On June 16, 2025, the Shiba Inu community successfully burned over 500 million SHIB tokens, resulting in a remarkable 3,500% increase in the burn rate.
Increase in SHIB Burn Rate
The burn rate of SHIB tokens soared to 3,500% due to the community's actions. Significant figures contributing to this included large holders and automated mechanisms. "The primary driver behind the recent SHIB burn is the Shiba Inu community, with significant participation from large holders and automated burn mechanisms." CITE_W_A
Market Response to the Burn
The price of SHIB rose approximately 4% within 24 hours, showcasing community influence on the market. However, despite the increased burn rate, transaction volumes from whales saw a sharp decline, with a 65% drop in large-scale transactions.
Speculative Interest and Future of SHIB
The burn coincided with a 4% rise in futures open interest for SHIB, indicating higher speculative activity. Core developers have yet to issue statements, and there has been no major institutional involvement documented.
Recent developments around the SHIB token burn illustrate how community efforts can influence market dynamics, though lasting impacts are often tied to broader market trends.
