Shiba Inu’s burn rate has surged by 900% in response to a spike in trading activity, with nearly 5.89 million SHIB tokens permanently removed from circulation. Derivatives volume has risen 25.34% to $586.29 million, and open interest is up 13.5% to $287.41 million, according to CoinGlass.

This increase in burning activity indicates a growing community effort to decrease SHIB’s circulating supply, which currently stands at 584.57 trillion tokens out of a total supply of 589.25 trillion. Since its launch, Shiba Inu has burned over 410 trillion tokens, reducing its initial supply by more than 40%.

In the world of cryptocurrency, “burning” involves permanently taking tokens out of circulation by sending them to unrecoverable wallet addresses. This deflationary strategy aims to enhance scarcity, potentially boosting the token’s value over time, especially in high-volume trading environments like the current derivatives surge for SHIB.

Derivatives data also reveals a rise in bullish sentiment, with the long/short ratio on OKX climbing to 2.27, indicating more traders are anticipating price gains. Additionally, liquidations show more short positions being wiped out, with $467.84K in long positions liquidated over 24 hours compared to $269.44K in shorts.

As of the latest update, SHIB has seen a 2% increase in the past 24 hours, trading at $0.00001479. This information was first reported by TheStreet on July 18, 2025.

Read more at Yahoo Finance: Shiba Inu’s burn rate soars 900% as trading activity explodes