Shiba Inu Community Burns 117M SHIB on July 8 in Biggest Single-Day Burn in 6 Months

Shiba Inu’s community destroyed more than 117 million SHIB tokens on July 8, the largest single-day burn in six months, sending them to a dead wallet and permanently removing them from circulation. A wallet linked to Robinhood led the activity by burning over 109 million SHIB in one transaction, according to BeInCrypto, with several smaller wallets contributing the rest. Despite the burn spike, SHIB is down nearly 9% over the past month and has traded in a narrow range. Total supply destroyed since 2021 is roughly 410.84 trillion tokens, while circulating supply still exceeds 585 trillion; Ethereum co-founder Vitalik Buterin burned 410.24 trillion SHIB worth $6.7 billion in May 2021.