SHIB Burns Skyrocket 106,040%, But There’s Big Catch
05/17/2025 15:55
Massive six-digit SHIB burn rate increase has been detected over the past day
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One of the key Shiba Inu metrics, the SHIB burn rate, has suddenly jumped to an impressive six-figure level since Friday morning, according to a tweet issued by the Shibburn wallet tracker.
However, there is a substantial catch to this tremendous SHIB burn rate surge.
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SHIB burns soar 106,040.49%
A tweet published by the above-mentioned data source earlier today shows that the SHIB burn rate has rocketed as high as 106,040.49% over the past 24 hours. However, the amount of SHIB coins destroyed this time is much smaller that one, perhaps, would expect here and it comprises 15,330,933 SHIB.
— Shibburn (@shibburn) May 17, 2025HOURLY SHIB UPDATE$SHIB Price: $0.0000143 (1hr -0.36% ▼ | 24hr -5.33% ▼ )
Market Cap: $8,423,797,347 (-5.36% ▼)
Total Supply: 589,251,505,066,314TOKENS BURNT
Past 24Hrs: 15,330,933 (106040.49% ▲)
Past 7 Days: 136,629,713 (163.72% ▲)
Still, this burn-rate SHIB number stands in a sharp contrast to what was burned on Friday - 14,444 SHIB with the burn rate down by almost 100%.
So far there have been just two burn transactions today. The largest one did it all, moving 15,023,347 SHIB from the circulating supply and into an unspendable wallet. The second one burned only 307,585 SHIB.
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SHIB executive highlights SHIB team's milestones
On Friday, SHIB’s official marketing lead, Lucie, took to the X platform to remind the Shiba Inu community about the enormous role played by the SHIB team in the fate of the same-name meme coin and its ecosystem. Lucie published a recap of all products launched by the team for SHIB and all the hard work undertaken by it to expand and support the meme coin and its ecosystem.
Starting from 2020, Lucie said, the team embraced SHIB after its creation and launch by Ryoshi (it was launched as a decentralized ERC-20 token on Ethereum) with no presale or team allocation.
In 2021, the team launched the ShibaSwap dex, introducing DeFi to it with staking and liquidity farming to SHIB. Then followed the launch of Shibarium in August 2023. Later, the team implemented an automatic burn portal on Shibarium, developed the SHIB Identity System. Parallel to that, the team succeeded in achieving numerous SHIB listings on more than 100 exchanges, including Binance, Coinbase, Kraken, and Bitstamp.
After that, SHIB real-world adoption expanded as the meme coin was added as payment by global brands and retailers, SHIB expanded into the gaming and NFT spheres. Last year, the team finally rolled out the SHIB Metaverse – a virtual world that reflects SHIB’s vision with customized lands, hubs meant to be used for digital commerce in the future.