The dog-themed cryptocurrency Shiba Inu ($SHIB) is seeing deflationary momentum come back. Its daily burn rate jumped by 1,034% in the last 24 hours, according to the $SHIB burn website. That is one of the biggest single-day increases in recent weeks.
In that time, 27,137,162 $SHIB tokens were sent to dead wallets. That is up sharply from over 2 million $SHIB burned on May 14. The jump pushed the daily total past 25 million in less than a day.
Weekly and Monthly Burn Totals
The latest burn adds to a larger trend. Over the last seven days, the network burned 46,186,218 $SHIB. For the past 30 days, the total sits at 198,171,816 SHIB. The overall number of burn transactions is now 20,825, the burn website shows.
This supply reduction push comes at a time when $SHIB is seeing what some call a supply squeeze. Exchange reserves hit yearly lows recently. Meanwhile, large holders, or whales, keep moving tokens into private wallets. That could reduce the amount available for trading on exchanges.
Market Background
Broader crypto markets saw gains after the U.S. Senate Banking Committee approved the bipartisan Clarity Act on Thursday. The vote was 15-9. It is a step toward comprehensive crypto market structure legislation. The bill now heads toward a merger with a similar one from the Agriculture Committee.
Most of those market gains have since retraced. But Shiba Inu price stayed in the green. It rose 0.30% in the last 24 hours to $0.00000627. The price is still well below its peaks, but the burn momentum may be helping sentiment.
Community Warning on LEASH v2
In separate news, a Shiba Inu-focused X account called Shibizens issued a warning to the community. It said that LEASH v2 is not live yet. The upgraded token is still in active development. There are no presales or private airdrops. The only burn claims come through the official $SHIB website.
The account also said an external audit and a public testnet are planned before launch. SHIB holders are urged to stay safe and avoid potential scams. This is a reminder that even as burn rates surge, the ecosystem still has unfinished upgrades.
