Half a Billion SHIB Burned This Week, but Weekly Burn Rate Drops 19.8%
The Shiba Inu community burned 550,878,483 SHIB over the past seven days, marking a significant token removal from circulation. Despite this, the weekly burn rate fell by 19.84% compared to the previous week’s 1 billion+ SHIB destruction. On a daily basis, however, activity surged: 13,526,731 SHIB were burned—a 1,906.84% increase—with the three largest transactions sending 8.71 million, 3.04 million and 1.64 million SHIB to unspendable wallets. Since 2021, a total of 410.75 trillion SHIB have been burned, following a massive initial removal by Vitalik Buterin of half the token’s quadrillion supply. Currently, 584.53 trillion SHIB remain in circulation, as the ongoing deflationary trend continues to shape market dynamics.
Neutral
While the substantial SHIB burn reduces circulating supply—a bullish deflationary signal—the notable 19.8% drop in the weekly burn rate tempers immediate positive impact. Daily burns spiked, indicating episodic activity, but the reduced weekly pace suggests waning community engagement or strategic pauses. Historically, large burns have provided short‐term price support, yet inconsistent burn rates can mute momentum. In the short term, traders may remain cautious, awaiting stable burn patterns. Long term, sustained deflation through consistent burns could underpin price appreciation, but the current slowdown introduces uncertainty about SHIB’s supply-driven bullish potential.