TLDR
- Record-breaking SHIB burn removes 51.76M tokens in single day
- Supply reduction accelerates with 2.44B weekly token burn
- Shibarium adoption reaches new milestone of 2M wallets
- Price holds 16% weekly gains despite 15% daily fluctuation
- Strong holder metrics with 73% concentration in major wallets
The Shiba Inu ecosystem has marked a historic moment in its development with an unprecedented surge in token burns, as newly released data shows a staggering 1000% increase in the rate of SHIB tokens being permanently removed from circulation.
Fresh data from tracking platform Shibburn reveals that 51.76 million SHIB tokens were sent to null addresses within a 24-hour period, marking one of the largest single-day burn events in recent months. This aggressive reduction in supply comes as part of a broader pattern of accelerated token burns.
Weekly statistics paint an even more compelling picture, with total burns reaching 2.44 billion SHIB tokens over the past seven days. These sustained burns have brought the total circulating supply down to 589.25 trillion tokens, representing a substantial reduction from previous supply levels.
The burn activity runs parallel to remarkable growth in network adoption, with the Shibarium layer-2 solution reaching a key milestone of 2 million registered wallet addresses. This achievement comes just 16 months after the network’s initial launch, demonstrating sustained user interest in the ecosystem’s infrastructure.
Market data reveals current SHIB prices holding at $0.00002646, following a 15% intraday price movement. Despite short-term volatility, the token maintains a positive weekly performance with 16% gains, suggesting underlying market strength.
Trading activity shows consistent volume across major exchanges, with price ranges between $0.00002511 and $0.00003141 marking the day’s boundaries. These figures indicate active market participation amid the supply reduction events.
On-chain metrics reveal that large holder concentration remains robust at 73%, pointing to sustained confidence among major token holders. This metric serves as a key indicator of long-term market sentiment during periods of supply adjustment.
The Shibarium network continues to process a steady stream of transactions, with regular activity coinciding with the increased burn events. This dual growth in network usage and supply reduction creates an interesting dynamic in the ecosystem.
Verification data confirms the permanence of these burns, with each transaction recorded immutably on the blockchain. This transparency allows market participants to track and verify the ongoing supply reduction in real-time.
Market makers maintain active order books across trading venues, ensuring liquidity remains available as traders react to the evolving supply dynamics. Trading patterns suggest measured responses to the burn events rather than speculative extremes.
Technical analysis shows price support forming around established ranges, with market participants carefully monitoring burn data for potential supply impact. Chart patterns indicate methodical price discovery as the market processes these changes.
The expansion of Shibarium’s user base continues unabated, with new wallet registrations occurring alongside the burn events. This parallel growth demonstrates the ecosystem’s ability to attract users while managing token supply.
Historical comparisons highlight the exceptional nature of the current burn rate, with the 1000% increase standing out against previous periods. This data provides important context for market participants evaluating supply trends.
Trading metrics across various pairs show balanced market activity, with both buyers and sellers remaining active during this period of supply adjustment. Order flow data indicates natural market movements rather than artificial pressure.
Recent transaction data shows ongoing burn activity continuing, with monitoring tools tracking additional tokens being removed from circulation. These steady burns contribute to the progressive reduction in available supply.
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