Shiba Inu Just Set Fire to the Internet: You Won’t Believe the Burn!

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The indefatigable denizens of the SHIB community are once again at it—waging war on the ever-bloated supply of Shiba Inu coins with the sort of gusto generally reserved for Aunt Agatha at a bake sale. Meme coins? Zapped. Vaporized. Sent, if you will, to the great unspendable beyond.

Today, fueled either by pure civic-mindedness or perhaps just the aftereffects of a strong cup of tea, the SHIB burn rate has shot skyward like a butler who’s just spotted a spider, leaping a rather tidy 6,858.37% (one can only assume the decimal points were added for dramatic effect). The hapless victim count: a robust 18,902,967 SHIB, bravely sacrificed for the communal good.

SHIB Burns: Four Digits and a Whole Lot of Fire 🔥

According to the boffins over at Shibburn (who presumably wear lab coats patterned with little dog pawprints), in the last 24 hours, SHIB balances have been positively evaporating. In a particularly swashbuckling move, two burns today carried off the lion’s—or should I say, Shiba’s—share: 17,823,884 and 1,070,924 SHIB, banished forever to the Shadow Realm (also known as “unspendable wallets” for the literalists among us).

How’s the weekly haul? Well, let’s just say it’s as underwhelming as a wet British summer: a minus 89.3% change, with a mere 55,017,003 SHIB getting the golden ticket to oblivion. Stiff upper lip, SHIB holders.

For those who enjoy a spot of fintech wizardry: a fair chunk of these burns are orchestrated by the SHIB team themselves via an automated burn portal that nabs 30% of the gas fees on the Shibarium network. These start life in BONE (don’t ask), get toggled into SHIB, and then poof—disappear faster than Bertie Wooster at the sight of responsibility. Current daily transactions on Shibarium have taken a bit of a lie-down at 4.26 million, which may explain why things are a trifle sluggish on the weekly burns front.

SHIB Market Capers 🐾

Since Friday, our hero SHIB—a plucky pup among meme coins—has scampered up a delightful 8% or so, most of it occurring today in a burst of activity not seen since Jeeves last restocked the gin cabinet. It’s currently perched at $0.00001581, wagging its metaphorical tail, while Bitcoin’s gone bounding over the $103,000 hurdle for the first time since January, giving all the other coins an excuse to frolic upwards in its wake.

Over at Santiment, the analytics crowd is reporting a whiff of bullishness in the air, with meme coins, liquid staking assets, and Layer-1 coins all joining the great weekend rally. Whether this means riches or ruin is anyone’s guess, but one thing’s certain: there’s never a dull moment in the world of SHIB. Toodle-oo! 🚀

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2025-05-10 23:23