Shiba Inu layer 2 blockchain Shibarium stays quiet, but its role in the Shiba Inu ecosystem continues to extend beyond transaction activity, Shiba Inu long-time community member Mazrael noted in a recent X reply.
According to Mazrael, Shibarium continues to burn SHIB, powering ShibTorch, an automated token burning portal for Shibarium which converts transaction base fees collected in BONE into SHIB, permanently removing tokens from circulation to reduce supply and control inflation.
Mazrael noted a few hundred million SHIB were burned in ShibTorch over the last couple of weeks despite the relative quietness on Shibarium, adding that “don’t need to be noisy to still run.”
The Shiba Inu community veteran was responding to an X user who asked whether BONE was still relevant. Mazrael responded that the BONE token remains Shibarium’s gas and it contributes to burns on ShibTorch.
Shiba Inu daily burn rate surges 2,842%
Shiba Inu is making progress in reducing its total supply, as the SHIB burn rate has increased by a staggering 2,842% over the last 24 hours, with a massive 113.63 million SHIB tokens permanently removed from circulation by being sent to dead wallets.
You Might Also Like
According to the Shibburn website, 113.63 million SHIB have been burned in the last 24 hours, representing a 2,842% surge in daily burn rate. 147.05 million SHIB have been burned in the past seven days, a 579% increase in weekly burn rate.
The latest burn activity represents one of the biggest single-day burns of SHIB supply over the last few weeks, showing the strong backing from the community. The on-chain holder base of Shiba Inu has also been growing, with the number of holders at 1,678,912.
According to the latest update by Etherscan’s SHIB X account, SHIB recorded 98 new holders in the past day, continuing a steady growth in its on-chain community. SHIB has added 728 holders so far in August. Since the beginning of 2026, the token has gained 130,282 holders, according to the figures shared.
Be the first to comment