The Shiba Inu community has triggered an extraordinary surge in the SHIB burn rate, driving it up by 49,552% in just 24 hours. According to the blockchain data aggregator Shibburn, millions of SHIB tokens have been permanently removed from circulation. Despite this deflationary move, SHIB’s price initially surged nearly 10% before retracing.
SHIB Burns Soar 49,552%
Over the past 24 hours, Shiba Inu enthusiasts have significantly increased the daily burn rate, according to Shibburn. The total number of SHIB burned during this period reached 13,290,880 tokens, further contributing to the token’s long-term deflationary model.
On Friday, Shibburn reported an even more dramatic surge when the burn rate skyrocketed by 27,660%. That day, the SHIB community collectively burned over half a billion tokens—503,305,764 SHIB. An anonymous cryptocurrency whale executed a massive transaction, sending 459,294,504 SHIB to a dead wallet in a single transfer.
The SHIB development team has previously conducted such large-scale burns. However, no official confirmation has surfaced on social media or on-chain data sources to verify whether the SHIB team initiated this burn.
SHIB Leader Shytoshi Kusama Remains Silent
Shytoshi Kusama, the enigmatic leader of the SHIB project, has remained silent on X (formerly Twitter) for the past three weeks. Since his last post on February 21, Kusama has only made a few retweets. His activity completely ceased on March 7, leaving the SHIB community speculating about his whereabouts.
Last year, even during his social media absences, the community could track his movements through geolocation updates on his X profile. However, this time, Kusama has vanished without a trace, fueling curiosity and concern among SHIB supporters.
Related article: Shiba Inu (SHIB) Drops 25.3% as Open Interest and Whale Activity Decline—Reversal Ahead?
Meanwhile, Lucie, SHIB’s head of marketing, defended Kusama’s absence. She stated that he is doing “exactly what he announced he would,” implying that he is focused on raising awareness about Shiba Inu for investors and expanding the global SHIB community. Last year, Kusama revealed he had secured $12 million to develop a layer-3 solution for Shibarium.
As SHIB’s burn rate accelerates and Kusama remains absent, the Shiba Inu ecosystem continues to attract attention. Investors and community members are closely watching for the next major development that could impact SHIB’s price and future growth.
