Recent SHIB Token Burn

In recent hours, the Shiba Inu (SHIB) community experienced a significant event: a single transaction resulted in the burning of 14,372,556 SHIB tokens, permanently removing them from circulation.

Token burning involves purposely sending cryptocurrency tokens to an unspendable address, known as a “dead wallet,” to reduce the overall supply. This strategy aims to create scarcity, potentially increasing the value of the remaining tokens over time.

> 🔥 14,372,556 $SHIB -> transferred to dead wallet. Source
> — Shibburn (@shibburn) March 1, 2025

This recent burn is part of the SHIB community’s efforts to tackle the token’s extensive supply. In February 2025, 389,189,413 SHIB tokens were burned across 134 transactions.

However, some community members express concerns about the pace of token burns, suggesting that more aggressive strategies may be needed to achieve a notable price impact.

In the last 24 hours alone, 17,548,578 SHIB tokens were burned, reflecting a decline of 75.49% within that timeframe. Over the past week, a total of 102,011,340 SHIB tokens were burned, marking a 39.04% decline.

SHIB Price Action

At the time of this writing, SHIB was down 1.78% in the last 24 hours to $0.00001368, following two consecutive days of decline after an earlier rebound in the previous week.

Shiba Inu and other meme coins have recently received positive news, as the SEC issued guidance indicating that meme coins are not classified as securities but rather as collectibles. The Division of Corporation Finance remarked that the offer and sale of meme coins does not equate to an investment in an enterprise or imply a reasonable expectation of gains based on the efforts of others.

A breakthrough above the daily moving averages of 50 and 200 at $0.00001745 and $0.00001926 could signal a bullish recovery, targeting $0.000025 and $0.00003. Conversely, support is projected at $0.0000116 in case of a downturn.