Shiba Inu’s deflationary engine is running at full speed. On Saturday, April 11, blockchain tracker Shibburn confirmed that 15,509,996 SHIB tokens were permanently removed from circulation within a 24-hour window. The burns were executed across 10 separate transactions. This figure represents a 237% surge compared to the previous day’s burn rate, a sharp jump that has drawn attention from the broader crypto community.
At the time of reporting, the total value of tokens burned amounted to approximately $91, based on SHIB’s prevailing market price.
Burn Rate Surges While Price Holds Steady
SHIB’s trading price registered a modest 0.24% gain over the same period, bringing it to $0.000005904. The price movement remains largely flat. However, market observers note that burn activity and price action do not always move in lockstep, particularly in the short term.
The burn mechanism operates independently of market sentiment. Tokens are sent to dead wallets, rendering them permanently inaccessible. Each transaction reduces the total circulating supply. Over time, consistent burns are designed to create scarcity, which theoretically exerts upward pressure on price as demand remains constant or grows.
The 10 burn transactions recorded on April 11 ranged from batches of thousands to several million SHIB per transaction. The pattern reflects coordinated and community-driven efforts to accelerate supply reduction.
Robinhood Wallet Among Top Burners Over 30-Day Period
Shibburn’s data covering the past 30 days reveals an interesting participant in the burn ecosystem. A wallet linked to Robinhood has ranked among the top 10 SHIB burners over that period. This places the popular retail investment platform alongside dedicated community wallets and project-affiliated addresses in terms of burn contribution.
Robinhood’s presence on the top burner list is notable. It indicates that institutional and brokerage-level participation is playing a role in SHIB’s supply reduction strategy, not just individual holders or project insiders.
Source: https://coinpaper.com/16169/shiba-inu-burns-15-5-million-shib-in-24-hours-what-it-means-for-price
