shiba inu burn mechanism

Many coins have burning mechanisms. In other words, they take coins out of circulation. Coins with infinite supplies have this, like Ethereum. This makes Ethereum deflationary. Furthermore, coins with finite supplies have this. Like Shiba Inu.

It also makes them deflationary. The idea is that this has a positive effect on the price. So, let’s have a look how this works for Shiba Inu.

What Is the Shiba Inu Coin Burn Mechanism?

The Shiba Inu burn mechanism burns Shiba Inu coins. You can do this by sending coins to a so-called “dead wallet.” You can send assets, but you can’t retrieve them from this wallet. Shiba Inu uses two such wallets. They also use a “Black Hole.” This is the Genesis address. See the picture below. 

However, the Shib community also burns their coins. They already burned 10 billion SHIB. Vitalik Buterin made the biggest burn. He received 50% of all SHIB tokens in 2021. A total of 500 trillion SHIB. He burned 410.24 trillion SHIB. The rest he donated to charity. So, besides Vitalik’s share, the Shib Army burned another 180 billion SHIB. 

The idea behind this mechanism is that the max supply becomes scarce. As a result, the coin should see a positive price development. For example, the BNB and ETH coins also have regular burn events.

Currently, SHIB owners who burn their coins get a reward. They receive “burntSHIB” tokens. They can also stake these tokens and the reward is in Ryoshi tokens. This is a token that the Shib community created. This new mechanism launched on April 23, 2022. The Shib Army burnt 20 billion SHIB in just five days.

Shiba Inu
Source: Shibburn
What Is the Shiba Inu Coin Burn Schedule?

The current burn rate stands at -58%. This is in stark contrast to September, when burn rates were between 750% and 1000%. See the picture below.

As such, there’s no fixed burn schedule. Some bigger SHIB whales occasionally hold burning events. However, there’s no regular schedule. They burn SHIB during events like games or burn parties. Each month, the amount of burned SHIB changes. In May 2022, holders burnt 30 billion SHIB. However, the SHIB price kept dropping. As a result, less SHIB got burned each month. 

This also shows the downside of the burning mechanism. Burning coins in of itself is no guarantee for a price increase. It appears that the Shib Army burns more when the market is bullish and less when it is bearish.

Shiba Inu
Source: Shibburn
Where Can You See the See Shiba Inu Coin Burn?

There’s a special website that shows all burned SHIB. It’s the page. So, it keeps track of:

  • Daily SHIB burns
  • SHIB price, market cap, and volume
  • The current supply
  • Burn rate

Near the top of the page, it also shows you in a graph where all SHIB tokens are. In circulation or burned. That’s the first picture we used in this article.

What Is the Shiba Inu Coin Burn Tracker

The Shiba Burn Tracker shows many details about the SHIB burn. It has a similar function as the Shibburn page. On the Shiba Burn Tracker site, you can find the following info.

  • SHIB created and burned
  • Last SHIB burns
  • How to burn SHIB
  • Statistics over the last 30 days of SHIB burns
  • Summary of burns

See the picture below. It shows part of the Shiba Burn Tracker site.

Shiba Inu

Source: Shiba Inu burn tracker


We answered four popular questions about the Shiba Inu burn mechanism.

The current price of SHIB is $0.00001094. This is almost 8% down during the last 24 hours. However, it’s still up 10.5% over the last 15 days. In one year, SHIB lost 80.8%. The market cap is $6.4 billion. There are 589 trillion SHIB in circulation. However, the max supply was one quadrillion tokens.

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