As a seasoned crypto investor who has witnessed the volatile and fast-paced world of digital currencies for several years now, I find myself intrigued by the latest developments surrounding Shiba Inu (SHIB). The sudden surge in burn rate, as reported by Shibburn, is undeniably captivating, with a whopping 7,400% increase in burned coins overnight. This could potentially signal a shift in market sentiment towards SHIB and might have significant implications for the coin’s future.
Shibburn, the crypto wallet tracking platform, announces a significant rise in one of Shiba Inu‘s essential metrics. Over the past night, the burn rate experienced a substantial increase of over four digits, resulting in the destruction of several million Shiba Inu meme coins.
As a researcher, I’ve come across information indicating that the Shibarium team has hinted at an imminent release of a significant Web3 upgrade for one of their primary products. This update is predicted to drop this week.
SHIB burns skyrocket by almost 7,400%
Based on Shibburn’s report, the Shiba Inu community managed to increase the burn rate by an impressive 7,334% after having incinerated approximately 2.38 million SHIB tokens.
Five burn transactions have been identified so far, resulting in the removal of 1 million and 897,397 SHIB tokens from circulation, which represent the largest transfers among them.
Through the process of incinerating tokens, the available number of SHIB in circulation is diminishing over time. Currently, out of the original one-quadrillion supply, about 583.41 quadrillion SHIB remain circulating. Approximately 410.73 quadrillion SHIB have been eradicated from existence so far. The vast majority of these coins, around 410 trillion, were eliminated in a massive transaction by Ethereum co-founder Vitalik Buterin in May 2021. Following the request of the mysterious Shiba Inu project founder, Ryoshi, Buterin received half of the Shiba Inu tokens.
The price of Shiba Inu seldom fluctuates significantly due to SHIB burns, regardless of how much coin gets destroyed. Recently, the coin dipped by 3.33% and then saw a minor increase of 1.21%. At present, the meme cryptocurrency is valued at $0.00001680 per token.
SHIB game upgrade to land this week
On Monday, it was disclosed by Lucie, the marketing lead for SHIB, via her X account that a fresh Web3 iteration of the widely-appreciated mobile game Shiba Eternity is anticipated to debut on the Shibarium network this week. The “this week” timeframe she referred to originates from an Angel developer within the Shiba Games team.
1. To experience the latest version of the game, players must commit LEASH tokens, as this provides them with a unique and exclusive entry into the game, aligning them with the esteemed ShibArmy group. Following its launch, users will be obligated to possess at least one Shiboshi, Sheboshi, or Shiba Eternity Lore non-fungible token (NFT) to gain access to it.
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2024-07-30 11:11