The burn rate for Shiba Inu (SHIB) has skyrocketed, recording a staggering 14,575% increase in the past day. According to data from the Shibburn tracking platform, a huge surge in SHIB burning activity pushed the burn rate from low levels into what is being termed the “greed zone.” This dramatic rise coincided with a significant 5% increase in SHIB’s market price. As of the time of writing, SHIB is trading at $0.00001806, up from $0.0000171, showing strong momentum.
Burn Transactions Boost Supply Reduction
The surge in the burn rate stems from a large burn of 279,650,585 SHIB tokens, which were removed from circulation and placed in unspendable blockchain wallets.
This decrease in circulating supply is a key factor in pushing the burn rate higher. So far today, five separate burn transactions have been carried out.
Source: Shibburn
The largest of these involved a transfer of 277,587,419 SHIB, while the second largest, though considerably smaller, burned 2,000,000 SHIB tokens. These burns play a crucial role in reducing supply and potentially driving the token’s value upward.
Shiba Inu Lead Addresses Critics and FUD Spreaders
Lucie, the lead figure in the Shiba Inu ecosystem, recently addressed the cryptocurrency community about the growing trend of spreading FUD (fear, uncertainty, and doubt). In a post on X (formerly Twitter), she commented on those who attempt to undermine confidence in the Shiba Inu project, including its core tokens—SHIB, BONE, and LEASH—as well as the Shibarium layer-2 solution.
Lucie suggested that these so-called “fudders” actually have utility by increasing social engagement. Whenever critics discuss SHIB or related assets, it generates more conversations and activity around the tokens, indirectly benefiting the ecosystem. She also observed that “famous shillers” promote hype for meme coins, often pushing them toward lofty goals like reaching a $100 billion market cap. However, she argued that these tactics are unsustainable, as they jump from one project to the next without building a lasting brand.
Focus on Building a Solid Reputation
Lucie emphasized the importance of establishing a strong, trustworthy brand in the crypto space. Retail investors, she noted, tend to steer clear of risky bets and prefer assets with proven legitimacy.
While the fun associated with meme coins attracts them, investors ultimately prioritize security and reliability. This, Lucie believes, will enable long-term success for SHIB, even as other projects fall away.
