Shiba Inu (SHIB) burn in the memecoin ecosystem just got better with the ShibTorch V2 engine, which fueled recent 1.1 billion SHIB burnt
The Shiba Inu community has set another milestone by permanently removing 1 billion SHIB from circulation. This burn rate has jumped to 7,240% quickly, helping reduce the total supply.
The burn happened alongside the launch of ShibTorch V2, a new and improved system designed to make burning SHIB easier and faster for the community.
What Caused the Shiba Inu Burn?
The latest burn, worth around $18,832.80, was executed by “Shib: Deployer 2” on Ethereum. This marks a significant step in SHIB’s journey toward reducing its supply and increasing scarcity, which could benefit long-term holders.
HOURLY SHIB UPDATE$SHIB Price: $0.00001858 (1hr -0.10% ▼ | 24hr 0.16% ▲ )
Market Cap: $10,947,613,547 (0.22% ▲)
Total Supply: 589,255,703,830,992TOKENS BURNT
Past 24Hrs: 1,104,706,719 (7240.75% ▲)
Past 7 Days: 1,144,849,985 (2506.34% ▲)— Shibburn (@shibburn) January 31, 2025
However, what sets this burn apart is the ShibTorch V2 upgrade.. This new feature introduces a simpler and more effective way for SHIB holders. ShibTorch V2 is more than just another burn. It introduces several improvements that make the burning process more efficient.
Users can now burn SHIB directly through Shib.io with just a few clicks, making it easier for the community to participate. A portion of Shibarium transaction fees will now go toward burning SHIB, which will help reduce the supply automatically.
The system also allows for a faster conversion of BONE, Shibarium’s gas token, into SHIB before burning it. Additionally, burns can now happen across multiple blockchains, allowing more people to participate.
Every transaction on Shibarium collects fees, which go into a burn contract. Once enough BONE has been collected, users can manually trigger a burn event. The system then swaps the gas token for SHIB and sends it to a dead wallet, ensuring those tokens are permanently removed from circulation.
What This Means for SHIB’s Future
These burns aim to make SHIB more valuable by reducing the number of tokens in circulation. With ShibTorch V2 and Shib OS features, SHIB is becoming more than just a memecoin. It is evolving into a serious project with a growing ecosystem.
According to SHIB leadership, this is just the beginning. More burns, upgrades, and a stronger SHIB community are coming.
Shiba Inu price is riding a bullish rally in the broader market. This market retrace came after SHIB whales caused a substantial sell-off in late December. This caused the token to plunge considerably and disappoint investors anticipating a rally.
Fast-forward to 2025, the dog-themed cryptocurrency’s ecosystem witnessed the acquisition of over 102 trillion SHIB at a close price range amid boosted adoption. The digital asset is trading at $0.000019, up by 0.01% in the last 24 hours, as per CoinMarketCap data.
Community members are watching closely to see if these changes increase SHIB’s value. Time will tell, but one thing is clear: SHIB’s burn engine runs at full speed.
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