Unknown Shiba Inu User Burns 1,000,000,000 SHIB As Burn Rate Soars 8,470%

Shiba Inu burn rate spikes 8,470% as an anonymous user incinerates 1 billion SHIB tokens in a single transaction. 

Community-driven Shiba Inu burn tracker Shibburn indexed the latest transaction yesterday, confirming that 1 billion SHIB tokens moved to the official dead wallet from an unknown address, ‘0x55B…182E3’.

🔥🔥🔥 1,000,000,000 $SHIB -> transferred to dead wallet. https://t.co/CMANbi2z1y

— Shibburn (@shibburn) March 23, 2025

With SHIB currently changing hands at $0.00001305, the dollar value of the 1 billion tokens is worth $13,050. On-chain data indicates that the transaction happened yesterday at 14:55 (UTC). 

A Regular SHIB Arsonist 

While the identity of the user behind the transaction remains unknown at press time, data from Etherscan suggests that the owner of the affiliated wallet has previously burned SHIB tokens. 

For instance, on March 15, the wallet transferred 1 billion SHIB to the dead wallet. Meanwhile, before the March 15 transaction, the last time the user burned SHIB was on August 7, 2024, when they incinerated 1 billion SHIB in a single transaction. 

They also burned 700 million SHIB tokens on February 10, 2024. Despite these hefty burns, the wallet still has a balance of 1 billion SHIB, currently worth $13,050. 

Shiba Inu Burn Rate Spikes 8,470% 

Besides the latest burn from ‘0x55B…182E3’ other Shiba Inu community members also sent some tokens to the dead wallet. Shibburn data shows that the community burned 1,004,897,157 (1.004 billion) SHIB yesterday via 14 transactions. 

The team behind ShibArmyStrong (SAS), an ERC-20 token, initiated five of these transactions, burning 20,933 SHIB in the process. With 1,004,897,157 SHIB burned in 24 hours, Shiba Inu’s burn rate spiked by 8,470%. 

Shiba Inu Burn Campaign 

The latest burn is part of efforts to drastically reduce SHIB’s circulating supply, with the aim of boosting the value of the remaining tokens in the long term. 

So far, over 410.74 trillion SHIB have gone up in flames. Besides individual burns, other Shiba Inu ecosystem projects, particularly Shibarium, also contribute to the ongoing burn efforts. 

Since its inception in August 2023, Shibarium has successfully destroyed over 50 billion SHIB tokens. These tokens were burned using a portion of Shibarium transaction fees. While the team initially burned most of these tokens manually, it has automated the process since August 2024, burning over 700 million SHIB tokens.