Summary
- Shiba Inu burned 124,023,282 SHIB, lifting the daily burn rate 405.21% while reducing circulating supply amid stronger ecosystem activity.
- Weekly burns declined despite stronger daily activity, while WoofSwap V3 remained the largest monthly SHIB burner with billions destroyed permanently.
- SHIB gained modestly as Shibarium transactions climbed nearly 65% and hourly charts formed a golden cross signal supporting momentum recovery.
Shiba Inu removed more than 124 million SHIB from circulation within 24 hours, pushing its daily burn rate above 405%. According to Shibburn, the latest supply reduction coincided with an improvement in Shibarium activity and a modest recovery in SHIB’s market price. The latest figures also arrived as the community marked the project’s sixth anniversary.
According to Shibburn, 124,023,282 SHIB were permanently burned during the past 24 hours, pushing the daily burn rate up 405.21% and reflecting a significant increase in tokens removed from the circulating supply.
However, the broader weekly trend painted a different picture: approximately 2.90 billion SHIB were burned over the last seven days, according to Shibburn, representing a 92.26% decline from the previous week’s burn volume.
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Monthly burn activity remains dominated by major contributors
The monthly data provided additional insight into Shiba Inu’s ongoing deflation efforts, with approximately 3.90 billion SHIB permanently removed from circulation through multiple burn transactions during the past 30 days. WoofSwap V3 remained the largest contributor during that period, sending 3,023,711,746 SHIB to dead wallets and accounting for most of the monthly burn total.
Additionally, Robinhood ranked among the leading contributors to the burn campaign by permanently removing 159,592,109 SHIB through transactions directed to inaccessible wallet addresses. According to Shibburn, the network has now burned 410,843,579,789,609 SHIB through 21,437 transactions, representing 41.08% of the original one quadrillion SHIB supply created at launch.
The burn update also coincided with Shiba Inu’s sixth anniversary, as the project officially launched on August 1, 2020, marking another milestone for the ecosystem and its long-term token reduction strategy.
SHIB posts gains as Shibarium activity improves
SHIB also traded higher alongside the latest burn statistics, changing hands at approximately $0.000004958 with a 2.58% daily gain. Meanwhile, the 50-hour moving average crossed above the 200-hour moving average, forming a golden cross that signaled strengthening short-term momentum.
The bullish crossover followed SHIB’s 40% rally in late July before the token retreated to approximately $0.00000454 on July 29. SHIB later climbed to nearly $0.00000516 on August 1 before easing, yet it still ended July with a 12% monthly gain.
However, the token remained 12.45% lower over the past week despite posting positive monthly performance. Moreover, Shibarium recorded stronger network activity as daily transactions increased from 1,560 to 2,570, according to ShibariumScan.
Conclusion
The latest Shiba Inu burn data highlighted a sharp increase in daily token destruction despite weaker weekly burn totals. At the same time, improving Shibarium activity, a bullish technical crossover, and modest price gains reflected stronger ecosystem participation as the project entered its seventh year.
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