Shiba Inu Burn Rate Surges 159% as 19.5M SHIB Destroyed
In brief
- 19.5 million SHIB tokens burned over the past seven days
- Weekly burn rate surged 159.19% in the period
- 410+ billion SHIB destroyed since inception, representing 41.08% of initial supply
- SHIB down 9.04% weekly despite 1% daily gains
Weekly Burn Accelerates
Shiba Inu's weekly burn rate has reversed back into the green after an earlier drop. The spike in token destruction over the seven-day window represents a sharp recovery in deflationary pressure on the second-largest meme token by market cap.
Over a longer timeframe, the 30-day burn rate climbed 28.73%, with 146,470,137 SHIB burned in that window. However, the daily burn rate tells a different story. 2,091,894 SHIB were destroyed in the past 24 hours, though the burn rate dropped 30.06% in that timeframe.
Cumulative Deflation and Price Movement
A total of 410,840,064,541,645 SHIB have been burned, representing 41.08% of the initial 1 quadrillion supply. This cumulative destruction reflects years of burn initiatives designed to reduce circulating supply and support scarcity mechanics.
Price action remains mixed. SHIB was up 1.02% in the last 24 hours to $0.000005349, but down 9.04% on a seven-day basis. Implied volatility has fallen to its lowest level since September, suggesting reduced near-term price swings in the token.
