In January 2024, a significant event occurred for the cryptocurrency Shiba Inu (SHIB) when 9.9 billion SHIB tokens were burned. This event marked an important milestone in the history of the cryptocurrency, especially in the context of token burning strategies. The analytical platform Shiba Inu burn analytics, Shibburn, highlighted the significance of this event by publishing data on the scale of the burning.

According to Shibburn, approximately 10 billion SHIB tokens were burned during January, with the exact figure being 9,937,949,070 tokens. These tokens were sent to inactive wallets associated with the cryptocurrency, effectively removing them from circulation. At the time of the article's publication, SHIB was trading at a price of $0.00000889 per unit, and the total value of the burned tokens amounted to about $88,348.

This event followed a record burning of 36 billion SHIB tokens in December, making January's achievements even more significant. The Shiba Inu community actively advocates for increasing the number of tokens burned and is exploring possibilities for automating Shibarium. The goal of these efforts is to create a token scarcity and enhance their utility, which could contribute to increasing their value and attractiveness to investors.