The Shiba Inu community remains active in burning meme coins to decrease supply. Recent efforts led to a 3,484.34% surge in the SHIB burn rate, with over 537 million SHIB removed from circulation in the past 24 hours. This contributed to a 5% recovery in SHIB price. Meanwhile, SHIB lead developer Shytoshi Kusama plans to unveil a new AI whitepaper and cautioned against scammers in a message to the community.
Half billion SHIB gets burned
An on-chain data source reported that the daily SHIB burn rate increased dramatically, thanks to 537,187,730 SHIB transferred to dead wallets. The transfers were made from an anonymous wallet, with the largest being 310,744,788 SHIB.
> HOURLY SHIB UPDATE
> $SHIB Price: $0.00001213 (1hr -0.13% ▼ | 24hr 3.06% ▲ )
> Market Cap: $7,146,725,729 (3.03% ▲)
> Total Supply: 589,250,449,904,272
>
> TOKENS BURNT
> Past 24Hrs: 537,187,730 (3484.34% ▲)
> Past 7 Days: 687,249,104 (481.17% ▲)
> — Shibburn (@shibburn) June 14, 2025
The community has reported a weekly burn rate increase of 481.17% after destroying 687,249,104 SHIB.
Shytoshi Kusama fires back at scammers
On Friday, SHIB lead developer Shytoshi Kusama addressed the community in a Telegram message and revealed plans for a new SHIB AI whitepaper. He emphasized the need to ignore scammers and expressed commitment to moving developments forward. This message followed the release of an update for Shibarium called Shiba Alpha Layer, and occurred after a two-week hiatus from social media activity.
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