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Shiba Inu
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Shiba Inu Integration With Chainlink Introduces A New Way To Burn SHIB

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Shiba Inu (SHIB) has taken a significant step toward strengthening its ecosystem through its integration with Chainlink (LINK). The update introduces a new way to burn SHIB directly on Ethereum with every cross-chain transaction. This ensures that the cryptocurrency remains true to its ETH-native roots while expanding its presence across various blockchains. 

Chainlink CCIP Introduces New SHIB Burn Method 

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is now part of the Shiba Inu ecosystem, marking a major move to boost its connectivity and expand utility across multiple networks. This integration not only reinforces SHIB’s position as an Ethereum-native asset but also creates an entirely new mechanism for burning tokens across multiple chains. 

Shiba Inu developer Kaal Dhairya emphasized in an X social media post on August 16 that SHIB’s foundation will always remain on Ethereum, with every move developed and audited in collaboration with the Chainlink team. He also noted that new pathways now exist for builders who want to deploy Shiba Inu on other chains such as Base, XX, or Solana. 

Moreover, through the Chainlink CCIP version of SHIB, developers can seamlessly move tokens across different blockchains while triggering burns that feed directly back into Ethereum. This ensures that every cross-chain transfer contributes to reducing Shiba Inu’s considerable circulating supply. 

Dhairya also revealed that this new system was designed not just for SHIB but also for the ecosystem’s tokens, including BONE, LEASH, and TREAT, delivering a comprehensive burn mechanism that benefits all corners of the crypto network. Beyond token burns, Shiba Inu’s official partnership with Chainlink in 2024 has also brought additional technological advancements. 

Ecosystem tokens like SHIB, BONE, and LEASH have already adopted Chainlink’s Cross-Chain Token (CCT) standard, while ShibariumNet has integrated CCiP as its canonical cross-chain infrastructure. Collectively, these innovations demonstrate that Shiba Inu is not only focused on community-driven token burns but also on building a scalable infrastructure that can compete with leading decentralized networks.

For the Shiba Inu community, the new burn mechanism marks a fresh era of growth and connectivity. Token burns have always been an integral part of Shiba Inu’s long-term value proposition, and the new Chainlink CCIP model streamlines this process, making it more efficient and scalable across multiple networks. 

Shiba Inu Records Massive Weekly Burn

In a different X post, the Shibburn tracker announced that the past seven days have witnessed a staggering 158.7 million SHIB destroyed, reflecting a surge of over 1,047% compared to the prior week. This rise in burn rate indicates renewed enthusiasm in the community and heightened activity from individuals and projects committed to reducing supply. 

In the last 24 hours, Shibburn also reported that more than 29.3 million SHIB tokens were burned, representing a 4.14% increase in daily destruction rates. CoinMarketCap data shows that SHIB’s price dropped over 4.5% in a single day, yet these burn figures demonstrate the community’s continued commitment to reducing excess supply.

SHIB trading at $0.000012 on the 1D chart | Source: SHIBUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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New XRP Burn Milestone Achieved, Can Price Keep Up?
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New XRP Burn Milestone Achieved, Can Price Keep Up?

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XRP Ledger just hit a significant deflationary milestone, with the total XRP burned surpassing 14 million. The newly reached 14 million XRP burn milestone is the highest on record, indicating ongoing on-chain activity and steady growth in network usage.

Unlike other cryptocurrencies that rely on halving mechanisms or caps, XRP employs a built-in burn system where a small amount of XRP is destroyed with every transaction. This design aims to reduce spam on the network and, over time, slowly decrease the total supply.

According to the most recent count from XRPScan, a total of 14,003,265 has been burned, highlighting continued usage within the XRPL ecosystem.

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While the price hasn’t yet responded in a major way, such milestones contribute to the narrative of XRP as a maturing asset with active on-chain activity.

According to Santiment, XRP Ledger has recently demonstrated significant growth, both in terms of usage and important stakeholders, with the number of interacting XRP addresses averaging over 295,000 per day, compared to a usual daily average of 35,000 to 40,000 over the previous three months. For the first time in the asset’s nearly 12-year history, there are now over 2,700 whale and shark wallets holding at least 1 million XRP.

Can XRP price keep up?

