SHIB Burn Rate Pulls a Classic Crypto Pump-Dump (Just Not on Price)

The Shiba Inu burn rate has dropped drastically from March's peak, because apparently even the most diehard $SHIB degenerates need to take a breath sometimes. The rate at which tokens are being yeeted into the void has slowed to a crawl. Data fetched from a community-driven Shiba burn tracker shows a jaw-dropping 98% reduction in burn rates from the highest levels seen in March. Somewhere, a whale is dramatically checking their portfolio and sighing.

Key Points

• Shiba Inu burn rates have dropped by 98% from March's peak of 54.69 million to 940,326 on March 31.
• Generally, March saw a lower total token burn than February.
• The tracker website notes that it would take 331,285 years at March's burn rate to destroy 90% of Shiba Inu's supply.
• The burn rate has spiked today, increasing 578% in the past 24 hours.
• So far, a total of 410.49 trillion Shiba Inu tokens have been burned since inception.
• Amid inconsistencies in Shiba Inu burning, tokens are flooding exchanges.

Shiba Inu Burn Rate Slows

The peak for last month was on March 15, when the community burned a total of 54,693,900 $SHIB tokens. However, by March 31, burns had dropped to 940,326 $SHIB, a clear indication that enthusiasm has receded significantly. The vibes, as the kids say, are different now.

Generally, March saw a lower total token burn than the prior month. It concluded yesterday, and 133,456,071 tokens were incinerated over 156 transactions. In contrast, the community burned 160,123,152 $SHIB in February over 85 transactions, representing a 16.6% drop. That's less burn action than a quiet Tuesday in a sleepy suburban neighborhood.

Besides the March 15 spike, there were also notable burn days. On March 11, the community transferred 6.85 million $SHIB tokens to the burn address. On March 22, the number grew higher to 9.13 billion tokens, and on March 25, enthusiasts destroyed 15.9 million tokens. Some days you just feel like burning millions. We get it.

However, by the end of the month, burn rates dropped considerably, reaching as low as 98% from their peak day. This has raised the question of whether the burns are really sustainable and would have the impact on price that proponents desire. The tracker website noted that it would take 331,285 years at March's burn rate to destroy 90% of Shiba Inu's supply. To put that in perspective, that's longer than most rug pulls last. Actually, wait—no it's not. It's way longer than that.

There's a Catch

Nonetheless, April has started strong. The burn rate has spiked today, increasing 578% in the past 24 hours, with 6,380,370 tokens burned so far. Further analysis shows that these burns occurred over five different transactions, with one wallet sending 5,032,628 $SHIB to the dead wallet. Another address burned 1 million tokens, with others involving smaller amounts of the meme coin. This start is fueling optimism that the community will outdo its performance in March. The burn gang is back, baby.

So far, a total of 410.49 trillion Shiba Inu tokens have been burned since inception, accounting for 41% of the total 999.9 trillion $SHIB created