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One of the biggest meme coins, Shiba Inu (SHIB), printed a big holiday stat on the burn counter as daily burns of the popular meme coin jumped 505.74% on Christmas, with 5,984,918 SHIB recorded as burned over the last 24 hours.
The bigger picture remains the same. The total amount of SHIB that has been burned from the initial supply is shown as 410,753,960,463,832, while the maximum total supply of the Shiba Inu coin is listed at 999,982,335,599,975 tokens.
The real amount of SHIB is actually 585,277,417,227,539, and another 3,968,622,308,628 SHIB are staked as xSHIB. Yes, burns are still happening, but 5.98 million day is not a supply event. It is more of a mood check.
The number looks dramatic because the percentage is dramatic, but this is the usual burn-metric trap since burn rate is a comparison to a prior window, so when the starting point is low, one bigger batch can turn the readout into a headline.
Here's how price of Shiba Inu coin reacted
The price of the meme coin did not follow the burn headline. On the daily TradingView chart, SHIB was trading near $0.00000719 this Christmas and was slightly red during the session. The chart is still showing lower highs into late December, so SHIB fans will probably see this burn spike as just an interesting twist rather than a total game-changer.
So, is it just a coincidence? Maybe. Christmas can be a bit weird, with odd prints and batchy activity, especially with community coins where burns can be coordinated, delayed or just reported at different times.
The key is to follow through. If the next few daily burn readings stay high and the price of the Shiba Inu coin stops dropping, the burn narrative becomes a real market input. If it does go back to normal, today's 505% is just a festive number on a slow day.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team