SHIB Burns Jump 300% but SHIB Army Demands Much Bigger Burns

According to a recent tweet published by the popular meme coin wallet tracker Shibburn, over the past 24 hours, the SHIB community has transferred an impressive amount of canine-themed coins to dead-end wallets.

Meanwhile, a tweet published by a SHIB-themed X account has launched a poll that demands the SHIB team to accelerate burns and get rid of an amount equal to 30% to 90% of the SHIB supply in the near future.

SHIB burns soar 300%

The aforementioned data source revealed that during the last 24 hours, the SHIB burn rate metric has staged an impressive increase by more than 300%. That growth was driven by burning 24,609,003 Shiba Inu coins.

The two largest burn transfers carried 17,220,462 SHIB and 4,635,583 SHIB to unspendable blockchain addresses, ensuring the high burn rate increase.

The tweet also shared data related to weekly burns of the popular meme cryptocurrency. Over the past seven days, the SHIB community has managed to dispose of roughly 4x daily SHIB burns — 89,141,480 Shiba Inu coins. The ultimate weekly burn rate now shows a 60.82% increase.

There are still 584,187,080,732,459 SHIB circulating out there and 5,069,933,926,697 SHIB staked, according to the Shibburn website.

Related

Thu, 01/09/2025 - 09:35

SHIB Burns Plummet 72%, Here's Immediate Price Response

Yuri Molchan

SHIB burn voting poll for community

In the meantime, a SHIB-themed account @cryptoshibs has published a tweet stating that “ShibaInu $SHIB will go to the moon 🚀when they burn 90%” of the circulating supply. It also launched a poll, letting the community vote for persuading the SHIB team to burn 30% or 90% of it.

However, the SHIB team, represented by its marketing lead Lucie and the lead developer Shytoshi Kusama, stated that they do not control the circulating SHIB supply and, therefore, cannot accelerate burns in any way. The only way to do that, they said, is to increase Shibarium utility so that more SHIB get destroyed thanks to BONE gas fees through the automated mechanism introduced last year.

So far, according to earlier tweets of the SHIB team, they have managed to burn roughly 300,000,000 SHIB per month.