Shiba Inu Heats Up Amidst Massive 650 Million SHIB Token Burn

• The Shiba Inu (SHIB) community has sustained its token-burning campaign, removing SHIB tokens from circulation to combat inflation.
• A recent significant burn of 650 million SHIB tokens by an anonymous wallet sparked speculation and marked the largest single burn in over a month.
• The identity of the mysterious benefactor behind the burn remains unknown, but their wallet history suggests long-term involvement with SHIB.

Despite a period of relative quiet, the dedicated Shiba Inu (SHIB) community has sustained its token-burning campaign, with periodic contributions helping to bolster the deflationary trend. This ongoing effort involves sending SHIB tokens to a dead or burn wallet, permanently removing them from circulation.

An anonymous wallet address initiated one of the most significant SHIB burn transactions in recent months, a remarkable development. On April 15th, at 1:31 AM (UTC), the burn address received a staggering 650 million Shiba Inu tokens, valued at approximately $13,650 at the time of the transfer.

This colossal burn, the largest single SHIB burn in over a month, surpassed the previous high of 3.8 billion tokens incinerated on March 9th. Until now, sustained community efforts had not witnessed burns of this magnitude.

Mysterious Shiba Inu burner identity remains elusive

While the specific identity of the wallet behind this mammoth burn remains unknown, on-chain data reveals that it belongs to a long-term Shiba Inu investor actively trading SHIB since August 2022.

Although the wallet has a rich history of inflows and outflows involving the meme token, this 650 million burn marks its first burn transaction, leaving it with a remaining balance of 81 million SHIB.

According to the community-driven burn tracker Shibburn, the latest burn has brought the total incinerated SHIB amount to an impressive 410,725,564,269,356 (410.725 trillion) tokens. Consequently, Shiba Inu’s total supply now stands at 589,274,435,730,643 (589.274 trillion) tokens, with 582.8 trillion currently in circulation.

While various community-driven projects have contributed to the burn campaign, recent burns have been primarily fueled by Shibarium, the layer-2 network built on the Ethereum blockchain.

The last Shibarium-powered burn occurred in March, incinerating 13.4 billion tokens on the 9th. Following this, Shibarium-driven burns have surged to a remarkable 56 billion tokens. Although the burn process is currently manual, the development team is actively working on transitioning to an automated burn system.