SHIB Burn Rate Surges 16,717% in 24 Hours Amid Community Poll on Future Strategy

SHIB’s burn rate has experienced an unprecedented surge, rising by 16,717% in 24 hours as over 600 million tokens were burned in a single anonymous transaction. This event, tracked by on-chain data, marks a historic spike in activity for the Shiba Inu (SHIB) ecosystem, significantly reducing its circulating supply. The massive burn was executed via a single wallet transferring 600,701,531 SHIB tokens to an unspendable address, effectively removing them from circulation permanently [1]. The weekly burn rate also saw a 369% increase, with 616,409,987 SHIB tokens destroyed over the past seven days, indicating sustained momentum in supply reduction efforts [1].

The surge coincides with an ongoing community poll led by Shytoshi Kusama, the anonymous figure guiding SHIB’s development. The SHIB-BONE burn poll invites holders to vote on future strategies, determining whether burns should focus on SHIB, BONE, or both, based on price thresholds. Approximately 265,000 BONE tokens have been cast so far, with the leading proposal—favoring 234,264.884 BONE votes—suggesting burns of BONE when its price is $2 or below, and SHIB when BONE exceeds $2 [1]. This approach aims to balance tokenomics dynamically, adapting to market conditions.

The Shibarium layer-2 network plays a critical role in facilitating these burns. Gas fees paid in BONE tokens are accumulated by developers and converted into SHIB for burning once a threshold is met, reinforcing supply reduction efforts [1]. Historically, SHIB has been the primary focus of such burns, but the poll introduces a participatory model where holders influence allocation decisions.

The recent activity underscores the community’s commitment to reducing SHIB’s circulating supply, potentially enhancing token value through deflationary mechanics. The anonymous large-scale burn and active participation in the poll highlight coordinated efforts to align tokenomics with decentralized governance principles. Analysts note that such supply-side adjustments are common in crypto markets but emphasize that the scale and coordination observed here are exceptional [1].

The surge in burns and the poll’s outcomes could shape SHIB’s trajectory, with implications for liquidity, market sentiment, and long-term value. By leveraging Shibarium’s infrastructure and community-driven governance, the project positions itself for continued evolution in a competitive token market.

[1] Source: [1] SHIB Burn Rate Surges Over 16,000% Amid Community Poll on Future SHIB-BONE Token Burns July 29, 2025 (https://en.coinotag.com/shib-burn-rate-surges-over-16000-amid-community-poll-on-future-shib-bone-token-burns/)

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