According to CoinMarketCap data, XRP was trading at $2.13 as of this writing. With XRP trading above $2, it is more than three times higher than its base price before the rapid increase in November 2024, and investors who accumulated earlier are sitting on over 300% returns.

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However, a twist occurred: According to Glassnode, early holders began realizing profits at a rate of $68.8 million per day, indicating a wave of distribution.

If this trend continues, XRP might go to $2, an important support level to watch. If the $2 level cracks, XRP might fall below $1.61.

On the contrary, if buying pressure returns to the market and the price turns up from the current level, breaching the 50-day SMA at $2.27, it indicates that XRP may remain within the range for some time. A break above $2.65 might kickstart a fresh uptrend for the XRP price.



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Ripple’s Xrp To Burn 10% Of Total Supply: Fact Check
Crypto Trends

Ripple’s XRP to Burn 10% of Total Supply: Fact Check

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There are growing rumors on social media that Ripple is going to burn 10% of its total XRP supply within the next 48 hours. In a short post, an X user CryptoGeek said that “Global burn of XRP begin in 48 hours with the supply expected to shrink 10% causing $125.98 overnight!”

“The second major burn is happening for the XRP Ledger. I mean, last time it happened, over 13.9 million XRP was permanently destroyed from the XRP Ledger.” He also said, “The last time it happened, the burn of XRP at that scale… price went from $0.006 to $3.27 overnight.” He also referenced a chat from 2017 to support this claim and called the current event “massive.”However, is this true?

According to XRPscan, about 13,989,615 XRP has been burned so far. That burning is a result of small fees accumulated on each transaction and not due to any large burn event. XRP token burning occurs automatically whenever someone uses the XRP Ledger.

Total XRP Burned | Source: XRPScan

Moreover, XRP has a total supply of 100 billion tokens, according to CoinGecko. Burning 10% would mean eliminating 10 billion XRP, which is over 700 times larger than the amount burned in the entire history of the XRP Ledger so far. Based on current burn rates, it would take centuries to reach a 10% reduction in supply.

Also, XRP doesn’t burn tokens or buy them back the way some other cryptocurrencies do. XRP’s burn process is simple and built into how the network works. Each transaction includes a tiny fee that gets permanently removed, helping stop spam and keep the system clean.

The above-mentioned speculations arose from a post by RealFi that claimed buring 10% of REALFI token supply on XRP Ledger. The mention of token burn and XRP Ledger in the same sentence led to the confusion around Ripple burning XRP.

Also Read: XRP ETF Deadline Nears! How Will It Impact XRP Price?



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XRP Burn on Verge of 14 Million Milestone: Details
NFT Gaming

XRP Burn on Verge of 14 Million Milestone: Details

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XRP Ledger is on the verge of reaching a significant deflationary milestone, with the total number of XRP burned already approaching 14 million tokens. According to the most recent count on XRP Ledger explorer, XRPscan, XRP burned has reached an all-time high of 13,985,106.

This figure, while minor in comparison to XRP’s massive supply, represents a significant marker in XRP Ledger’s ongoing commitment to utility and network health.

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Unlike traditional token burn mechanisms such as buybacks or community-led campaigns, XRP burns occur naturally via transaction fees on XRP Ledger. Each transaction contains a small amount of XRP that is permanently destroyed, which aids in spam prevention and network efficiency.

Over time, this has led to the steady burning of XRP, with the current total approaching 14 million XRP.

XRP Ledger developments

The past week which concluded the XRP major community event, XRPLApex saw fresh announcements for the XRP ledger. In one of such, it was announced that USDC is now live on XRP Ledger.

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With the launch of native USDC on the XRPL, developers, institutions and users get access to the world’s largest regulated stablecoin for enterprise B2B payments and financial infrastructure apps.

Ondo Finance’s flagship short-term U.S. Treasuries fund, OUSG, is now live on the XRPL, marking a significant milestone for tokenized real-world assets on XRP Ledger. Minting and redemptions would be through Ripple’s stablecoin, RLUSD.

XRP was trading at $2.19 as of this writing, following a week-long sell-off.



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CoinDesk Bot
NFT Gaming

Sell-Off Continues as SHIB Burn Rate Skyrockets to 112,000%

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Shiba inu’s (SHIB) supply-side dynamics are screaming bullish, yet the second-largest joke cryptocurrency by market value trades under pressure.

