Shiba Inu (SHIB) commemorates its fifth anniversary by showcasing substantial progress in token deflation and ecosystem development. A central element of this milestone is the significant reduction in SHIB’s supply through token burns, accelerating with a reported 1,720% weekly increase in the burn rate recently. Cumulatively, over 41% of the meme coin’s colossal initial supply—equivalent to 410 trillion tokens—has been permanently removed from circulation.
Notably, a major historical event contributing to this deflation occurred when Ethereum co-founder Vitalik Buterin burned 410 trillion SHIB tokens in May 2021. This decisive action eliminated 90% of the tokens originally gifted to him. Furthermore, Buterin donated 50 trillion SHIB tokens to a charitable fund at the time, demonstrating a significant early redistribution.
Reaching a peak market performance in October 2021, SHIB achieved its all-time high price of $0.000088. This surge propelled its market capitalization to briefly surpass that of its predecessor, Dogecoin, highlighting its explosive growth phase.
The SHIB ecosystem has matured significantly beyond its token origins. Key infrastructure now includes ShibaSwap, a native decentralized exchange (DEX); Shiba Eternity, a mobile game designed to engage the community; and Shibarium, the project’s dedicated Layer-2 blockchain solution aimed at enhancing scalability for applications built on the Ethereum network.
Sustained community support, epitomized by ongoing token burn initiatives across various platforms and projects, alongside strategic ecosystem expansions, is regarded as fundamental to Shiba Inu’s future growth and the long-term sustainability of the token’s value according to project representatives.