The Shiba Inu community is persistently working on reducing the number of meme coins within the current Shiba Inu circulation. As reported by the Shibburn monitoring system, there’s been a significant drop in the SHIB burn rate over the past day.
The Shibari (SHIB) market trends have reflected those of the current market, pushing this meme-driven cryptocurrency into the negative territory as indicated by its chart.
SHIB burns deep in red
According to the latest information on Shibburn’s website, due to consistent work by the SHIB community, an additional 8,738,201 meme coins were burned and rendered unusable, being locked away in unspendable blockchain addresses since this morning.
On the other hand, the burn rate that is closely monitored by members of the SHIB community, has dropped by over 72%, which means it’s now significantly below average, or even negative.
Despite some fluctuations, the weekly Shiba Inu (SHIB) burn rate looks quite promising, with a total of 102,867,453 SHIB being sent to inactive wallets over the last seven days. Notably, this burn metric has experienced a significant surge of approximately 164.53%.
2025 is underway with relatively low daily burn rates thus far. Notably, on multiple occasions in the last nine days, the burn rate for SHIB has surged as high as 1000% and 2000%, based on information from Shibburn.
This week, the Shiba Inu coin’s price dropped by approximately 3.35%, making it a total fall of around 13% over the past few days.
SHIB lead Kusama responds to former Binance CEO CZ
The enigmatic SHIB developer recognized within the community as Shytoshi Kusama referenced a recent update by Changpeng Zhao (CZ), a co-founder and ex-CEO of Binance, in response to his post.
In contrast to CZ’s viewpoint on developing solutions based on the known requirements of the community, Kusama advocates for creating solutions that address future needs, even if those needs are not yet recognized by the community.
Essentially, CZ, create solutions ahead of recognized demand. If not, you might find yourself constructing when there’s a genuine need and the situation could change. The adoption process becomes organic as the conversation evolves around what you’ve already established. Fortunately, that is precisely what we have accomplished. Behold!
— Shytoshi Kusama™ (@ShytoshiKusama) January 8, 2025
Shytoshi contends that the requirements of individuals can evolve, leading to potential changes in circumstances. As highlighted by CZ, adoption is the crucial factor that holds significance, and based on Kusama’s perspective, this focus on adoption inevitably steers conversations toward the accomplishments that teams have already achieved.
As a fellow crypto enthusiast, I’m thrilled to say that our strategy has proven fruitful. I extend an invitation to you, CZ, to observe the dynamic shifts unfolding with SHIB and Shibarium.
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2025-01-09 12:49