According to data from Shibburn, the Shiba Inu community has achieved a remarkable milestone in its token-burning efforts. The burn rate has skyrocketed by 5,154% in the past 24 hours. The community successfully removed 61,468,595 SHIB tokens from circulation through “inferno” wallets.
Key Burn Statistics:
- Total tokens burned: 61,468,595 SHIB
- Burn rate increase: 5,154%
- Largest single burn: 48,266,929 SHIB (80.95% of total)
- Number of burn transactions: 7
The most significant burn transaction, accounting for nearly 81% of the total amount, was executed by an anonymous wallet. This was followed by two notable transactions of 6,008,171 and 3,938,558 SHIB respectively.
Market Impact and Price Analysis: CoinGecko data shows SHIB’s price movement:
- Current price: $0.00002539
- 24-hour peak: $0.00002652
- Initial price: $0.00002467
- Weekly growth: 12% since Tuesday
Strategic Community Direction: The SHIB team’s marketing lead, Lucie, recently addressed the community regarding investment strategies. Her key messages emphasized:
- Sustainable growth over artificial price pumping
- Patient, long-term commitment to development
- Focus on organic community building
- Caution against relying on paid influencer promotions
This guidance comes as the Shiba Inu ecosystem continues to evolve beyond its meme coin origins into a more comprehensive blockchain platform.
Market Context: As the second-largest meme cryptocurrency by market capitalization on CoinMarketCap, SHIB has shown resilience despite market volatility. The recent price action demonstrates a pattern of:
- Initial 7.5% surge to $0.00002652
- Subsequent 4.3% correction
- Current stabilization at $0.00002539
The burn mechanism, a key feature of SHIB’s tokenomics, continues to play a crucial role in the token’s long-term value proposition by systematically reducing the total supply.
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