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Shiba Inu (SHIB) traded largely sideways Friday amid high market liquidity, although the meme coin has retained much of its recent momentum. SHIB was around $0.00000494, up roughly 11% over the past week after climbing sharply on August 19 and 20.
Meanwhile, behind the price action, however, Shiba Inu’s ecosystem continues to remove tokens from circulation. A recent disclosure from Shiba Inu community member Mazrael highlighted that Shibarium’s fee-based burn mechanism has quietly destroyed hundreds of millions of SHIB in recent weeks.
Shibarium uses BONE as its gas token, with transaction fees helping fund SHIB burns through the ShibTorch mechanism. Mazrael said the process remains active despite relatively little attention from the broader community.
The latest seven-day burn figure stands at about 143.92 million SHIB, while roughly 4.75 million tokens were destroyed over the most recent 24-hour period cited in the update. The cumulative burn total has reached approximately 3.45 billion SHIB.
However, that activity is considerably lower than the network’s late-July peak, when daily burns reached about 1.3 billion SHIB. Still, the continued destruction of tokens reinforces Shibarium’s longer-term role in reducing SHIB’s supply.
 
Recently, Shibariumscan experienced an indexing issue following a change involving Cloudflare and DNS configuration. Its displayed cumulative transaction count temporarily fell from about 1.56 billion to 475 million, creating the appearance of a dramatic collapse in network activity. The discrepancy was attributed to the explorer’s indexing process rather than an actual reversal of blockchain transactions.
The latest figures cited by the Shiba Inu community show the explorer recovering, with indexing still underway. Daily transactions have also remained relatively modest compared with earlier periods of heavy activity.
Nevertheless, the latest supply reduction is a positive development for SHIB’s long-term tokenomics, but it may not be enough on its own to trigger a sustained price rally.
SHIB has an enormous circulating supply, meaning hundreds of millions of burned tokens represent only a tiny fraction of the available supply. Even larger burn events would need to persist for an extended period before creating a substantial supply shock.
At the time of writing, SHIB was trading at $0.000005220, reflecting a 5.98% gain over the past 24 hours.