Popular meme coin explorer Shibburn has spread the word about a massive increase in the burn rate of Shiba Inu, the second largest meme cryptocurrency by market capitalization value.
Popular meme coin explorer Shibburn has spread the word about a massive increase in the burn rate of Shiba Inu, the second largest meme cryptocurrency by market capitalization value.
Meanwhile, SHIB price has shown a significant increase overnight. SHIB grew by almost 6% today. However, growth was hit by a small drop. At press time, Shiba Inu is trading at $0.00002347.
SHIB fires soar by thousands of percent
The source mentioned above has shared data about a tremendous increase in the SHIB burning rate in the last 24 hours. This watchable metric has skyrocketed more than 5,673% since last night.
This means the destruction of 26,430,838 SHIB in total. The largest burn here constituted 24,176,493 SHIB 22 hours ago and the second largest moved 1,000,000 SHIB meme coins to a non-fungible blockchain wallet. In fiat currency, this is simply valued at approximately $569.
Thus, the percentage increase in the burning rate has been 5,803.56%.
An increase in the burn rate metric close enough to this was observed only once earlier this week: it was on Monday and Shibburn showed a 4,085% increase with 81,649,878 SHIBs withdrawn from circulation that day.
Shytoshi Kusama makes a cryptic and epic statement
A few days ago, the mysterious leader of the Shiba Inu developer team, Shytoshi Kusama, posted a cryptic tweet containing only one word “evita,” which means “life” or “alive” in Spanish, as reported in a previous report. from Guru-Investing .
A top SHIB software developer, Kaal Dhairya, supported Kusama by posting the same message without offering a single comment or explanation to the community about it. The SHIB army became enraged after this and began proposing various explanations, including one that involves the launch of a new token within the Shiba Inu ecosystem soon. However, neither Kusama nor Dhairya responded to these speculations.
Some within the SHIB community believe that Shytoshi and Kaal’s mysterious tweets may refer to the recently conducted Shibarium hard fork, a major update that was released last week to the layer 2 blockchain built by the SHIB team.
The hard fork opened up higher-level possibilities for Shibarium, such as improving transaction speed and making gas fees “predictable for everyone.”
