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Shiba Inu’s daily burn jumped 5,500% to 40 million tokens, driven by two large burns and optimism after Bitwise’s Dogecoin ETF filing.
Shiba Inu (SHIB) burned 40 million tokens in the last 24 hours, a 5,500% surge that coincided with lead developer Shytoshi Kusama’s comment that a SHIB‑ETF is “one step closer” after Bitwise filed for a Dogecoin ETF【1】. The spike fuels speculation that regulatory approval for a meme‑token fund could boost SHIB’s market profile.
| At a glance | |
|---|---|
| Burn rate (24 h) | +5,500% |
| Tokens burned (24 h) | 40 million SHIB |
| Largest burn tx | 32.8 million SHIB to dead wallets |
| Catalyst | Bitwise Dogecoin ETF filing & Kusama’s ETF optimism |
Shibburn.com recorded two back‑to‑back transactions that sent over 32.8 million SHIB to dead wallets, accounting for most of the 40 million tokens destroyed in the past day【1】. A separate 13 million‑token burn and a 20 million‑token burn were also logged, pushing the weekly total to 140 million—up 10.45% from the prior week【1】. The dramatic rise in on‑chain token destruction is intended to shrink circulating supply and, in theory, increase scarcity‑driven price pressure.
Kusama’s optimism follows Bitwise Asset Management’s recent filing for a Dogecoin (DOGE) ETF with NYSE Arca, filed on March 3【1】. While the DOGE ETF would be cash‑settled and held by Coinbase Custody, its approval could set a regulatory precedent for meme‑token funds, prompting investors to anticipate a similar SHIB product. The burn surge therefore aligns with broader market speculation that an ETF could unlock institutional exposure to SHIB, a narrative that has already lifted community activity.
SHIB’s price remains relatively stable despite the burn, trading near its recent range of $0.000013‑$0.000014. The token’s circulating supply exceeds 550 billion, so the 40 million burned represent roughly 0.007% of total supply—insufficient on its own to move price materially without accompanying demand. Nonetheless, the coordinated burns signal a community‑driven effort to tighten supply ahead of any potential ETF catalyst.
The surge in SHIB’s burn rate underscores a strategic push to align tokenomics with a possible ETF launch, but whether the supply contraction will translate into price appreciation hinges on regulatory outcomes and broader market demand.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 25, 2026 · How we report
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