Early this week, SHIB’s burn rate surged to over 112,000%, with more than 116 million coins transferred to wallets that cannot spend money. In other words, these coins were permanently taken out of circulation.

The daily burn rate refers to the number of SHIB tokens permanently destroyed or removed from circulation each day. Token burns are designed to decrease the supply of the cryptocurrency over time, bringing a deflationary appeal to the digital asset.

“Over 527 trillion SHIB tokens are approaching profitability, while the burn rate exploded 112,839% with 116 million tokens removed from circulation,” CoinDesk’s AI insights noted.

Furthermore, SHIB’s ecosystem fundamentals demonstrated strength, with record wallet growth exceeding 1.5 million unique addresses and significant increases in Shibarium layer-2 transactions.

Still, the memecoin remained locked in a downtrend at press time, last changing hands at $0.00001190, representing a 2% drop over the past 24 hours and a nearly 5% decline for the week.

Overnight, the token faced strong selling pressure, with above-average volume exceeding 500 billion units, establishing resistance around $0.0000122.

Key technical insights

  • The double-bottom pattern is forming on charts, signalling a potential 20% rally to $0.000016.
  • Key resistance has been established at $0.0000122, backed by above-average volumes.
  • The narrow trading range ($0.00001203-$0.000012) indicates the consolidation phase.
  • Volume spikes at 07:35 and 07:46-07:47 coincided with price recovery attempts.



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Anker recalls over a million power banks due to fire and burn hazards
Gaming Gear

Anker recalls over a million power banks due to fire and burn hazards

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Anker has recalled its PowerCore 10000 power bank (model A1263) due to an issue with the lithium battery that can cause it to “overheat, posing fire and burn hazards to consumers,” the US Consumer Product Safety Commission (USCPSC) wrote. The company received 19 reports of fires and explosions, including two reports of minor burn injuries and 11 property damage claims totaling over $60,700.

It’s a large recall covering 1,158,000 units sold (in the US only) through Amazon, Newegg and eBay between June 2016 and December 2022. To confirm that you have that specific model, check the rear of the device to confirm it reads: “Anker PowerCore 10000” with model number “A1263.”

To receive a $30 gift card or replacement 10,000 mAh power bank, you’ll need to send a photo with the submission date and word “recall” or “recalled” written in permanent marker. You must also send a photo showing the model number and serial number printed on the bottom of the power bank, along with a receipt (though the latter is optional). See Anker’s recall page for more details.

Once you receive confirmation that your power bank is subject to the recall, you must dispose of it safely at a municipal household hazardous waste (HHW) collection center (call ahead to confirm if they accept rechargeable lithium-ion batteries). Do not throw them in recycling bins, the trash or battery disposal bins available at retailers.

Though generally safe and reliable, lithium ion batteries can degrade over time and pose a fire hazard. Couriers like FedEx and airlines have strict rules about transporting them, and Southwest Airlines recently decreed that passengers must have battery chargers visible when in use on flights.

If you buy something through a link in this article, we may earn commission.



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Shiba Inu
GameFi Guides

Shiba Inu Burn Rate Soars 1,869% In One Day, But Doesn’t Make A Dent In Supply

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Shiba Inu has witnessed a dramatic spike in its burn rate over the past 24 hours, according to data from Shiba Inu burn tracker Shibburn.com. The total number of tokens sent to burn addresses surged by over 1,800% during this period, marking one of the most notable increases in recent weeks. 

The spike in SHIB burns is coming as the Shiba Inu price is attempting to stabilize above the $0.000013 price level. However, despite the short-term surge in token burning, the scale of the burn is insignificant when placed beside the meme coin’s massive total supply.

Shiba Inu Burn Activity Spikes Suddenly

Data from Shiba Inu burn tracker Shibburn shows that 4,578,466 SHIB tokens were sent to burn addresses in the past 24 hours, which represents a 1869% increase from the previous 24-hour timeframe. Interestingly, the majority of the tokens burned in the latest cycle came from just two large transactions.

The first involved the movement of 3,295,542 SHIB tokens to a designated burn wallet known as CA. Two hours later, a second transaction saw another 1,173,708 tokens sent into a separate address labeled BA-2. 

