SHIBA burns engine completely stopped in a day: Not a single token burned, what’s the real problem?
Meme coin Shiba Inu hasn’t seen any burn activity in the last 24 hours, which is a bit strange. Normally, the SHIB burn tracker shows a few tokens burned every day sometimes millions, and sometimes billions.
Shiba Inu remaining supply is now 585.420 trillion, so it’s important for every transaction to be burned.
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Two Sides Of The 100% SHIB Burn Rate Drop
The first batch of Shiba Inu was burned in 2021 by Ethereum founder Vitalik Buterin, when he received Shiba Inu coins from Shytoshi Kusama. SHIB’s mysterious leader initiated auto-burns on Shibarium L2 and also supported community burning initiatives.
While SHIB Army members burn their tokens daily, this did not happen on Monday.
Also, no major swings were seen in the Shiba Inu price on Monday; the price remained mostly stable over the weekend.
Currently at $0.00000619, SHIB is trading above the lower demand zone, but the real challenge is to cross the $0.0000066721 resistance level. SHIB hasn’t crossed this level in the past two weeks due to low buyer interest in major altcoins.
Furthermore, trading activity on Shiba Inu native Shibarium chain is also declining, contributing to the low daily burn. On Shibarium, a portion of Bone ShibaSwap fees is converted into SHIB burns, and several multi-billion burns were achieved in this way in 2024.
Shibarium’s TVL Hike Can’t Ignite The Bonfire
DeFiLlama’s stats are showing another on-chain abnormality. Shibarium’s total value locked increased 17.83% since yesterday to $1.07 million. However, Shiba Inu’s Layer-2 chain collected only $8 in fees, making it impossible to swap BONE fees for burns in SHIB.
After hitting a record $11.22 million TVL in 2024, Shibarium is expected to receive another liquidity boost upon the launch of the next Layer-3 chain. This new Shiba Inu chain was announced a few years ago and has raised $13 million in funding, with sponsors like Animoca Brands and Polygon Labs. Fully Homomorphic Encryption is being used in Nayi chain, which is a next-gen security tool.
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People Also Ask – SHIBA burns:
Why did SHIB burns drop to zero?
According to Shibburn data, 0 SHIBA burns were burned in the last 24 hours, meaning a 100% drop. The reason is simple: transactions on Shibarium are very low, so auto-burns also decreased, and community or manual burns stopped due to the market dip and low hype.
Is this the second zero?
Yes, this is the second time in a week that burns have dropped to zero. Action in recent days was very low, much lower than the previous spikes.
What is the impact on SHIB price?
There is some bearish pressure. SHIB is now trading around $0.000006 (down 1-3% in recent sessions). Zero burns means there is no deflation tailwind, which is increasing sell sentiment.
Are burns permanently eliminated or is it just a short break?
It’s just a break. The burn rate fluctuates widely (from a 500% surge to zero). As transactions increase (DeFi, games, ecosystem growth), burns will return.
