The Shiba Inu (SHIB) community was shaken this week by an unexpected surge in burn activity—1.002 billion SHIB tokens were sent to a dead wallet in a single transaction, spiking the daily burn rate by a jaw-dropping 8,099%. Now, the mystery behind this massive token burn has been solved.
🔥 The SHIB Burn That Shocked the Community
- According to Shibburn, a blockchain tracker monitoring SHIB token burns, this transaction was the largest single SHIB burn of the week.
- In total, 1,093,130,656 SHIB were burned over seven days, increasing the weekly burn rate by 101.7%.
- However, burn activity dropped back down sharply—just 33.1 million SHIB were burned in the 24 hours following the event, a 96.7% decline from the day before.
🐳 The Whale Steps Forward: CENT Meme Coin on Shibarium
After much speculation and community buzz on X (formerly Twitter), the mystery whale behind the 1 billion SHIB burn revealed themselves:
- The @1cDream X account, linked to the CENT meme coin project on Shibarium, stepped forward as the entity behind the massive burn.
- CENT describes its mission as a burn-centric meme project, focused on reducing SHIB’s circulating supply by billions or even trillions.
- The account responded to Shibburn’s post, declaring: “We want to burn more!”
“Join us SHIB army—we burn together.”
💡 How the SHIB Burn Was Performed
- The burn was facilitated using Shibarium gas fees, where BONE tokens were converted into SHIB.
- These SHIB tokens were then transferred to an unspendable “zero wallet”, effectively removing them from circulation.
- The largest transaction aside from the billion-burn was 23 million SHIB, also attributed to Shibarium-based activity.
📉 SHIB Burn Rate Volatility and Community Reactions
While the massive 1B burn boosted optimism in the short term, the sharp drop in burn activity the following day sparked discussion over sustainability.
- Some community members questioned whether “whale-led burns” could become a consistent supply reduction mechanism.
- Others celebrated CENT’s contribution and called for more projects to join the SHIB burn movement.
Hidden Insight
The involvement of meme coin projects like CENT in SHIB burning highlights a new wave of community-led deflationary mechanisms. If sustained, Shibarium-based burns could evolve into a powerful tokenomics model that aligns project incentives with long-term SHIB value.