SHIB Soars by Huge 15,654% in Crucial Metric as Price Surge Fails

SHIB Soars by Huge 15,654% in Crucial Metric as Price Surge Fails

Shibburn shared recent data showing staggering growth in one of SHIB’s key metrics: burn rate. Since last night, it has suddenly skyrocketed.

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Shibburn shared recent data showing staggering growth in one of SHIB’s key metrics: burn rate. Since last night, it has suddenly skyrocketed.

Meanwhile, an executive from the SHIB team shared her opinion on the possible launch of SHIB ETF in the future. Meanwhile, SHIB has failed to recover after a recent price drop.

Shib burn rate soars

The aforementioned platform, Shibburn, tracks SHIB transactions made in dead-end wallets on Etherscan and then aggregates them on its own website for the Shiba Inu community.

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After the latest update, the website showed that over the past 24 hours, the SHIB army managed to increase the SHIB burning rate by a whopping 15,654%. Still, there is a problem here, as the number of meme coins that have been transferred to unusable blockchain wallets amounts to only 1,752,654 SHIB.

Shibburn rate soars
Image via Twitter/X

It took five transactions to remove this many meme coins from the circulating supply. The largest one carried 1,031,814 SHIB to a “hell” wallet. The second largest moved 449,369 SHIB to the same destination to be locked there forever.

Related

Mon, 06/10/2024 – 11:31
Critical SHIB Warning for Fudders Issued by Team Shiba Inu

Is BlackRock’s SHIB ETF Likely?

The official social media marketing lead of the SHIB team, Lucie, has published a post on the popular X platform to share her opinion on the prospects of a SHIB-based exchange-traded fund (ETF) emerging in the near future.

In her tweet, Lucie suggested that for a SHIB-based spot or futures ETF to be launched, financial institutions need to understand “how important SHIB is to people and their future finances.” In particular, the marketing leader mentioned BlackRock (tagging it in her tweet), sharing the hope that this leading investment giant will gradually understand “the magic and power of SHIB” and suggested that the community watch them to “see how visionary they are.” “.

However, Lucie stressed that for the SHIB team the most important thing so far is “growing and sticking to our initial vision.” She explained that they intend to “build something meaningful,” admitting that it “may not be entirely original” but will be “significant for the future of decentralized finance.” Lucie added: “It’s for the people and for freedom of choice. “It doesn’t matter who you are, from the housekeeping staff to senior management.”

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