Shibburn trackers have revealed that over the past day, Shib Burn Metric has recorded a five-digit increase, with tens of millions of meme coins being sent out of the circulation.
This sudden surge in shiv burns comes after the crypto market gained bullish momentum thanks to the newly reached new highs that Bitcoin has reached.
Burn Rate Jump 11,899%
A recent update issued by the aforementioned data source reveals that over the last 24 hours, Shiv’s burn rate has skyrocketed at an impressive 11,899% thanks to the massive amounts of meme coins that have been cumulatively burned this time: 28,682,712 Shiv.
There have been three burn transactions so far, carrying 15,106,880 SHIBs, 6,466,388 SHIBs and 7,109,444 SHIBs in non-dedding blockchain wallets. The transaction was launched by an anonymous whale.
1,095,269,361 Shiv burned last week
According to weekly burn updates issued by Shibarium Updates (@shibizens), an X account belonging to Shiba-Inu, Shib Team was able to dispose of a large amount of meme tokens.
In total, 1,095,269,361 Shivs have been kicked out of the crypto market and trapped in dead-end wallets. These burns were carried out via the Shib Burn Portal on the Shiba Inu website.
Shibtorch – Weekly burn updates
Total burning: 1,095,269,361 shib
Changes from last week: 🔥 +4.30%Latest burns:
•May 21, 2025 – 07:00 UTC: 15,106,80.28 Shiv
•May 19, 2025 – 02:24 UTC: 14,993,658.85 ShivCurrently collected:
•2,491,920.75 shibu
•115.52 bones pic.twitter.com/no1so7jr4l– Shibarium Updates on May 21, 2025
The two most recent burns registered there featured 14,993,658.85 Shiv (May 19) and 15,106,880.28 Shiv (May 21). Another burn will occur as soon as another minimum amount of SHIB is collected from Shibarium’s trading fees. So far, 2,491,920.75 shiv and 115.52 bones have been collected and burned later.
The market is gaining momentum thanks to the new Bitcoin ATH
On May 21st, Bitcoin, the largest digital currency by market capitalization, registered a price rise as it finally reached its long-awaited new history high. This time, BTC has skyrocketed to $111,861.
The previous historic peak was destroyed on January 20th, with Bitcoin reaching $109,356 per coin. The current price surge comes as Spot Bitcoin ETF registered a massive influx registered (incident $329 million on Tuesday). Another trigger has finally passed the Stablecoin Bill, removing key procedural barriers to the US crypto business and serving as a major bullish driver for the broader cryptocurrency market.
During the press, Bitcoin changed hands at $110,484.
