Shiba Inu Token Burn Rate Surges 3,484% in 24 Hours

The Shiba Inu token burn rate experienced a significant surge, increasing by 3,484% within a 24-hour period. This dramatic rise resulted in the removal of 537,187,730 SHIB tokens from circulation. The bulk of this burn was executed through five major transactions, with a single wallet responsible for three of the largest burns. This wallet removed over 521 million tokens in a matter of minutes, with transactions of 310,744,788 SHIB, 107,333,061 SHIB, and 103,276,575 SHIB. These actions reflect a concerted effort to reduce the supply and potentially increase the token's value.

The spike in daily burn activity followed a week of heightened community action. Over the past seven days, the SHIB community destroyed 687,249,104 tokens, marking a 481% increase from the previous week. The majority of these burns occurred during Friday’s session, indicating a sustained effort by the community to reduce the token supply.

Lead developer Shytoshi Kusama reappeared after a two-week break to address the SHIB community. In a Telegram message later reposted by the SHIB marketing lead, Kusama confirmed that plans are moving forward for the release of the SHIB AI whitepaper. This development is part of the ongoing efforts to enhance the Shiba Inu ecosystem and introduce new technological advancements.

In addition to sharing development updates, Kusama warned users about ongoing scam attempts. He emphasized that fraudsters would not impact the core development of the project, reinforcing the team’s commitment to security. This warning comes amid technical developments on the Shiba Inu ecosystem, including the implementation of the Shiba Alpha Layer. This new Layer 3 solution for the Shibarium network aims to diversify the platform's capabilities and facilitate long-term token stability.