The Shiba Inu community keeps moving SHIB meme coins out of circulation to reduce the total supply in an attempt to turn this asset into a scarce one.
Over the past week, the SHIB army has succeeded in burning millions of meme coins. However, there is a negative pivot here as this has pushed an important Shiba Inu metric way down.
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Almost 2 million SHIB gone amid this key SHIB metric’s crash
Data provided by the Shibburn wallet tracker in a recently published X post reveals that over the past seven days, the SHIB army has transferred 1,662,665 SHIB to unspendable blockchain wallets, i.e., burned them.
HOURLY SHIB UPDATE$SHIB Price: $0.00001333 (1hr -0.48% ▼ | 24hr 1.14% ▲ )
Market Cap: $7,854,595,659 (1.16% ▲)
Total Supply: 589,247,710,238,485
TOKENS BURNT
Past 24Hrs: 69,597 (-0.26% ▼)
Past 7 Days: 1,662,665 (-92.66% ▼)
— Shibburn (@shibburn) September 12, 2025
Despite the significant number of meme coins that got burned, the overall weekly burn rate has collapsed by 92.66%. The biggest single burn this week has been 1,033,449 SHIB, which was moved to a dead-end wallet roughly five days ago.
The tweet also shows a minor decline in the daily burn rate, minus 0.26% with 69,597 SHIB destroyed. Updated figures of the Shibburn website reveal that this metric has already moved in green, now showing a 52.23% growth with 106,219 SHIB coins torched over the past 24 hours.
Overall, a total of 410,752,289,867,556 Shiba Inu coins have been torched out of circulation by now, with 584,696,203,158,754 remaining in the cryptocurrency market.