The Shibarium Updates X account linked to the Shiba INU team has released an update on Shib Burns that was implemented at Shibarium over the past week.
In the end, over a billion meme coins have been transferred from the circulation. Still, the majority of shivs that continue to circulate in the market remain in nearly half of the quadrillion.
1,254,539,419 Shibucoin is enveloped in flames
According to “Shibtorch Updates” published by the aforementioned account, “Shib is “disappearing quickly” through a community burn portal powered by Shibarium, a layer 2 solution.
This update revealed that over the past week the Shiba Inu community was able to burn a whopping 1,254,539,419 Shibu Meme Coins through this portal.
shibtorch update 🔥
The Community Burn Portal is on fire – the Shiv is disappearing rapidly.Total burning: 1,254,539,419 $ shib
5.69% since last week🕒Recent burns:
•21.79m Shiv – 1 5
•15.06m Shiv – June 3rd
•14.57m Shiv – 3
•15.87m Shiv – 2 of 1 pic.twitter.com/o5ibtz0qvo– Shibarium Updates will be held on June 9, 2025
Recently, four major burns have been occurring, contributing to the removal of 1.2 billion S.S. from the circulation supply. They carried 1587 million, 14.57 million, 15.06 million, and 2179 million Siv.
After a recent upgrade announced by the SHIB team earlier today, Shib Burns will be even more efficient and seamless, Shib Marketing Leader Lucie has promised. The Shib Burn Portal already works automatically and burns the Shib after a certain amount of bone axis fee has been converted to it. But now, Lucy said in her tweet that all single activities related to “swap, liquidity actions, and other uses” will automatically launch a live burn.
According to Shibburn's website, the overall amount of burnt Shivcoin is 410,748,895,532,230 Shivs.
