In a significant move impacting the Shiba Inu (SHIB) cryptocurrency, an anonymous user has burned 1 billion SHIB tokens, leading to an 8,470% surge in the token’s burn rate. This transaction was recorded by the community-driven tracker Shibburn on March 24, 2025.
The substantial token burn involved transferring 1 billion SHIB, valued at approximately $13,050 based on the current trading price of $0.00001305 per token, to the official dead wallet. On-chain data indicates that the transaction occurred at 14:55 UTC on the same day.
Investigations into the wallet address ‘0x55B…182E3’ reveal a history of large-scale SHIB burns. Notably, the same wallet executed similar transactions, burning 1 billion SHIB on March 15, 2025, and another 1 billion SHIB on August 7, 2024. Additionally, 700 million SHIB were burned on February 10, 2024. Despite these significant burns, the wallet maintains a balance of 1 billion SHIB, equivalent to $13,050.
Beyond this individual’s actions, the broader Shiba Inu community has actively participated in reducing the circulating supply. On March 24, 2025, a total of 1,004,897,157 SHIB were burned across 14 transactions. The ShibArmyStrong (SAS) team, an ERC-20 token project, contributed by initiating five transactions that collectively burned 20,933 SHIB. These combined efforts resulted in the burn rate soaring by 8,470% within a 24-hour period.
The Shiba Inu community’s ongoing burn initiatives aim to decrease the token’s circulating supply, potentially enhancing its value over time. To date, more than 410.74 trillion SHIB have been burned. Projects within the Shiba Inu ecosystem, notably Shibarium, have played a pivotal role in these efforts. Since its launch in August 2023, Shibarium has destroyed over 50 billion SHIB tokens by allocating a portion of transaction fees to the burn process. Initially conducted manually, this process was automated in August 2024, leading to the incineration of over 700 million SHIB tokens since automation.
This report is for informational purposes only and does not constitute financial advice. The views expressed herein reflect those of the original author and not necessarily those of this publication. Readers should conduct their own research before making any investment decisions.
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