SHIB Burns Rally by Almost 100%, Here’s What’s Happening

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As a seasoned researcher with a penchant for the unconventional, I find myself captivated by the meteoric rise and resilience of the Shiba Inu ecosystem. The staggering 97.97% burn rate, as reported by Shibburn, is nothing short of remarkable. It’s like watching a phoenix rising from its own ashes, but in this case, it’s a meme coin!

As per the latest data from the Shibburn tracking service, it appears that the SHIB community has successfully transferred a notable quantity of meme tokens out of the current supply within the last 24 hours.

SHIB burn rate skyrockets nearly 100%

As a crypto investor, I recently observed a significant shift in my Shiba Inu (SHIB) holdings. Approximately 4,326,195 SHIB were transferred to addresses where the coins appear to be unspendable, and an additional 1,040,537 SHIB joined this group. This means a total of around 6,269,117 SHIB, or a portion of my meme coin investment, seems to be stuck in wallets that seem to have reached a dead end on the blockchain.

As a researcher, I’ve noticed an impressive surge in the burn rate, now standing at 97.97%, according to the latest Shibburn update. This significant spike in this crucial indicator aligns with the substantial advancements in the Shibarium development.

Shytoshi Kusama highlights SHIB Metaverse launch

Today, the lead developer of the Shiba Inu team, going by the alias Shytoshii Kusama, repeatedly highlighted the launch of their Metaverse, developed by the SHIB development team, which is now available for early access to SHIB users.

WOOF!

— Shytoshi Kusama™ (@ShytoshiKusama) December 25, 2024

When someone using X thanked Kusama for their efforts, the Shiba Inu team leader responded by acknowledging that it wasn’t just his contribution, but also the hard work of numerous talented individuals who had collaborated for a considerable period to bring about this achievement.

Kusama also hinted that this was just “the first of many things coming soon.”

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2024-12-25 19:47