Shiba Inu burn rate spikes 1468.46% as Shibarium hits 1 billion transactions

• Burns are triggered once 1,000 BONE tokens are collected as gas fees.
• Total burned SHIB now stands at over 410 trillion.
• SHIB dev team shares 10 safety tips to help investors avoid scams.

The Shiba Inu ecosystem has witnessed a dramatic surge in its burn rate, with over 115 million SHIB tokens permanently removed from circulation in just 24 hours.

This sudden spike coincided with Shibarium, the project’s layer-2 blockchain solution, crossing the significant milestone of one billion transactions.

The burn rate jumped 1468.46%, according to blockchain tracker Shibburn , which closely monitors large SHIB transfers to unspendable “dead” wallets.

These token burns reduce supply, an essential strategy in Shiba Inu’s long-term tokenomics and community-driven deflationary model aimed at supporting price stability.

Shibarium milestone drives burns

The spike in SHIB burns is closely linked to the recent performance of Shibarium, which surpassed one billion transactions just hours before the surge.

This layer-2 scaling solution uses BONE, another token in the SHIB ecosystem, to facilitate on-chain transactions.

Once 1,000 BONE tokens are collected in fees, they are converted into SHIB and sent to a dead wallet, effectively reducing circulating supply and adding to the ecosystem’s ongoing deflationary pressure.

In the last 24 hours alone, a total of 115,890,322 SHIB tokens were burned, according to Shibburn data.

The platform reported five transactions, with the two largest burns transferring 92,644,446 SHIB and 20,250,401 SHIB.

These were initiated by separate anonymous wallets, indicating decentralised participation in the burn mechanism by major SHIB holders and community members.

Total burned SHIB tops 410 trillion

Since 2021, the SHIB community has managed to remove a total of 410,747,625,781,618 SHIB tokens from circulation.

Despite this massive reduction, 584,365,723,302,499 tokens are still in supply across exchanges and wallets.

The burn initiative has become central to the SHIB project, designed to create long-term scarcity and, in theory, influence token value positively over time, especially as adoption expands.

The consistent use of gas fees on Shibarium to trigger these burns adds an automated and transparent dimension to the process.

Every transaction on Shibarium not only supports network activity but also contributes to this deflationary effort, with the burns performed on the Shib.io portal through a verified smart contract process designed by the SHIB team.