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Prominent wallet tracker Shibburn spreads the word about a massive removal of Shiba Inu meme coins from the total circulating supply. The burn rate has soared, reflecting that staggering burn.
In the meantime, the $SHIB team has reminded the $SHIB community – five reasons why they believe the BONE token has great potential.
$SHIB burns soar 4,461%
The aforementioned data source revealed that the burn rate jumped four figures – 4,461%. This rise was provoked by the burn of 3,166,534 meme coins. Almost all of that amount was burned in a single move as 3,062,046 $SHIB was transferred to a dead-end wallet.
Still, over the past week, a much greater $SHIB chunk was torched and it constitutes 627,973,941 $SHIB. The weekly burn rate increase comprised 364.72% with around 600,000,000 $SHIB getting burned in a single transfer to an unspendable blockchain address.
HOURLY $SHIB UPDATE$SHIB Price: $0.00001217 (1hr -0.36% ▼ | 24hr -6.75% ▼ )
— Shibburn (@shibburn) August 1, 2025
Market Cap: $7,172,414,616 (-6.77% ▼)
Total Supply: 589,247,930,860,416
TOKENS BURNT
Past 24Hrs: 3,166,534 (4461.41% ▲)
Past 7 Days: 627,973,941 (364.72% ▲)
5 reasons why $SHIB team believes in BONE
Earlier this week, the $SHIB-affiliated account @Shibizens shared five reasons why they are certain that the BONE price will not only survive but will also climb up.
BONE ensures real utility on the layer-2 blockchain Shibarium as it powers every transaction, acting as the gas token. It helps to make “every transaction, dApp, and $NFT mint.”
5 reasons why BONE will survive and climb UP
— Shibarium 🍖 | $SHIB.IO (@Shibizens) July 31, 2025
1. Real utility on Shibarium
BONE is the gas that powers the Shibarium network. Every transaction, dApp, and $NFT mint relies on it
2. Locked-in governance role
BONE holders shape the future of the Shiba Inu ecosystem through on-chain… pic.twitter.com/OFtTROqO2w
The second reason is that it performs the locked-in governance role. This token is used for voting on proposals regarding the future of the Shiba Inu ecosystem. The third reason is that BONE has a strictly fixed supply of 250 million tokens, which makes is deflationary and scarce.
Aside from those, BONE is deeply integrated within the $SHIB ecosystem: “From ShibaSwap and Shibarium to $SHIB burns and future dApps, BONE is used across the entire ecosystem.”
The fifth and the last reason is that BONE has a strong community with the $SHIB team having a long-term vision about it: “Backed by the ShibArmy and a clear roadmap, BONE has real support and staying power.”