Shiba Inu burn rate soars 8,470%: What does the coin's price look like today?

Cryptocurrency Shiba Inu's burn rate surged a staggering 8,470%, according to Shibburn

Published on: Mar 25, 2025, 19:25:56 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

Cryptocurrency Shiba Inu's burn rate surged a staggering 8,470%, according to Shibburn, a dedicated SHIB burn tracking platform. An anonymous wallet transferred 1 billion SHIB tokens in a single transaction to the official burn address, the website further stated. A Coincodex report states that by January 2025, the cumulative worth of all the SHIB that has been burned exceeded $4.5 billion.

Shiba Inu's burn rate surged a staggering 8,470% (Unsplash, Grok)

Data from Shibburn indicates that an anonymous wallet, identified as '0x55B...182E3' executed a burn of 1 billion SHIB tokens. The transaction was valued at approximately $13,050, based on SHIB’s market price of $0.00001305 at the time.

The block explorer Etherscan shows that the same wallet burned 1 billion SHIB on March 15, 2025, 1 billion SHIB on August 7, 2024, and 700 million SHIB on February 10, 2024. It still retains 1 billion SHIB, valued at approximately $13,050.

What is the burn rate in crypto?

Burn rate refers to the speed or frequency at which a project's tokens or coins are permanently removed from circulation, a process known as "burning." This is typically done by sending the tokens to a designated "burn address" or "dead wallet"—a cryptographic address with no accessible private key, ensuring the tokens can never be retrieved or spent.

What's next and today's price

As of Tuesday, Shibburn reports that the price of SHIB is currently fluctuating around $0.00001344. While the burn rate surge has ignited excitement, the immediate price reaction has been relatively moderate.

The burn rate’s 8,470% surge is a bullish signal for many in the SHIB community, as reducing supply could, in theory, boost demand and value over time.

“While SHIB's burn rate has seen notable increases, the vast total supply means that substantial burns are required to effect significant price changes. The community's ongoing efforts, coupled with technological advancements like Shibarium, aim to bolster SHIB's tokenomics and market position,” trader and Binance writer Ali-Subhani noted in an article last week.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Stay updated with US News covering politics, crime, weather, local events, and sports highlights. Get the latest on Donald Trump and American politics along with Horoscope 2026.