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More than 6 million SHIB were sent to burn addresses within 24 hours, according to data cited from Shibburn, renewing speculation about the memecoin’s deflationary potential. The latest burn activity comes as SHIB maintains strong trading interest on major platforms, particularly in Asia, while the token’s price shows a modest rebound.
In the most recent 24-hour period, exactly 6,079,210 SHIB were transferred to burn addresses, permanently removing the tokens from circulation. The daily burn rate rose by 37.28% during this window.
The figures also underline the scale of the broader destruction campaign pursued by the Shiba Inu community. Shibburn data cited in the article shows:
The weekly burn rate remains down 40.56%, indicating that the pace of token destruction varies across market periods.
Alongside the burn mechanism, the article highlights continued demand for SHIB on certain exchanges. On India’s WazirX platform, SHIB ranked among the most traded cryptocurrencies in April, placing second behind Bitcoin and ahead of assets including Ethereum, Dogecoin, and XRP.
This activity suggests SHIB continues to draw an active user base in emerging markets despite ongoing volatility across the crypto sector.
The article reports a slight rebound in SHIB’s market performance. SHIB increased by approximately 2% over the last 24 hours and by 3% over the week, trading around $0.00000641.
It also links the improvement in sentiment to the latest U.S. employment report, which indicated 115,000 jobs created in April in the United States—an environment that the article says temporarily supported risk appetite for speculative assets, including memecoins.
Despite the large quantities already destroyed, the article cautions that reducing supply does not automatically translate into a sustained rise in SHIB’s price. With a still-considerable remaining supply, the Shiba Inu community continues to frame burning as a central part of its economic narrative, aiming to reinforce token scarcity over the long term and influence investor perception.
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