- Shiba Inu’s burn rate skyrocketed 83,891% in 24 hours after an 85.79 million SHIB token burn, pushing the price up 5% to $0.00001368.
- The burn marks the largest single transaction since July 29 and contributed to a 637.92% weekly burn rate increase.
- The event boosted market sentiment, aligning with a broader crypto rally led by Ethereum and Solana.
In one of the most dramatic SHIB supply cuts this year, an anonymous holder torched more than 85 million Shiba Inu tokens in a single swoop—sending the burn rate up by a staggering 83,891% in just 24 hours. The move lit up the community, briefly nudging SHIB’s price 5% higher to $0.00001368. For a token with a massive 589 trillion supply, it’s a small dent numerically, but symbolically? It’s huge.
The Largest Burn in Weeks
This wasn’t your run-of-the-mill burn. Clocking in at exactly 85,795,990 SHIB, the transaction marks the biggest single burn since July 29. Before this, no transaction in the past two weeks had even crossed 20 million SHIB. The only comparable event was late July, when a Coinbase user famously pulled 600.7 million SHIB off the exchange and set them ablaze. These big, sudden burns aren’t everyday occurrences, but when they happen, they tend to stir optimism in a market hungry for supply shocks.
Supply Squeeze Momentum Builds
The Shibburn tracker reported a total of 88.03 million SHIB destroyed across six transactions in the same 24-hour window, with the 85.79 million burn dominating the tally. Over the last week, the community collectively burned 101.62 million tokens, pushing the weekly burn rate up 637.92%. While those numbers are still small compared to SHIB’s total supply, the steady drumbeat of burns—especially large, public ones—keeps the narrative of scarcity alive.
Riding the Market’s Updraft
SHIB’s price reaction didn’t happen in isolation. The burn coincided with a broader crypto rally that lifted heavyweights like Ethereum and Solana. But for SHIB holders, the timing was perfect—linking a tangible burn event to a visible price bump. If the community keeps up the pace, and if broader markets stay warm, Shiba Inu’s burn mechanics could become a more prominent driver in the coin’s price story heading into the next market cycle.
