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DOGE 
SHIB Shiba Inu Coin: The destruction of millions of tokens cannot stop the price decline
Shiba Inu Coin is one of the kind of altcoins that is both fascinating and troubling. Such tokens are far from the once-dreamed and once-declared dollar target, and now they fluctuate like a lost compass. Destruction operations continue one after another, but the price decline is far more violent than a weak rebound like a butterfly\'s wings. Once upon a time, these large-scale demolitions could serve as amazing boosters. But now, this operating method seems to have lost its magic.
110 million SHIBs were reduced to ashes, but the price continued to fall.
On July 8, 2026, the Shiba Inu Coin Community carried out the largest destruction operation in six months. More than 110 million SHIBs were sent to dead wallets and permanently withdrawn from circulation. A wallet associated with Robinhood destroyed 109 million tokens in a single transaction, with the rest completed by small wallets. This large-scale destruction should theoretically support prices, but SHIB still fell 5% on the day and a monthly decline of 9%. At present, the token fluctuates within a narrow range and has never been able to break the deadlock.
The amount destroyed during the week increased to 152 million pieces, a month-on-month increase of 55.77%. But this activity did not convince senior traders. At the same time, the giant whale sold more than 1 trillion SHIBs to the exchange, completely offsetting any positive effect of the destruction.
585 trillion coins: destruction is a drop in the bucket
Since its launch, the Shiba Inu Coin Community has destroyed more than 410 trillion tokens. However, there are still 585.6 trillion SHIBs in circulation in the market. Even if the record rate of destruction on July 8 lasts for a full year, it will only reduce the tip of this huge iceberg. In May 2021, Ethereum co-founder Vitalik Butrin passively received half of the total supply of SHIB and subsequently destroyed 410.24 trillion tokens, worth US$6.7 billion at the time. This single destruction accounted for almost the vast majority of all historical destruction by SHIB.
Therefore, recent community destruction is just a drop in the bucket. Trader James Wayne even claimed that SHIB was \"dead.\" Giant whale continues to reduce its positions, indicating that market confidence is disintegrating. The real problem is not on the supply side, but on the demand side-and demand is rapidly evaporating from the meme coin space.
Meme coin free-fall hits Shiba coin
In the fourth quarter of 2024, meme coin once accounted for more than 10% of the total market value of altcoins. Today, this share has dropped to 3.7%. Dogecoin suffered a large number of retail sales, and the dominance of meme coin hit a two-year low. Capital is fleeing the field, and destruction operations have become difficult to reverse this heavy trend. Meme\'s bull market cycle has historically been driven by renewed retail interest rather than a supply mechanism. Therefore, in the absence of real demand, traders do not reward deflationary tokens.
Analysts believe that the adoption of Shiba Inu Coin Layer 2 blockchain Shibarium will have a greater impact on prices than any destruction. The real battlefield lies elsewhere-in practicality and adoption rates. As long as market interest in meme does not recover, the impact of destruction on prices will be negligible.
A summary of key data:
Record destruction on July 8:110 million SHIBs
Current total circulation: 585.6 trillion SHIBs
Largest destruction in history (Vitalik): 410.24 trillion SHIBs
SHIB price at the time of writing: US$0.00000427
Despite the challenges, Shiba Inu coins still shone at the end of June-with the number of holders reaching a historical milestone of 1.6 million. This proves that community resilience still exists amid market turmoil.
