Shiba Inu’s token burn activity picked up pace over the last 24 hours, with more than 4 million SHIB removed from circulation. Data from the Shibburn tracking website confirmed the burn rate rose by 63%. The development comes as the token’s price pulls back after a five-day rally.
At the time of writing, SHIB trades at $0.00000582, down 0.20% in 24 hours. The token reached a weekly high of $0.0000063 on March 13 before retreating. It had climbed steadily from a low of $0.00000528 on March 9. Sunday brought fresh selling pressure, with SHIB touching an intraday low of $0.00000582 as short sellers added to their positions.
Supply Figures and the Scale of Historical Burns
Shiba Inu’s total supply currently stands at 589,245,487,886,725 SHIB. The circulating supply is 585,475,487,843,975 SHIB. These figures reflect years of deliberate token reduction efforts by the project and its community.
Since the original issuance of one quadrillion tokens, a total of 410,754,512,113,274 SHIB have been permanently removed. That figure accounts for more than 40% of the initial supply. The majority of burned tokens trace back to Ethereum co-founder Vitalik Buterin, who destroyed 410 trillion SHIB, roughly 90% of the tokens Shiba Inu developers sent to his wallet without prior notice.
Burn Mechanics and Price Outlook
The daily burn of 4 million SHIB is modest relative to the total circulating supply. Its direct impact on price is limited in the short term. However, consistent burns reduce available supply over time, which can support price stability when demand holds steady or rises.
The broader price direction for SHIB in the near term appears tied more to market sentiment than to burn activity alone. Altcoins across the board continue to underperform. Most remain well below their recent peaks. Social media mentions of an “altseason”, a period when alternative cryptocurrencies outperform Bitcoin, have dropped to their lowest level in at least two years. The absence of retail enthusiasm is a notable headwind for tokens like SHIB.
Source: https://coinpaper.com/15450/shib-burn-rate-surges-63-as-shiba-inu-price-falls-for-second-straight-day
