As an investor deeply immersed in the meme ecosystem for the long term, I remain cautiously alert about SHIB's recent large-scale burn event. Indeed, 410 trillion SHIB tokens have been permanently destroyed, accounting for 41% of the initial supply, which is a tangible reduction from a supply perspective. But reality hit back quickly—after the burn rate surged by 530%, the token price actually fell by 3%, and open futures contracts shrank by 13.5% simultaneously. This contrast is quite interesting and also reveals a harsh truth: burning is just a means, not a ticket for price skyrocketing.

The key question is: can burning truly create scarcity? Theoretically, it sounds perfect—less tokens → reduced supply → price increase. But the actual situation of SHIB is much more complex. 410 trillion sounds impressive, but there are still 589 trillion tokens in circulation actively trading. It's like scooping a bucket of water from the Pacific Ocean—quite a large action but with little impact on the overall.

More realistically, the community uses data like "burn rate surged by 530%" to create FOMO sentiment, but when you break down the data, the daily burn is only 37.53 million tokens. Compared to the trillion-level supply, this burn has a negligible impact on supply and demand dynamics. A good historical reference is the burn event in 2021—short-term price spike followed by a quick retreat. It proves that isolated burns, without ecological support, often result in only a dim glow.

There's an even more interesting question behind this: who truly dominates the market? Whales or retail investors? This is the key factor that will determine SHIB's future trajectory.