• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
Shiba Inu burn

Shiba Inu Burn Rate Crashes With Only 2 Million SHIB Burned, What’s Going On?

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Shiba Inu burn rate has flatlined over the last 24 hours as the burned tokens, as well as the number of burn transactions carried out during this time, dropped dramatically. This drop in the burn rate could be indicative of SHIB users not being as involved in reducing the meme coin’s supply as they used to.

Shiba Inu Burn Rate Fails To Move

At the beginning of the year, interest in burning Shiba Inu tokens in a bid to reduce its supply was very high, and this saw a large number of tokens being burned. The Shiba Inu team also joined in on the effort, using fees generated from the Ethereum Layer 2 network Shibarium to also carry out burns.

Related Reading: Ripple Can ‘Burn’ 40 Billion XRP Locked In Escrow, CTO Reveals How

However, as the market recovered, the interest in burning SHIB tokens waned. This is evident in the number of burn transactions recorded over the last few weeks, which is much lower compared to late last year and early this year. For example, in the last 24 hours, there have been only two burn transactions recorded by the burn tracking website Shibburn.

In total, only 2 million SHIB coins were burned in the last day and going by the current value of the token, approximately $19 worth of tokens have been burned. This burn figure also coincides with the number of SHIB tokens that were burned on the previous day, leading to only a 1.93% difference in the last two days.

The meme coin is not faring any better on the weekly chart, as outlined by the burn tracker. Shibburn’s update on its official X (formerly Twitter) account shows that there has been a 38% decline in the burn rate in the last seven days, with only 64.85 million tokens worth around $611, burned.

Why Are SHIB Holders Not Burning SHIB?

The reluctance of Shiba Inu holders to burn tokens could be linked to the price recovery that has been recorded in the crypto market. As the market heads into what is expected to be an explosive bull market, prices are expected to rise rapidly, and SHIB is not left out. As a result, holders could be holding on to their coins as they expect the coins to appreciate in value during this time.

Related Reading: Ethereum LSTs, LRTs, And Stablecoins: Decoding The Effects Of ‘Magic Money’ On Bitcoin And Crypto

In the midst of this, the Shiba Inu team has been making efforts to burn more SHIB. As Bitcoinist reported, the team’s marketing lead, Lucie, revealed that a portion of the proceeds of its new NFT project, known as Sheboshi, will be used to carry out burns for SHIB, among others.

The team is also working on automating SHIB burns on the Shibarium network using the fees generated. Once implemented, this burn mechanism is expected to remove billions of tokens each month, drastically reducing the supply over time.

Shiba Inu price chart from Tradingview.com (SHIB)

SHIB price at $0.0000094 | Source: SHIBUSD on Tradingview.com
Featured image from ICOdesk, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Scott Matherson

Scott Matherson

Follow

Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Full Profile

Related Posts

Shiba Inu

Shiba Inu Market Maker Is On The Move With Billions Of SHIB, Here’s What We Know

4 days ago
Shiba Inu

Shiba Inu Breakout Structure Suggests 670% Rally To $0.000155

5 days ago
Shiba Inu

Shiba Inu Exec Gives Reasons To Keep Going Despite SHIB Price Crash

1 week ago
Shiba Inu Dogecoin

Can Dogecoin And Shiba Inu Prices Recover? What To Expect In September

1 week ago
Shiba Inu

What The LEASH V2 Launch Means For Shiba Inu Holders

2 weeks ago
Shiba Inu

Shiba Inu Sustains Accumulation: ‘Alpha Price’ Metric Says 125% Surge Is Coming

2 weeks ago

Premium Sponsors

Press Releases

  • miner

    Ripple (XRP) is attracting investor interest: ALL4 Mining...

    13 minutes ago
  • MINER

    2025 Free Crypto Cloud Mining Sites Detailed Guide: No...

    2 hours ago
  • BAY Miner’s

    BTC Swings? BAY Miner’s USD Contracts Yield $85,777...

    2 hours ago
  • Bitcoin

    BTC’s surge doesn’t wait! GMO Miner helps you...

    2 hours ago
  • Cloud Mining

    Compliance and High Returns: ALR Miner Cloud Mining, with...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.