. The Shibarium layer-2 blockchain recorded a spike in daily transactions from 69,800 transactions on March 12 to 1.46 million transactions on March 13. 

Read also: Shiba Inu (SHIB) Price Analysis and Prediction 2025

This increase indicates greater interest from users in the Shiba Inu network.

What is the SHIB Market Condition?

In addition to the spike in burn rates, data from IntoTheBlock reveals that large SHIB transactions increased by 64%. Meanwhile, the number of daily active addresses rose by 1.1%. 

Currently, around 104.14 trillion SHIB ($1.27 billion or around IDR 20.7 trillion) is in the money. This means that the investment is still profitable for the holder. 

However, as much as 846.99 trillion SHIB is still "out of the money", indicating that the majority of SHIB holders are still experiencing losses.

Read also: Can Shiba Inu Coin Holders Get Rich? This is the SHIB Price Prediction

At the time of writing, the Shiba Inu price was at $0.00001215 (around IDR 0.198) with a market capitalization of $7.16 billion (around IDR 116.8 trillion). Trading volume in the last 24 hours also jumped to more than $200 million (around IDR 3.26 trillion).

Shiba Inu Ecosystem Expansion

Not only has the burn rate increased, the Shiba Inu development team also continues to develop its ecosystem. On March 13, the project's marketing team announced the launch of Shib OS. 

Shib OS is a decentralized governance platform aimed at strengthening the Shiba Inu community. This move is believed to provide more utility to the SHIB token and its ecosystem.

FAQ

1. What is Shib Burn token?

Shib burn tokens is a process where a certain amount of Shiba Inu tokens (SHIB) are sent to addresses that cannot be reused (burn addresses), thereby reducing the circulating supply.

2. Why has SHIB token burning increased drastically?

This drastic increase occurred due to a single large transaction that removed 459.3 million SHIB from circulation, as well as increased activity on the Shibarium network.

3. Can a high Shiba burn rate increase the price of SHIB?

In theory, reduced supply can increase prices if demand remains constant or increases. However, SHIB price is also influenced by other factors such as market trends and investor sentiment.

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Reference 

Benzinga, Shiba Inu's Burn Rate Soars, Removing 505 Million Tokens From Circulation, accessed March 17, 2025.

Shibburn, Shibburn Official X Account, accessed March 17, 2025.

Author: Y