- Over 881 million SHIB tokens have been permanently burned using the ShibTorch platform amid rising ecosystem activity.
- Daily burn rate surged by 3,277.11 percent with 28.6 million SHIB removed in just 24 hours, according to Shibburn data.
- ShibTorch V2 enables users to initiate burns after BONE fee accumulation, enhancing involvement in the Shiba Inu burn model.
The Shiba Inu burn initiative continues gaining momentum with Shibarium Updates reporting that 881,353,310 SHIB tokens have been destroyed through the ShibTorch platform. The announcement highlights a steady rise in community participation and marks a notable increase in SHIB token removal from circulation.
Shibarium Updates detailed recent SHIB burn transactions conducted through ShibTorch. On April 18 at 4:05 a.m. UTC, a total of 16,682,282.98 SHIB were burned. This was followed by a 14,521,134.84 SHIB burn that occurred on April 14 at 10:22 p.m. UTC. These actions contributed to a 5.40 percent weekly change in the token’s burn volume, reflecting growing engagement from Shiba Inu users.
Daily and Weekly Burn Rates Show Sharp Growth
According to burn tracking account Shibburn, the daily SHIB burn rate saw a 3,277.11 percent increase, with 28,627,668 SHIB destroyed in just 24 hours. Over the past seven days, the SHIB community burned 142,626,991 tokens. This marks a 104.28 percent rise in the weekly burn rate, demonstrating significant community-led activity.
ShibTorch V2, introduced in January, has made token burns more accessible to users across the Shiba Inu ecosystem. It builds on the original version launched in August by improving the transaction process and adding enhanced features. Each transaction on the Shibarium network includes a base fee directed to a burn contract.
User-Driven Burns Strengthen Shiba Inu Ecosystem
Once the designated amount of BONE, the network’s gas token, is collected, users can initiate the burn process through ShibTorch V2’s interface. This model has allowed more direct community participation and improved transparency in the ecosystem’s ongoing token burn strategy. The tool has become central to Shiba Inu’s goal of reducing supply and promoting ecosystem sustainability.
