Shiba Inu’s burn tracker recorded zero tokens burned over the past 24 hours, according to data from the Shibburn website, resulting in a 100% drop in the project’s daily burn rate. This marks an unusually quiet phase for Shiba Inu, with no burn transactions registered in the latest nine-hour period. The absence of any recorded burns continues a decline seen since the previous day, with the tracker showing no qualifying transactions within this timeframe.
Burn activity slows to a halt
Although there were no SHIB tokens burned in the last 24 hours, this does not imply a permanent breakdown of the project’s burn mechanism. The tracker only reflects on-chain burning activity that meets its criteria, and some in the community still expect the daily rate to recover before the end of the day.
No SHIB burning activity has been recorded since earlier this morning. Observers remain mindful, as the tracker could yet receive qualifying transactions before the daily cycle ends.
Some platform participants have pointed out that a $0 reading may occur sporadically and typically means no suitable burn transaction was logged during the period, rather than a malfunction in the burn system itself.
Reviewing recent data, Shibburn shows more consistent burn activity over the past week and month. In the last seven days, Shiba Inu holders burned a total of 44.6 million tokens. Over the previous 30 days, the burned total reached 413.44 million SHIB.
The weekly burn rate has dropped 69.59%, while the 30-day rate fell 88.05%. This decline highlights how burn activity has decelerated in September compared to prior periods.
| Timeframe | SHIB Burned | Burn Rate Change |
|---|---|---|
| 24 hours | 0 | -100% |
| 7 days | 44.6 million | -69.59% |
| 30 days | 413.44 million | -88.05% |
SHIB price gains as Fed actions drive markets
Despite a sharp drop in burn activity, SHIB traded higher, rising 9% over the past day to $0.00000543. Broader crypto markets rallied as investors responded to the US Federal Reserve’s latest policy decisions, focusing on interest-rate guidance over the central bank’s first rate increase in three years.
The Federal Reserve concluded its FOMC meeting this week, implementing its first policy rate hike since 2019. Fed Chairman Kevin Warsh commented during Wednesday’s press conference that inflation has been “too high … for too long.” The Fed’s “dot plot” also suggested most central bank officials foresee at least one more rate increase ahead.
Shiba Inu, a meme-based cryptocurrency, has garnered significant attention from retail traders due to its large token supply and community-driven approach.
Mini dictionary: Dot plot – A chart released by the US Federal Reserve showing policymakers’ projections for future interest rates, helping to communicate expected monetary policy direction.
Technical update for Shibarium node operators
In community news, longstanding Shiba Inu member Mazrael issued guidance to Shibarium node operators this week. Mazrael informed operators of an upcoming peer rotation as new Bor static nodes and Heimdall persistent peers were published, noting that the previous set of nodes had been deprecated.
Mazrael emphasized the need for node operators to update both files promptly. Failure to perform the required update could result in a peer count of zero and disrupt synchronization for the node.
Mini dictionary: Shibarium – A layer-2 blockchain developed for Shiba Inu, designed to enable scalable and low-cost transactions within the ecosystem. Node operators maintain the network’s decentralized structure by validating transactions and blocks.
