2.96 Billion SHIB Burned in Biggest Weekly Burn of Year

According to the Shibburn website, 2.96 billion $SHIB were burned in the last seven days. The latest figure represents a notable increase in $SHIB tokens burned compared to recent weeks.

Aside from surpassing that burned in recent weeks, this has made a significant imprint on a one-year timeframe, as seen on the Shibburn website, significantly exceeding other burn transactions since this time last July.

Given this, one might refer to the figure of 2.96 billion $SHIB weekly burn as the largest in a year. Contributing to this figure is remarkable $SHIB burn activity on July 26 and 27. This coincided with Shiba Inu's surge over the weekend, which saw other network metrics shoot up as well.

Shiba Inu surged over 37% during the weekend, then quickly surrendered part of the move. Social dominance reached 0.084%, its highest since April 2, amid the price surge; in addition, there were 52 $SHIB whale transactions in a single day, the most since March 31.

Shiba Inu sees major burns

On July 27, 757,803,141 $SHIB worth $4,016.36 were transferred to dead wallets in a single transaction, Shibburn reported in an X post.

Woofswap's X account noted an active day for Shiba Inu burns on July 26, having sent millions of $SHIB to dead wallets in the period when $SHIB burns skyrocketed. Citing its latest figures, Woofswap claims it had contributed to the burning of $15,000 of $SHIB on Ethereum and $4,500 of $SHIB on Robinhood.

This contributed to a significant amount of Shiba Inu burned in the last 30 days, amounting to 3.23 billion $SHIB, even as $SHIB ecosystem metrics saw an uptick.

The growth is also reflected in a steady increase in Shiba Inu on-chain holders, which has now reached 1,678,501, with nearly 80,000 addresses added in July.

According to Santiment, Shiba Inu stayed in the spotlight after a visible whale (identified on-chain as 0x8382...7b03) executed large $SHIB transfers and publicized wallet activity, sparking focused discussion about market mechanics rather than retail sentiment.

At the time of writing, $SHIB was down 3.25% in the last 24 hours to $0.000004632, albeit outperforming with an 11.18% weekly gain.