Shiba Inu Burn Rate Catapults 3,500% as Whales Scoop Up SHIB

Shiba Inu community keeps the fire blazing with a 3500% SHIB Burn increase on 4/20.

Shiba Inu dog is flying on a big fish which is diffusing fire from its mouth.
  • Shibarium’s puppynet has reached nearly 14 million registered wallets.
  • The nine million Shiba Inu tokens burned accelerated SHIB’s burn rate by 3,500%.
  • Shiba Inu flopped 2.2% in the last 24 hours, and Shibarium’s gas token dropped 5%.

Shiba Inu’s community greets international cannabis culture with a massive burn of SHIB tokens. According to Shibburn, the official Shiba Inu burn tracker, nine million tokens were set ablaze in the last 24 hours.

While the 3,500% increase symbolizes the community’s exponential growth, it should be noted that nine million tokens are a drop in the ocean from last week’s 1,803,050,196 $SHIB sent to the bottomless pit.

Whales Scoop Shiba Inu in Memecoin Frenzy

While the recent memecoin zeal involves some unusual newcomers in PEPE and KERMIT, the TOP 100 Ethereum whales haven’t forgotten about Shiba Inu. According to the Ethereum whale tracker WhaleStats, SHIB is still in the most prominent token position by dollar value in the memecoin world.


According to the latest tendencies in crypto exchanges, Shiba Inu is trending together with small market cap memecoins, as its new metaverse socials resulted in many crypto enthusiasts joining the community.

On the other hand, Shibarium’s gas fee token, Bone ShibaSwap (BONE), took a bigger hit than the main token. While SHIB slipped just 2.2% in the last 24 hours, $BONE dropped below a long-term support line at $1. At press time, Shibarium’s gas fee and governance token Bone ShibaSwap (BONE) is priced at $0.952504, dropping by 5%.

While the daily charts for BONE aren’t looking bullish, the monthly perspective indicates a 21% loss in value. Finally, the on-chain signals show a 3:1 bearish versus bullish ratio, especially evident in the declining number of Large Transactions.


The next updates on Shibarium and SHIB: The Metaverse might be crucial to determine if the current metrics will be enough to enter bullish divergence.

On the Flipside

  • Shibarium’s testnet ‘puppynet’ blockchain scanner ‘puppyscan’ experiences a lot of downtime.
  • This causes a delay in statistics and makes it difficult to evaluate Shibarium’s testnet in real time.

Why You Should Care

Memecoins are often seen as the largest onboarding tool for blockchain technology.


Has the SHIB burn rate increased?

The SHIB Burn rate is calculated daily by the Shibburn portal. As of writing, the SHIB burn rate has increased by 195.28%.

How much SHIB is burned every day?

Usually, there are tens of millions of SHIB tokens burned every day.

How many Shiba Inu holders are there?

According to the latest data, there are 1,292,069 Shiba Inu holders.

What is the largest Shiba Inu trade?

One anonymous crypto enthusiast bought $8,000 in SHIB tokens in August 2020. This investment was worth $5.7 billion a year later and is considered the greatest SHIB trade ever.

Delve into DailyCoin’s latest crypto news:

DOGE Day Rally: Elon Musk Readies Starship for 4/20 Takeoff

Coinsbee Lets Users Shop at Macy’s with Bitcoin, Litecoin

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.