The Shibarium layer-2 blockchain, running on the Ethereum network, was launched in August 2023. The sole purpose of the new network was to expand its utility and use cases by solving problems plaguing the decentralized landscape. While several projects run on the Shibarium network, it barely makes its price shoot up in the charts. Only the burns can help Shiba Inu scale up in the charts as Shibarium is seen as a SHIB burning mill.
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SHIB: Here’s the Official Shiba Inu Burn Count on Shibarium
The Shibarium network has burned a total of 1,151,381,964 (1.15 billion) SHIB tokens by the end of May 2025. The Shiba Inu burn rate is also up 5.12% since last week indicating an uptick in sending the tokens to the dead wallet. However, on a larger telescope, the burns are meager as 1.15 billion SHIB tokens are worth only $15,500 currently.
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In addition, Shiba Inu has a circulating supply of 549 trillion tokens. Removing 1 billion tokens from circulation from a pile of 549 trillion tokens is less than 1% of the burns. If it takes nearly two years for Shibarium to burn 1 billion SHIB tokens, then it could take more than 100 years to even burn 1 trillion tokens. Therefore, a comet hitting the Earth and wiping out the human race has more chances than Shibarium removing 90% of the circulating supply.
Shibarium was once considered a ‘SHIB burning mill’ that could send trillions of Shiba Inu tokens to the dead wallet. That was much before its release but the reality after launch is starkly different. No other project is capable of burning trillions of SHIB tokens and the meme currency might never become scarce. In conclusion, its price could remain stagnant in the indices forever and the 1-Cent dream might never turn into reality.