SHIB Burn Rate Slows Despite 3M Tokens Torched in 24 Hours
In brief
- 3 million SHIB burned in 24 hours, daily burn rate down 15.80%
- Weekly burn rate declined 28.12%, monthly rate fell 37.44% versus prior periods
- 410.8 trillion SHIB burned since inception, representing 41.08% of total supply
Burn Activity Picks Up, Momentum Doesn't
The latest burn cycle moved 59.77 million SHIB worth $251 to dead wallets over the past seven days. That's meaningful on paper. But it masks a trend: the rate at which SHIB is being removed from circulation is slowing. Over the last 30 days, 286.85 million SHIB entered the burn pool, yet the weekly and monthly comparisons show declining velocity.
The Long Road to Deflation
A total of 410.8 trillion SHIB have been burned across 21,266 transactions since the token's inception. That represents 41.08% of the total supply. Much of this owes to Ethereum creator Vitalik Buterin's massive 410 trillion SHIB burn in May 2021, a single event that accelerated the deflation narrative early on. Without that windfall, the ongoing burn rate looks even more modest.
Price Holding Steady Despite Headwinds
SHIB was down 1.63% in the last 24 hours to $0.000004164 at the time of writing, though it gained 0.82% over the week. The token's price action suggests the market isn't moved by incremental burn milestones alone. Shiba Inu burn progress remains slow despite the recent activity, a reality check for holders betting on deflation-driven upside.
