- SHIB burns surpassed 27 million while exchange reserves continued declining significantly.
- Senate approved Clarity Act as cryptocurrency markets reacted with temporary price increases.
- Shibizens warned community against fake LEASH promotions and unauthorized airdrop scams.
Shiba Inu (SHIB) recorded a massive increase in token burns as millions of coins permanently exited circulation within one day. Data from the SHIB burn tracker showed that more than 27 million SHIB tokens were burned during the last 24 hours, representing a 1,034% increase in the project’s daily burn rate compared to previous sessions and marking one of the largest single-day increases recorded by the community in recent weeks.
The latest burn surge followed a rapid increase in activity between May 14 and May 15, when burned tokens climbed from slightly above 2 million SHIB to more than 25 million SHIB within less than one day, significantly strengthening the project’s ongoing effort to reduce circulating supply over time. Besides the daily increase, broader burn statistics also reflected continued supply reduction efforts from the SHIB community, with more than 46 million SHIB removed from circulation during the past seven days while monthly burn totals approached nearly 200 million tokens.
Meanwhile, SHIB maintained moderate gains despite continued volatility across the cryptocurrency market, with the token trading around $0.00000627 as investors also tracked declining exchange reserves that recently dropped toward yearly lows amid continued whale accumulation activity.
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Clarity Act Developments and Scam Warnings Add to SHIB Market Focus
Broader cryptocurrency sentiment also improved after the U.S. Senate Banking Committee approved the bipartisan Clarity Act in a 15-9 vote, advancing one of the most closely watched crypto market structure bills toward the next legislative stage alongside a similar Agriculture Committee proposal.
Although several cryptocurrencies later surrendered portions of their earlier gains, SHIB continued holding positive territory as traders evaluated whether clearer regulatory frameworks could encourage stronger long-term participation across the digital asset sector.
At the same time, SHIB-focused X account Shibizens issued a warning to the community regarding fake ecosystem promotions, clarifying that LEASH v2 remains under active development and that no official presales or private airdrops currently exist for the project.
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