SHIB’s Skyrocketing Burn Rate: A Tale of Meme Coin Drama 🚀🔥

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Amidst the vast and often bewildering world of cryptocurrencies, the SHIB community has once again managed to outdo itself, disposing of a truly mammoth-sized chunk of the meme coin in the past 24 hours. According to the Shibburn wallet tracker, almost all of this colossal sum was burned in a single, audacious transfer, catapulting the SHIB burn rate to a staggering five-digit high. 🤯

Meanwhile, the price of the second-largest canine-themed cryptocurrency, Shiba Inu, has shown a modest increase of 2.3% since Monday. SHIB has climbed from $0.00001153 to the $0.00001179 price level, a rise that followed a 3.45% dip just prior. It seems the market is as fickle as a puppy chasing its tail. 🐶

1 billion SHIB gone in an instant, burns jump 116,757%

The aforementioned website shared data indicating that over the past 24 hours, the SHIB community has managed to raise the Shiba Inu burn rate by a mind-boggling 116,757%. This monumental achievement was thanks to a staggering 1,007,280,237 SHIB being removed from the circulating supply. Nearly all of this—1,000,000,000 SHIB—was transferred to an unspendable wallet in a single, anonymous move made by a crypto whale approximately twelve hours ago. This was the largest single transaction to date, a feat that would make even the most seasoned investor raise an eyebrow. 🧐

Burn is a deflationary mechanism integrated within the SHIB network, designed to gradually reduce the meme coin’s circulating supply. The theory is that as the supply diminishes, the coin’s value could surge, making it a tantalizing prospect for those who believe in the long-term potential of SHIB. 📈

Second billion SHIB destroyed recently

As reported by U.Today, last week, the SHIB-affiliated X account “Shibarium/BONE updates” (@Shibizens) announced a massive burn that removed a similar chunk of SHIB from circulation. An astounding 1,338,380,740 SHIB was taken out of circulation and locked in dead-end wallets. This 1.3 billion coins were burned through the community burn portal ShibTorch, linked to the Shibarium network. The process involves collecting gas fees (paid in BONE), which are then converted to SHIB and transferred to these dead-end wallets. 🗑️

There’s no “next SHIB,” team warns

SHIB’s top executive, known as Lucie, recently commented on the meme coin’s price drop, offering a wry observation: “Just because it’s on the floor doesn’t mean it has no value — it means someone dropped it. Be smart.” She also warned that many projects have claimed to be the “next SHIB” in 2020, 2021, and 2022, but they are now all but forgotten. 🕊️

Just because it’s on the floor doesn’t mean it has no value — it means someone dropped it. Be smart.

The flood of ‘next Shiba’ projects already came in 2020, 2021, and 2022 — but they’re all dead now.

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 6, 2025

Her words serve as a reminder that in the world of cryptocurrencies, the only constant is change, and the only surefire way to navigate this tumultuous sea is with a healthy dose of skepticism and a keen eye for value. 🌊

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2025-07-08 11:25