Source: Chart from Shibburn

On-chain data links both transactions to a wallet identified as “0xa9d1,” which is tied to the Coinbase10 label. This means that the burns may have been executed by a user on the Coinbase crypto exchange. Combined, the two burns amounted to 4,469,520 SHIB tokens and were primarily responsible for the 1,869% jump in the daily burn rate.

Shiba Inu’s Large Supply Still Far Ahead

Although the number of SHIB burned in the past 24 hours is a lot, it is actually small compared to the amount of SHIB burned during periods of high activity surrounding Shiba Inu. Also, it barely makes a dent in the circulating supply of Shiba Inu. 

The numbers show a 1,800% spike in 24 hours, but the impact of the burn is somewhat negligible in the grand scheme of SHIB’s supply structure. Shiba Inu was created with a total supply of 999.9 trillion SHIB tokens. Of this total supply, 410.7 trillion SHIB has been burned and removed from circulation, meaning there are still 589.9 trillion SHIB in total supply. 

Out of this total supply, only 4.7 trillion SHIB tokens are currently staked, meaning that there are presently about 584.5 trillion SHIB tokens in circulation. When placed next to such a massive figure, the 4.58 million burned in the past 24 hours is barely noticeable both numerically and in terms of price effect. For SHIB’s supply to reduce meaningfully enough to influence price over time, far larger and more sustained burns would need to occur.

At the time of writing, Shiba Inu is trading at $0.00001272, down by 4.9% in the past 24 hours.

SHIB trading at $0.000012 on the 1D chart | Source: SHIBUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Shiba Inu Skyrockets 5,762% in Burn Rate With Millions of SHIB Destroyed
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Shiba Inu Skyrockets 5,762% in Burn Rate With Millions of SHIB Destroyed

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Dog-themed cryptocurrency Shiba Inu (SHIB) has seen a massive 5,762% jump in burn rate, permanently removing millions of SHIB tokens from circulation.

According to data from Shiba Inu burn tracker Shibburn, the explosive increase in burn rate occurred within 24 hours. Millions of SHIB burned in various transactions contributed to the surge, with SHIB being sent to dead wallets, thus rendering the tokens unspendable and lowering the total supply.

HOURLY SHIB UPDATE$SHIB Price: $0.00001273 (1hr -0.57% ▼ | 24hr 2.36% ▲ )
Market Cap: $7,500,744,823 (2.34% ▲)
Total Supply: 589,251,115,079,818

TOKENS BURNT
Past 24Hrs: 26,246,906 (5762.9% ▲)
Past 7 Days: 119,588,449 (-19.5% ▼)

— Shibburn (@shibburn) June 8, 2025

According to Shibburn, 26,246,906 SHIB were burned, marking a 5,762.9% surge in the daily burn rate. The reverse was observed weekly, with just 119,588,449 SHIB burned in the last seven days, marking a 19.5% drop. This might have been due to the recent market sell-off.

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Digital assets fell over the last week as jobs and economic indicators slowed and global markets became more shaky. May’s job statistics indicated 139,000 new positions (up from 125,000 expected), but down from April’s total of 177,000 and a year-to-date monthly average of 144,000 jobs.

The crypto market was posting mixed price action in the early Sunday session after a relief rally over the weekend following an earlier sell-off.

Shiba Inu drops

Shiba Inu was posting slight losses after closing Friday and Saturday with gains, reaching $0.00001289. At the time of writing, SHIB was down 2.10% in the last 24 hours to $0.00001236 and down 1.81% weekly.

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Shiba Inu’s trading volume was quite low over the last 24 hours, falling 24.29% to $88.86 million, according to CoinMarketCap data.

On-chain transaction volume has also decreased, according to IntoTheBlock data. The transaction volume decreased from 25.77 trillion SHIB on June 5 to 1.14 trillion SHIB on June 7.

The drop could be a pause before the next move, especially as the market digests macroeconomic signals and broader sell-offs. Shiba Inu whales and traders appear to be on the sidelines, waiting for market clarity before making any substantial moves.





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Shiba Inu Coin Price Eyes $0.00002 Amid 41M Shib Token Burn
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Shiba Inu Coin Price Eyes $0.00002 Amid 41M SHIB Token Burn

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The Shiba Inu coin is back under the limelight with its impressive price action over the past few days. This has resulted in this crypto project recording increased price action. Adding to this, the shibburn rate has also witnessed a significant rise, suggesting a long-term bullish sentiment for it.

