Shiba Inu Burns 521 Million Tokens in a Day: Can This Change SHIB Price Direction?

Updated

June 16, 2025

Gambar Shiba Inu Burns 521 Million Tokens in a Day: Can This Change SHIB Price Direction?

Jakarta, Pintu News – In the past 24 hours, the Shiba Inu community has once again demonstrated remarkable collective action by burning more than 521 million tokens, increasing the burn rate by 3,194%. This spike has been one of the highest in recent months, although it has yet to have a direct impact on the token price which remains stagnant.

Nevertheless, this event emphasizes the community’s efforts to suppress supply and redirect price dynamics in the cryptocurrency market. With SHIB still struggling within a narrow price range, the question arises: is this burn spike significant enough to change the direction of the trend?

Dominance of Big Deals in SHIB Burning Action

According to data from the Shibburn.com tracker, most of the SHIB burn volume came from several large transactions by certain wallets. One wallet, prefixed with the address “0xdb6,” accounted for over 500 million SHIBs, with three consecutive large transactions of 310 million, 107 million, and 103 million tokens respectively. The entire transaction was sent to a fixed burn address (BA-1), ensuring the tokens were permanently removed from circulation.

Other wallets such as “0x28be” and “0x6176” also participated, albeit with smaller contributions, and spread the burn to several other burn addresses. While the volume from these wallets was not on par with the main transaction, the accumulation pushed the total daily burn past the 521 million SHIB mark. This action indicates a community effort to increase the long-term value of SHIB through supply reduction.

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Supply Reality: Is Burn Effective Amidst the Circulation of 589 Trillion Tokens?

While 521 million SHIBs may seem like a lot in one day, it is still very small compared to the total supply of SHIBs in circulation, which is over 589 trillion tokens. This shows that despite the aggressive burn, the impact on the SHIB tokenomic structure has not been significant. The main challenge is the massive volume of supply, which continues to suppress the long-term price growth potential.

Even so, high burn rates still have a positive psychological effect on the crypto community. Actions like this encourage optimistic sentiment and can be a catalyst for higher price volatility, if followed by follow-up actions or big news from the project. Some community members even refer to this as an “early signal” of a potential price spike to come.

Price is Still Sideways: Positive Sentiment Not Fully Realized

As of the date of writing, Shiba Inu is trading at around US$0.00001192 or around Rp0.000194 (with conversion of US$1 = Rp16,273), down 1.7% in the last 24 hours. SHIB price is currently consolidating in a narrow range between US$0.00001190 to US$0.00001225, signaling a lack of strong impetus from the buyers’ side. Despite the soaring burn rate, the market has yet to respond significantly.

However, speculation lives on. A community member hinted that Shiba Inu’s lead developer, Shytoshi Kusama, still has an “ace up his sleeve” yet to be revealed. If new plans such as Shibarium updates or strategic collaborations are announced, then SHIB’s price could get a more tangible boost.

Conclusion

While the burn of 521 million SHIB tokens demonstrates the community’s commitment to strengthening the token’s value, the fundamental challenge of a large supply still casts a shadow over the price outlook. While the burn gives hope, the price remains dependent on broader market dynamics as well as subsequent project initiatives. For cryptocurrency investors and observers, it is important to monitor a combination of technicals, community sentiment, and official project developments before concluding on SHIB’s future price direction.

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