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Over 6 million SHIB tokens burned in 24 hours, boosting deflation hopes amid strong Asian demand.

Protocol Fundamentals
09 May 2026
Cointribune
View Source
Bullish
pluang ai news

More than 6 million Shiba Inu (SHIB) tokens were permanently removed from circulation within 24 hours, increasing the daily burn rate by 37.28%. This deflationary move is part of a long-term strategy to reduce SHIB supply, with over 410 trillion tokens already destroyed since the project's start, representing more than 41% of the initial supply. SHIB remains highly traded on platforms like India's WazirX, reflecting strong interest from Asian investors. The token's price rose slightly by about 2% amid renewed risk appetite in the crypto market, although the large remaining supply means price gains are not guaranteed. The community continues to rely on token burning to create scarcity and maintain investor interest.

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