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

It has mirrored the recent SHIB market behavior, which has also taken the second largest meme-inspired cryptocurrency into the red zone on the charts.

SHIB burns deep in red

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

HOT Stories Doge Meme Appears in US Senate: ‘Doge Inevitable’; Dogecoin Founder Reacts Gensler Slams Crypto Ahead of His Exit 69,000 BTC Could Be Sold by U.S. Government Bitcoin's (BTC) Goodbye to $100,000, Shiba Inu (SHIB) Approaches Last Support, XRP Stronger Than Everyone Else

However, the burn rate metric watched by many within the SHIB community has plunged by more than 72%, putting the burn rate deep in the red zone.

Still, 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. The burn metric here has soared by 164.53%.

The year 2025 has just begun with low daily burn rates, mostly. Several times over the past nine days, the SHIB burn rate has spiked by roughly 1,000% and 2,000%, according to Shibburn data.

The SHIB price has plummeted by 3.35%. This week, SHIB’s total consecutive decline has constituted 13%.

Related
Wed, 01/08/2025 - 10:11 BNB Adopted As Strategic Reserve Asset in This Country: Ex-Binance CZ
Yuri Molchan

SHIB lead Kusama responds to former Binance CEO CZ

The mysterious SHIB lead developer known to the community under the pseudonym Shytoshi Kusama has cited a recent X post by Changpeng Zhao (CZ), cofounder and former Binance boss, responding to him.

While CZ, an acknowledged crypto influencer and billionaire, stated that it is important to consider the community’s needs and “build what people need, not what you think they need,” Kusama believes that it is much 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

— Shytoshi Kusama™ (@ShytoshiKusama) January 8, 2025

Shytoshi believes that people’s current needs are always in flux, and "things may shift." Adoption, which was mentioned by CZ as “the only key metric that matters,” naturally comes to shift the narrative toward what teams have built already, in Kusama's view.

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

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。