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
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.
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.
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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.
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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.
