Shiba Inu team member Ragnar has sparked rumors of a potential breakout for SHIB. In a since-deleted X post, Ragnar alludes to a breakout caused by a record-shattering Shiba Inu burn, with 9.25 trillion SHIB being burned this month. It’s unclear why the post was deleted, but some in the SHIB community believe it was to avoid raising expectations too high.
For context, the highest number of SHIB tokens burned in a month was in the mere billions. The only time a trillion Shiba Inu tokens were burned in a single year, let alone a month, was from Etherehm founder Vitalik Buterin.
Perhaps a burn is coming this month, and Ragnar’s tweet was a typo, or overall overlooking on his part. Shibarium will likely contribute to a major Shiba Inu burn phase this month, but one in the trillions is unlikely. The layer 2 network contributed almost 34 billion burned SHIB to last year’s total 76 billion+ burned in total. In January this far, 64 million SHIB has been burned.
Therefore, Ragnar’s tweet hinting at rumors of a huge Shiba Inu burn is likely dramatized. At most, the dog-themed cryptocurrency will likely burn in the hundreds of billions in January. A bullish breakout for Shiba Inu may come with a Shiba Inu burn phase, but not in the trillions.