As a seasoned crypto investor with a particular interest in meme coins, I’m thrilled to see the Shiba Inu community making waves with their impressive SHIB burn rate. According to recent data from Shibburn, an astonishing 40 million SHIB meme coins have been burned in the last 24 hours, marking a mind-blowing increase of over 2,000%.
Based on information from the Shibburn explorer, the Shiba Inu community has successfully increased the burn rate of SHIB significantly today, eliminating a substantial amount of the meme coin from circulation.
I observed an event unfold following a significant declaration made by a Shiba Inu representative on the platform previously referred to as Twitter.
SHIB burns on fire
Within the past 24 hours, Shibburn announced that the Shiba Inu community has destroyed approximately 40 million SHIB meme tokens. Although this number of tokens burned may not seem substantial, there was a striking increase in the burn rate – an astounding surge of 2,076%.
I’ve witnessed two significant meme cryptocurrency burn events lately. The first one happened 14 hours ago, resulting in the destruction of approximately 20 million SHIB tokens. The second event occurred only two hours ago, with around 1.7 million SHIB being transferred to an unspendable wallet on the blockchain.
On Wednesday, the SHIB burn rise was slightly bigger – 2,211.89%.
SHIB team announces Shibarium updates for 2024-2025
On Wednesdays, Lucie, Shiba Inu‘s marketing head, unveiled a roadmap for Shibarium’s upcoming enhancements. This plan encompassed the SHIB Metaverse, an updated version of Shiba Eternity game, and ShibaSwap DEX with versions 1.75 and subsequently 2.0.
I’ve had the opportunity to learn about some exciting upcoming projects for Shibarium. These include the development of a layer-3 testnet and the introduction of the TREAT token. The layer-3 testnet is designed to support the new blockchain that will operate on top of Shibarium, while the TREAT token will provide the necessary fuel for its functioning.
I’ve observed the SHIB team making significant strides in developing their layer-3 solution lately. They recently secured a substantial investment of $12 million from prominent backers. As for Shytoshi Kusama, the elusive SHIB leader on social media, his frequent moves around X/Twitter app were finally explained. He was spotted in various places such as Dubai, Hong Kong, the Maldives, and multiple US cities including New York.
Shytoshi, the world traveler, disclosed that he had been meeting with investors to present his layer-3 project and secure the necessary $12 million in funding.
SHIB price performance
Although the positive updates about SHIB‘s burn rate, fundraising progress, and upcoming projects are noteworthy, the cryptocurrency’s price performance has been less than ideal lately.
In the last 24 hours, SHIB, the second largest meme cryptocurrency, has experienced a decrease of around 10.39%. Currently, its value is at $0.00002458 per token.
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2024-04-25 15:02