The Shiba Inu community achieved a big goal in burning tokens on May 31, 2025. The ShibTorch system which burns SHIB tokens, acknowledged burning a total of 1,172,072,308 SHIB. This number reflects a 5.62% increase compared to the previous week.
Shiba Inu Army Drives Token Scarcity
The ShibTorch portal also shared details of recent burns over the past few days. On May 31 at 6:01 UTC, 20,579,943 SHIB tokens were burned. On May 28 at 20:44 UTC, 13,091,149 tokens were removed. A day earlier, on May 27 at 5:30 UTC, 14,374,042 tokens vanished.
These actions are part of the community’s plan to decrease the total number of SHIB tokens available. The point of burning Shiba Inu tokens is to lower the supply which can boost its worth.
The recent burns show how active the community is in supporting this goal. Their participation in ShibTorch reveals that the SHIB Army cares a lot about making Shiba Inu better known in the crypto industry.
Meanwhile, technical analysts are also highlighting a possible rally in the price of Dogecoin (DOGE). As the Shiba Inu community drives SHIB’s scarcity, there’s a possibility it can mimic with DOGE’s upward price movement.
Shibarium Has Now Processed 1.2 Billion Transactions
At the same time, Shibarium shared news of its own. Posted by @Shibizens on X, this update shows what has happened with Shibarium during the day.
Overall, the network has processed more than 1.188 billion transactions and it has processed 99,195K in the past 24 hours. With its block time at 5.02 seconds, transactions are validated fast.
Shibarium has registered 11.268 million blocks. There are currently 248.674 million addresses which reflects the rising number of users on the Shiba Inu network.
Also, there are currently 270.22K active accounts and 28.727K smart contracts running. Six new contracts were launched and six more were validated to confirm their safety for use.
There are 15.267K tokens supported on Shibarium and the network is trusted further by having 6,802 verified contracts. Roughly 676.925 BONE in transaction fees have been recorded on the last 24 hours on Shibarium.
BONE plays the role of a payment system for activities carried out on the Shibarium network. It demonstrates how Shibarium is working to keep Shiba Inu’s ecosystem efficient.
Low Fees and High Speed Drive Shiba Inu Adoption
People are able to use this meme coin more conveniently because both its speed and the fees are low in the network. Many active transactions and a growing number of wallets mean more people are interested in Shiba Inu’s technology.
As the Shiba Inu community make efforts to boost SHIB’s value, laws in other regions could influence the crypto world. For instance, the IMF has warned Pakistan that its plans to mine Bitcoin could affect energy security and currency rules.
Paul
Paul Adedoyin is an experienced crypto journalist who provides timely news, in-depth research, and insightful content to inform and empower his audience. He can be reached via [email protected]
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
