Shiba Inu (SHIB) has witnessed a dramatic spike in its weekly burn rate, with over 1 billion tokens permanently removed from circulation. According to data from on-chain tracker Shibburn, 1,053,508,245 SHIB were burned within the last seven days, boosting the burn rate by 1,783 percent.
This surge was mainly driven by a single transfer of 1 billion SHIB tokens to an unspendable wallet address. The single transaction itself made up the bulk of that week’s total burn, followed by another 16 million and 10 million burn transactions. On the other hand, the daily activity of burns was in a very sharp decline, with the destruction of SHIB by 1.27 million more only over the last 24 hours, which is a 72.71 percent decline compared with the previous day.
Although growth has temporarily slowed down, the overwhelming growth over the last week has once again put the spotlight on SHIB’s burn strategy and general tokenomics. These burning mechanisms represent a fundamental element in the project’s scheme to minimize supply and, perhaps, eventually add support to price in the long run.
SHIB Team Issues Strong Warning on Unofficial Token Promotions
Alongside the surge in burn activity, the Shiba Inu leadership has been clear on its position about the recent increase of unrelated tokens trying to associate themselves with the SHIB ecosystem. Lucie, one of the central personnel of the SHIB marketing team, has released the message posted to her official X account to explain the project’s status.
Lucie claimed that the SHIB team does not approve or recommend what she called random s-coins. She emphasized that those partners are thoroughly checked, and the tokens linked to the ecosystem, like SHIB and BONE, can only be promoted. In her message, she did not insinuate that the team introduces fresh projects on a weekly basis.
She further explained that when support is granted, it is shared across all of SHIB’s verified platforms, including the official website, Discord, Telegram, and other developer-managed channels, not just through isolated social media posts. Lucie also expressed frustration over the rising volume of meme tokens expecting SHIB’s endorsement, saying, “We can’t keep up anymore.”
The quotation shows an attempt to preserve the project’s image and prevent a false image of associated assets that have not been checked. It is also a sign of the increased peril to existing cryptocurrency initiatives to reject the explicitly illegitimate minting of tokens.
Conclusion
Increased SHIB burns, accompanied by the team’s announcement about promoting their tokens, are a sign of the new emphasis on core values and transparency. With the ecosystem’s evolution still underway, it seems that the team is willing to maintain its integrity as it addresses the community’s expectations.
