- Shibburn data shows daily SHIB burn rate plunges 99.88%.
- Only 20,176 SHIB destroyed after massive weekend burns.
- SHIB price drops 15% as support level faces pressure.
Shiba Inu’s token burn activity has slowed sharply over the past 24 hours, reversing the elevated pace recorded during the weekend. Fresh data shows that daily burn volume has nearly vanished despite increased volatility across the broader crypto market.
According to the Shibburn tracking portal, only 20,176 SHIB were removed from circulation in the last day. Consequently, the daily burn rate declined by 99.88%. The amount destroyed during this period did not reach 100,000 SHIB, marking a steep contrast to earlier activity.
A day earlier, Shibburn registered two significant transfers to unspendable wallets. Anonymous cryptocurrency holders moved 73,527,022 SHIB and 10,335,917 SHIB in separate transactions. Those burns contributed to tens of millions of tokens being permanently removed over the weekend.
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Weekend Burn Surge Fades Quickly
Besides the large transfers recorded on Monday, the past week included other notable burn events. Four days ago, a single transaction eliminated 10,000,000 SHIB from circulation. Five days ago, another transfer destroyed 15,882,343 SHIB. However, weekly totals remained below the largest historical burn phases recorded by the community.
Overall, the SHIB community has burned 410,754,474,679,250 tokens since early 2021. That cumulative reduction followed a major supply event involving SHIB’s anonymous creator, Ryoshi. In May 2021, Ryoshi sent half of the initial quadrillion SHIB supply to Ethereum co founder Vitalik Buterin as a gesture of appreciation, since SHIB was created on the Ethereum blockchain.
Subsequently, Buterin burned nearly all of the tokens he received, significantly reducing the circulating supply. Since then, community members have continued to send smaller batches of SHIB to dead wallets to further decrease available supply.
SHIB Price Extends Weekly Decline
Meanwhile, SHIB’s market price has declined by more than 15% since last Wednesday. The token reached a local high of $0.00000654 before gradually falling to approximately $0.00000552. During this period, SHIB attempted two rebounds but returned to the same level.
At present, the $0.00000552 area acts as a visible support zone after multiple tests. Burn activity and price performance now reflect contrasting momentum compared to the weekend spike. Latest data confirms a near total daily burn slowdown following heavy weekend transfers, while SHIB trades near support after a 15% weekly decline.
Also Read: Top Analyst: XRP Finally Retraces to $1.33 as Predicted – Here’s What Comes Next
