SHIB Community Keeps Burning Meme Coins: SHIB Burn Rate Plunges by 72% Amid Market Dip

The SHIB community continues to actively remove meme coins from the circulating Shiba Inu supply. According to the data recently shared by the Shibburn tracking platform, the SHIB burn rate has plunged heavily in the last 24 hours.

The SHIB community continues to relentlessly remove meme coins from the circulating Shiba Inu supply. According to recent data from the Shibburn tracking platform, the SHIB burn rate has nosedived over the past 24 hours.

This mirrors the recent market performance of SHIB, which has also pushed the second-largest meme-inspired cryptocurrency into the red on the charts.

Burnt SHIB amounts to 8,738,201 in last 24 hours

A recent update on the Shibburn website shows that, as of last morning, another multi-million meme coin lump has been removed from circulation and locked away in unspendable blockchain addresses thanks to the regular efforts of the SHIB community. In total, 8,738,201 SHIB have been burned.

However, the burn rate metric, which is closely monitored by many within the SHIB community, has dropped by more than 72%, putting the burn rate deep into the red zone.

Nevertheless, things look much better on the weekly burn rate time frame, with a total of 102,867,453 SHIB sent to dead-end wallets over the past seven days. Here, the burn metric has soared by 164.53%.

2025 has started with low daily burn rates so far. According to Shibburn data, the SHIB burn rate has spiked several times over the past nine days, reaching 1,000% and 2,000%.

Meanwhile, the price of SHIB has dropped by 3.35%. This week, SHIB’s total consecutive decline has reached 13%.

SHIB lead Kusama responds to ex-Binance CEO CZ

The mysterious SHIB lead developer, known to the community under the pseudonym Shytoshi Kusama, has quoted a recent X post by Changpeng Zhao (CZ), co-founder and former head of Binance, in response to him.

While CZ, a renowned crypto influencer and billionaire, stated that it is crucial to follow the community’s needs and “build what people need, not what you think they need,” Kusama feels that it is more important to “build what people need before they know they need it.”

Actually, CZ, build what people need before they know they need it. Otherwise, you will be building while there is a need and things may shift. Adoption comes naturally as the narrative shifts to what you've already built. And, luckily, this is exactly what we have done. WATCH. https://t.co/92Oi4zIwfX

Kusama believes that people’s current needs might change and then “things may shift.” Adoption, which was mentioned by CZ as “the only key metric that matters,” according to Kusama, naturally comes to shift the narratives toward what teams have already built.

“Luckily, this is exactly what we have done,” Shytoshi added, inviting CZ to watch what is happening to SHIB and Shibarium.