Shibburn Reveals Over 44B SHIB Was Burnt in 2024

Shibburn, a popular Shiba Inu burn-tracking system, has revealed an impressive amount of SHIB meme coins burned in the previous year. According to the New Year’s tweet, the Shiba Inu ecosystem saw 44,623,604,014 SHIB permanently destroyed in 2024.

The significant milestone was attainable due to the combined efforts of the Shiba Inu ecosystem team and the Shiba Inu community. Notably, the total burned SHIB token has exceeded a $1 million valuation at the current market price.

Community Deems Burn Rate Insufficient

Meanwhile, the cumulative burn statistics followed the release of the December incineration record. Shibburn disclosed that a total of 2,679,767,542 SHIB tokens were incinerated in 143 different transactions.

While some saw the development as bullish, most of the community frowned at the yearly SHIB statistics. Most grievances revolved around the proportion of burns compared to Shiba Inu’s massive supply.

Most users insisted the burns were not big enough to impact Shiba Inu’s price, while some others argued that the burn rates were very slow.

However, some SHIB enthusiasts expressed optimism about this year’s burn records. For instance, one user said he hopes the platform burns $2 trillion this year. Another enthusiast said he expects the ecosystem to incinerate double or maybe triple the amount of last year’s incinerated token.

Kusama: SHIB Burns Not Enough

It bears mentioning that co-founders of some other meme coins who pledged to support the course of the Shiba Inu ecosystem burnt millions to help accelerate SHIB incineration in 2024. However, Shytoshi Kusama, Shiba Inu’s lead developer, revealed that burns would not solve the ecosystem’s problems.

In response to a community inquiry regarding a roadmap of burning 99% of SHIB tokens, Kusama stated that reducing SHIB’s supply relies on adopting the Shiba Inu tech stack, with projects burning part of their profits.

Meanwhile, in a recent tweet, the pseudonymous lead developer has expressed excitement about the network’s achievements in the near term. He stated that this year will be “epic” for the Shiba Inu ecosystem, elating the token’s enthusiast.