Shiba Inu Burns Bright: Here’s How Much SHIB Was Burned In 2023

2 Mins read

The Shiba Inu community burn initiative has become a mainstay in the meme coin’s ecosystem. The frequent SHIB burns are believed to be an integral part of the crypto token’s growth. As such, the number of SHIB tokens that were burned in 2023 has come under the radar, with there being a notable decline from the previous year. 

Total Number Of Shiba Inu Tokens Burned In 2023

According to data from the burn tracking website Shibburn, over 76 billion SHIB tokens were burned in 2023. This figure represents an 8.33% decline in the yearly burn rate. In 2022, over 83 billion SHIB tokens were burned. 

Therefore, the figure recorded in 2023 may be considered disappointing, especially since there were expectations, going into 2023, that the SHIB burns would increase exponentially with the help of Shibarium’s launch. It is, however, worth mentioning that the SHIB burned in 2023 would have been way lower if not for the layer-2 network. 

Shiba inuSource: Shibburn

Further data from Shibburn shows that the monthly burns last year were relatively low until December, the same period Shibarium carried out its Shiba Inu burns. The layer-2 network executed four burns in December, all summing up to over 33.8 billion SHIB tokens burned

This means that Shibarium accounted for almost all the SHIB burns in December, with just about 35 billion SHIB burned that month. Before then, the only time monthly SHIB burns crossed the 10 billion mark was in May. Meanwhile, there is the possibility that the amount of SHIB burned in 2023 could have been way higher if not for Shibarium’s botched launch.

Shiba Inu price chart from (SHIB burn)

SHIB price at $0.0000096 | Source: SHIBUSDT on

‘$0.01 Dream’ Still A Long Way From Being Actualized

The major goal of the SHIB burns is to increase the meme coin’s value, with the $0.01 price level as one of the targets in mind. According to Shiba Inu’s burn tracker, Shiba Inu’s maximum circulating supply will need to be just over 85 billion if it is to get to $0.01. To achieve this, 85.43% of SHIB’s actual circulating supply will need to be burned and removed from circulation. 

If so, there is still a long way to go before this can be achieved, as the meme coin’s circulating supply currently stands at over 589 trillion. So far, only 41% of SHIB’s total supply has been burned, with a majority of them going into Shiba Inu’s burn address

The Shiba Inu community will, however, be banking on Shibarium to help reduce the meme coin’s circulating supply significantly. The number of SHIB tokens burned this year is expected to be way higher than the one recorded last year if the layer-2 network manages to keep up the momentum it picked up from the end of last year. 


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.