The Shiba Inu ecosystem is seeing an unusual revival in its deflationary trend as billions in SHIB were sent to dead wallets over the past 24 hours
Shiba Inu (SHIB), the dog-themed memecoin, has always enjoyed the support of its community. As the memecoin continues its push for higher price levels, a member of the SHIB community has boldly moved to sustain the rebound journey.
SHIB Investor Burns 3 Billion in March
Shibburn, the community-driven tracker, highlighted that a SHIB investor has incinerated one billion SHIB tokens. In the early hours, the investor transferred a staggering amount of SHIB to a dead wallet.
The transfer came from an individual or group with the blockchain wallet ‘0x55B…182E3’ in a single transaction. At current market value, the SHIB tokens removed from circulation are worth $14,380.
For those unfamiliar with the SHIB ecosystem, incinerating tokens is a deflationary mechanism community members employ to reduce supply. By sending SHIB tokens to dead wallets, they are permanently removed from circulation and help to stabilize prices by creating scarcity.
Interestingly, this is the third major transfer carried out by this wallet. Earlier in the week, the same wallet address torched a similar one billion SHIB.
As per Shibburn tracking, the wallet torched 2 billion SHIB in the space of three days. The total number of tokens wiped out by this address now stands at three billion in March 2025 alone.
At this rate, the community could surpass the over 44 billion SHIB tokens incinerated in 2024.
Market observers consider this development a show of massive support by the wallet holder to the SHIB community. Notably, by reducing the circulating supply, SHIB’s value in the crypto market is unlikely to suffer a sharp decline.
Remarkably, with this latest burn, the wallet address has zero SHIB left, while its crypto balance is approximately $40. This implies that no SHIB burn activity would come from it until it receives funding from another source.
Shiba Inu Burn Rate Skyrockets Over 57,000%
In the meantime, Shibburn places the cumulative SHIB tokens burnt within the last 24 hours at 1,006,913,405. This represents a 57069.02% increase in daily burn activity in the ecosystem.
The figure emphasizes that the owner of the wallet ‘0x55B…182E3’ accounted for the larger portion of burn activity. Other community members managed only 6.913 million SHIB tokens.
The data from the last seven days also shows that the entire SHIB community wiped out 76.496 million tokens in addition to the two billion by the single wallet. This brings the cumulative SHIB incinerated within seven days to 2,076,495,586 SHIB.
While the community continues to torch SHIB tokens to reduce supply and increase value, SHIB’s price has not jumped considerably.
As of this writing, SHIB is changing hands at $0.00001442, representing a loss of 7.13% in the last 24 hours. The memecoin has, however, managed to sustain its support at $0.0000140 despite the decline in trading volume by 10.66% to $395.24 million.
Despite this bearish pressure, holders anticipate SHIB to rebound to $0.000081, as predicted by a top analyst.
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