Shiba Inu has witnessed an aggressive cut in its circulating supply as the network continues to burn the asset in large quantities, registering its 2026 biggest token burn this week.
While the aggressive burn activity still extends to this moment, tens of millions of $SHIB tokens have also been burned over the last 24 hours.
$SHIB network activity soars
Per the latest data from Shibburn, the Shiba Inu burn rate has soared massively by over 3,607% over the last 24 hours as a total of 24.38 million $SHIB were destroyed during the period.
The aggressive burn trend, which began a few days ago, saw Shiba Inu register a massive burn of over 1.2 billion $SHIB within just 24 hours on Monday, causing it to record the biggest burn week ever seen this year.
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The unusual network activity has drawn attention from market analysts, especially because it arrived after Shiba Inu witnessed a surprise rally which marked its largest price surge of the year.
The leading meme token saw its price surge by over 35% within just one day, igniting renewed trading activity and an unprecedented rise in its network activity.
Nearly 3 billion $SHIB gone in one week
Following the rapid surge in the Shiba Inu burn activity seen this week, the data further showed that about 2.98 billion $SHIB have been burned over the past seven days.
With its monthly total currently sitting at 3.25 billion $SHIB, it is evident that the most tokens were burned this week. Meanwhile, the 24.38 million $SHIB burned in the last 24 hours suggests that, although the pace has cooled from Monday's unmatched burn event, the community's commitment to reducing supply remains strong.
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