SHIB Ignites: Massive 657% Burn Vaporizes 15 Million Tokens!
Shiba Inu's daily burn rate surged by 657%, with 15.16 million SHIB tokens removed from circulation in 24 hours. This coincided with a positive price movement for SHIB as the broader crypto market rebounded despite earlier pressures from hawkish Federal Reserve comments and rising inflation expectations.
The Shiba Inu (SHIB) ecosystem has recently witnessed a significant surge in its daily token burn rate, recording an impressive 657% increase. This notable uptick resulted from millions of SHIB tokens being transferred to dead wallets, effectively removing them from circulation. In the last 24 hours alone, approximately 15.16 million SHIB tokens were burned, marking a substantial deviation from the flattened burn activity observed at the beginning of the week.
Specific burn transactions highlight this recent acceleration. Within the past hour, a single transaction accounted for the burning of 3,887,908 SHIB tokens. This follows earlier figures from September 2026, where burn activity was considerably lower: on September 24, 2026, only 227,777 SHIB were burned, which then slightly increased to 2,184,538 SHIB on September 25. The cumulative 15.16 million SHIB burn figure for the last 24 hours was bolstered by several transactions, including another single burn of 1,080,682 SHIB tokens reported by Shibburn and a massive 10,007,239 SHIB sent to dead wallets in one transaction.
Looking at broader timeframes, the burn activity remains robust. Over the past seven days, a total of 99.16 million SHIB was burned. Extending to the last 30 days, 383.92 million SHIB tokens were removed from supply, with Coinbase identified as the largest SHIB burner during this period. To date, a staggering 410,844,369,470,023 SHIB has been burned, which constitutes 41.08% of Shiba Inu's initial supply of one quadrillion tokens.
Alongside the burning efforts, SHIB's price action also showed a positive movement. At the time of writing, SHIB was up 1.81% in the last 24 hours, trading at $0.000005945. This recovery is set against the backdrop of a broader crypto market rebound. Earlier in the week, the market experienced a selloff attributed to hawkish commentary from the Federal Reserve and stronger-than-expected economic data. Federal Reserve Governor Michael Barr's speech indicated that "further policy adjustments" might be necessary to bring inflation down to target, prompting investors to adjust their expectations regarding a potential rate hike in October.
Further impacting market sentiment, the University of Michigan's consumer sentiment index for September revealed that year-ahead inflation expectations leapt to 4.6%, up from 4% in August and marking the highest reading since June. Despite these market pressures, Shiba Inu demonstrated resilience, recovering from a low of $0.00000554 reached during Wednesday's selloff to hit $0.00000602 by early Saturday, marking two consecutive days of price increases.