Shiba Inu (SHIB ($0.00)) has experienced a massive increase in its burn rate, which surged by an impressive 7,240.75%. According to data from Shibburn, over 1.1 billion SHIB tokens (1,104,706,719) were removed from circulation in the past 24 hours alone.
ShibTorch V2 Drives Burn Efficiency
This significant burn aligns with the launch of ShibTorch V2, as reported by Shibarium Updates on X (formerly Twitter). ShibTorch V2 aims to enhance the burn process through active community participation. Its mechanism enables users to contribute more effectively to reducing SHIB’s overall token supply.
1 Billion SHIB Burned as ShibTorch V2 Goes Live
1 billion SHIB has been permanently removed from circulation, marking another step in Shib’s deflationary strategy. This burn aligns with the launch of ShibTorch V2, an upgraded burning system designed for greater efficiency,… pic.twitter.com/PGMgTT1euF
— Shibarium Updates 
(@Shibizens) January 30, 2025
The operation, which burned over one billion SHIB tokens, was conducted through “Shib: Deployer 2” on Ethereum. This rollout highlights the community’s commitment to driving Shiba Inu’s deflationary model forward.
Faster Burns Propel SHIB Toward Decentralization
The deflationary strategy seeks to accelerate SHIB’s path to becoming a fully decentralized ecosystem. Every transaction within Shibarium contributes to reducing the token supply. Shibarium’s structure allows transactions to generate BONE fees, which accumulate in burn contracts. Once a user collects enough BONE, they can convert it to SHIB and send it to a dead wallet, permanently removing it from circulation.
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This approach ensures a steady reduction in SHIB’s total supply, potentially increasing scarcity and boosting its value over time.
SHIB’s Current Market Performance
Despite the surge in the burn rate, SHIB’s price remains relatively stable. As of now, SHIB trades at $0.00001863, reflecting a 0.45% increase over the last 24 hours. However, trading volume has dropped by 31.80%, reaching $226.97 million, indicating cautious investor sentiment.
Source: CoinMarketCap
Following the ShibTorch V2 launch, SHIB’s total supply now stands at 584,256,315,410,801 tokens, with the same amount available in circulating supply.
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Although the burn activity demonstrates progress, significant efforts lie ahead to achieve Shiba Inu’s vision of long-term growth and sustainability.
This development underscores the ecosystem’s focus on innovation and its dedication to enhancing SHIB’s value through community-driven deflationary strategies.
The post Shiba Inu Burn Update: Token Scarcity Could Drive Future Value appeared first on FXcrypto News.
