1,003,000,000 SHIB in Single Hour – What’s Happening?

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As a seasoned researcher with a knack for deciphering the cryptocurrency market trends, I find the recent developments surrounding Shiba Inu (SHIB) particularly intriguing. The massive burn of over one billion SHIB and the subsequent price surge are reminiscent of the phoenix rising from its own ashes.

Based on data from Shiburn, the SHIB community has burned more than one billion Shiba Inu tokens in the last 24 hours, a significant number indeed.

Currently, the Shiba Inu coin’s price appears to be surging past its previous resistance point of $0.00002606, which it encountered on Thursday and failed to break through.

1.2 billion SHIB gone for good

According to the information provided on its site, the data source indicated that over the past 24 hours, the rate at which Shiba Inu tokens (SHIB) were destroyed or removed from circulation spiked an astounding 2,050%. Additionally, a significant number of meme coins, totaling 1,282,587,181 SHIB, were sent to wallets where they can no longer be spent.

As a researcher delving into the world of cryptocurrencies, I can’t help but marvel at an extraordinary event that occurred recently. A mysterious cryptocurrency wallet executed a single transaction, disposing of a staggering 1,003,266,585 Shiba Inu tokens. This transaction stands out in terms of size compared to other notable transfers, which moved 209,312,491, 33,737,678, and 29,282,316 SHIB. It’s worth mentioning that a total of fourteen transactions have been made to dead-end wallets in this context.

🔥🔥🔥 1,003,266,585 -> transferred to dead wallet.

— Shibburn (@shibburn) November 29, 2024

Shytoshi Kusama aims to make SHIB top 5 coin

Through a recent tweet, the enigmatic Shiba Inu meme-based cryptocurrency developer, Shytoshi Kusama, expressed his ambition to propel the largest market capitalization-sized Shiba Inu cryptocurrency (currently second only to Dogecoin) up the CoinMarketCap rankings, aiming to move it from a top 15 position to one of the top 5, all without any specific budget.

Kusama shared a tweet featuring an AI-generated artwork portraying a religious or apocalyptic tableau. The centerpiece is a massive white void, and numerous figures are swirling around it as they appear to be flying. Within this image, there’s a man seated in front of a gigantic desk with a large hole right in the middle. Piled high on the desk are stacks of papers, documents, files, and other materials, creating a scene reminiscent of the chaos depicted within the painting itself.

Shytoshi shared on Twitter that it’s similar to the experience of enhancing the usefulness of a meme coin, pushing it from the top 15 to the top 5 within just 5 years, all while working with a minimal budget.

As a researcher, I’m excited to share that Kusama himself clarified in a tweet response that he was indeed referring to Shiba Inu. He described his previous tweet as an “aspiration” or goal he aims to achieve. Currently, Shiba Inu is holding strong at the 14th spot on CoinMarketCap’s ranking, boasting a staggering capitalization of $15.26 billion. At the moment, each coin is being traded for approximately $0.00002589.

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2024-11-29 14:13