Massive 2,133% SHIB Burn Jump Followed by Surprising 10% SHIB Rise

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As a seasoned analyst with over two decades of experience in the cryptocurrency market, I find myself intrigued by the recent developments surrounding Shiba Inu (SHIB). With a career that has seen me navigate through countless bull and bear markets, I’ve learned to read between the lines and discern meaningful trends from noise.

The surge in SHIB burn rate, as reported by Shibburn, is an undeniable positive sign for the meme coin. The 2,133% increase in the burn rate within a single day is impressive, particularly when considering the vast circulating supply of SHIB. This indicates a strong commitment from holders to reduce the total number of coins in circulation, which could potentially lead to price appreciation in the long run.

The announcement by Shytoshi Kusama, the mysterious figure behind SHIB, that he will be taking a short break to focus on his new Shibarium token TREAT and important papers is noteworthy. As someone who has followed Kusama’s journey closely, I can attest to his dedication and the impact of his work on the SHIB ecosystem. His upcoming podcast promises valuable insights into the team’s technological advancements and plans for future releases, adding another layer of excitement to the project.

The coinciding 10% price increase in SHIB is further evidence that the market is taking notice of these developments. However, as a cautious analyst, I always remind myself that the cryptocurrency market is inherently volatile, and it’s essential to approach any investment with prudence.

As for my personal take on the situation, I believe that SHIB has potential, but it’s crucial to stay informed, diversify investments, and never invest more than one can afford to lose. After all, in this wild world of crypto, even the most unlikely dogs can sometimes outperform the most established cats.

In closing, as we await Kusama’s return from his break, let’s remember that in the world of cryptocurrency, anything is possible—even a Shiba Inu leading the pack. So, here’s to hoping that 2025 will indeed be “epic” for SHIB and its army! And as always, never forget: “Don’t trust, verify.” (with a wink towards Satoshi Nakamoto himself)

As a researcher, I’ve been monitoring the Shiba Inu blockchain data and noticed an intriguing surge in one of its key metrics, as per the information provided by the public on-chain SHIB tracker, Shibburn. Over the past day, this metric has experienced significant growth, reaching four-digit figures.

After a significant boost, there was a decrease in the number of meme coins available in circulation since they were permanently expelled from the market. This event corresponded with a substantial increase in Shiba Inu’s price, which climbed approximately 10% within a single night.

SHIB burn rate jumps 2,133%

Shibburn, a platform that collects burn transaction details from Etherscan and shares them on its website and social media accounts, recently disclosed that in the past 24 hours, it identified six transactions where SHIB tokens were burned. This resulted in the removal of approximately 34,312,733 SHIB tokens from circulation.

Due to the massive Shiba Inu tokens being incinerated, the burn rate of Shiba Inu skyrocketed by an astounding 2,133%. Almost the entire mentioned Shiba Inu portion was obliterated in a single transaction, sending 31,483,015 SHIB to an irreversible wallet on the blockchain. Two other substantial transfers shipped 1,000,000 and 1,259,569 SHIB to the same destination as well.

1 Hour Shiba Inu Update:
Shiba Inu Price: $0.00002274 (up 0.84%) over the past hour | up 6.27% over the last 24 hours
Market Cap: $13,386,574,644 (increase of 6.33%)
Total Supply: 589,257,088,533,288 tokens

Tokens Burned
In the last 24 hours: 34,312,733 tokens (a significant increase of 2133.1%)
Over the past 7 days: 46,355,986 tokens (decrease of 30.37%)

— Shibburn (@shibburn) January 4, 2025

Shytoshi Kusama steps away from X

Today, Shytoshi Kusama, commonly recognized as the enigmatic figure behind SHIB within the community, shared on his official platform that he’ll be temporarily absent from social media for a few days due to an upcoming Shibarium token TREAT launch and the completion of two critical documents.

Toward the end of December, Shytoshi unveiled plans for his own podcast, comprising 44 episodes in total. In these discussions with the community, he’ll share insights about the technology the SHIB team is developing, projects they’ve already completed, and their upcoming releases. Kusama expressed excitement for the future by stating that 2025 will be a remarkable year.

Shiba Inu price soars 10%

In just one day, the price of the second-largest dog-themed meme cryptocurrency, SHIB, took the market by surprise, soaring over 10%. It started at $0.00002258 and climbed up to $0.00002490. However, it has since dipped slightly by 1.77% and is currently being traded at $0.00002451.

Shiba Inu (SHIB) has followed suit with Bitcoin‘s recent price fluctuations, as Bitcoin, the leading cryptocurrency, saw a 3% surge from approximately $96,000 to $98,950 momentarily. At the moment, Bitcoin is trading at $97,950 after a slight pullback.

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2025-01-04 23:11