Considering the present market sentiments, investors are wondering about the short-term possibilities of this memecoin. Are you one of many wondering the same? Read more to find out the possible Shiba Inu Price Prediction for this week.

41 Million SHIB Tokens Burned in 24 Hours

Over the past 24 hours, the shibburn rate has experienced a jump of over 18% to 41.453 million tokens. Notably, this was a result of seven transactions out of which 2 transactions recorded a token burn of less than 1 token.

On the other hand, it witnessed 3 transactions over a million token burn with one exceeding over 23 million. With this, the total burn value of today was just over $601, making it one of the best burn days for Shiba Inu this month.

Shiba Inu Coin Records Higher Lows

The SHIB price today has displayed a neutral price action by recording a variation of less than 1% in valuation. Moreover, with an intraday trading volume of just over $190 million, it has maintained its value around the $0.00001450 mark. With a market cap of $8.54 billion, it has a dominice of 0.2464%.

The Moving Average Convergence Divergence (MACD) records a constant red histogram in the daily time frame with its averages displaying a similar price trend. Considering this, the memecoin may display a negative price action this week.

Moreover, the Simple Moving Average (SMA) has displayed a bearish convergence in the Shiba Inu price chart. This suggests an increase in the selling-over-buying pressure for the altcoin in the cryptocurrency space.

How High Can SHIB Memecoin Realistically Go?

If the market favors the bulls, this could result in the price of SHIB memecoin retesting its resistance zone of $0.0000150. Maintaining the price above that level could set the stage for it to prepare to hit its upper price target of $0.000020 in the upcoming time.

On the contrary, if the bears outrun the bulls, the second largest meme coin could drop toward its support zone of $0.0000120. If the bulls fail to regain momentum at that point, this may act as a catalyst in the price plunging toward its crucial support level of $0.000010.

Also Read: Ethereum in Spotlight as SharpLink Gaming Bets $425M on ETH



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Shiba Inu enters doghouse as whales bail, burn rate slows
NFT Gaming

Shiba Inu enters doghouse as whales bail, burn rate slows

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Shiba Inu is nearing a local technical bear market after falling by over 17% from its highest point this month.

Shiba Inu (SHIB) was trading at $0.000014 on Sunday, with its 24-hour volume dwindling to $158 million. This volume is much lower than that of other popular meme coins like Dogecoin (DOGE), Pepe (PEPE), Official Trump (TRUMP), and Bonk (BONK).

The underperformance is happening because of the ongoing whale and mart money selling and falling burn rate.

ShibBurn data shows that the daily burn rate crashed by 85% to 2.14 million. Its weekly burn rate also dropped, with the biggest burn transaction being 23.5 million on Thursday.

Shiba Inu price often does well when more tokens are being burned, as this reduces the number in circulation and boosts confidence among holders. Over 410 trillion tokens have been burned from the initial supply.

Santiment data shows that whales have been on a selling spree since January. Their total supply stood at over 743 trillion on January 19 and has dropped to 725 trillion today. This means that these investors have sold over 18 trillion tokens, a sign that they expect it to keep falling.

Shiba Inu whale transactions | Source: Santiment

Worse, the selling behavior did not improve as Bitcoin (BTC) surged to a record high of nearly $112,000 last week. In the past, a strong Bitcoin surge would have pushed Shiba Inu higher. 

Another data by Nansen shows that smart money investors have also sold their SHIB tokens. They now hold 14.13 billion tokens, down from 14.53 billion on April 8. 

SHIB smart money transactions | Source: Nansen

In addition to the falling burn rate, investors have likely rotated to the faster-growing meme coins like Fartcoin and Dogwifhat.

Shiba Inu price technical analysis

SHIB price chart | Source: crypto.news

On the positive side, there are signs that the SHIB price has bottomed. The daily chart shows that it is stuck at the 100-day Exponential Moving Average. 

It has also formed a cup and handle pattern, with the upper side at $0.00001733. The recent decline is part of the formation of the handle section. 

This cup has a depth of about 40%. Therefore, measuring the same distance from its upper side brings the target at $0.00002443. This is a notable target since it coincides with the highest point in January.



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