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Prominent Shibburn coin tracker has published a fresh update on its website. According to this data, the $SHIB community has transferred almost five million meme coins in total from the circulating supply of Shiba Inu over the past day.
Meanwhile, the second-largest meme coin is striving to recover from the 17.5% price crash it faced last week.
$SHIB burns soar 380%, million $SHIB torched
The aforementioned data source shows that over the past day, the major $SHIB metric, the burn rate, has seen an increase of 380.45%. This substantial growth was achieved thanks to a large amount of meme coins transferred to dead wallets — 4,804,534 $SHIB in total.
The list of the burn transactions shows that over the past 24 hours, there have been five burn transfers. The largest ones carried 1,191,814 $SHIB; 1,353,406 $SHIB and 1,887,367 Shiba Inu.
The $SHIB community, along with the Shiba Inu team, has been conducting regular coin burns since 2021 in attempts to make the total circulating $SHIB supply shrink. Initially, the $SHIB team, led by Ryoshi, launched a quadrillion Shiba Inu coins. However, in May 2021, the mysterious $SHIB creator sent 500,000,000,000 $SHIB as a gift to the Ethereum founder, Vitalik Buterin, as a sign of respect; $SHIB runs on the Ethereum blockchain.
Over the weekend, Shiba Inu experienced a massive decline of slightly more than 17%, going down from $0.00000783 to the $0.00000646 level and mirroring the recent plunge of Bitcoin. Since Saturday, the meme-inspired coin has managed to recover by roughly 4% and is currently changing hands at $0.00000671.
Top $SHIB executive not worried about Bitcoin price
The official marketing lead of the Shiba Inu team, known across the crypto space as Lucie, has taken to her X account to comment on the current bloodbath the crypto market has been going through.
Noting the massive Bitcoin price crash below the $80,000 since Thursday, Lucie stated that he had seen $BTC dropping from $68,000 to $26,000 and then surging back above $121,000. “I’m not really worried,” she tweeted, “I am just bracing myself.”
I was here from 68K $BTC to 26K $BTC and back to 121K $BTC, so I am not really worried.
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) February 1, 2026
I am just bracing myself.
And my delulu mind is dreaming of a reversal and seeing a spring bull market with $SHIB running 1000% in three days.
Dreams are vivid, they say 😁
She also jokingly shared her daydream of seeing a crypto bull market arrive, where Shiba Inu would skyrocket by 1,000% within just three days. Bitcoin has also slightly recovered today, now trading at $77,498.