As a seasoned crypto investor with a knack for spotting trends and a soft spot for meme coins, I must say that the recent surge in Shiba Inu (SHIB) has caught my attention like never before. With Bitcoin recovering and the broader market turning green, it’s not surprising to see altcoins like SHIB skyrocketing.
As a researcher, I’ve observed an intriguing trend based on the data presented by Shibburn. The Shiba Inu community has managed to significantly escalate the burn rate, reaching unprecedented heights. Simultaneously, the price of SHIB has experienced a colossal surge.
With Bitcoin, the world’s biggest cryptocurrency, on the mend, there’s a surge of green across the broader market, and Shiba Inu is experiencing an incredible upward trajectory.
SHIB burns rising high
As a researcher delving into the world of cryptocurrencies, I’ve recently noticed an extraordinary surge in the SHIB burn rate, which began this morning and increased by over 708%. While this rise is indeed remarkable, it’s essential to note that the total number of meme coins burned so far remains relatively low, with only approximately 2,760,121 SHIB being destroyed.
Almost the entire amount of Shiba Inu (SHIB) tokens was sent to irreversible wallets on the blockchain in one transaction, totaling 2,000,000 SHIB. Meanwhile, the second largest transfer moved 500,000 SHIB to an inactive wallet.
Shiba Inu price skyrockets
Over the past day, the second-most trending cryptocurrency based on memes, SHIB, has experienced a significant surge, climbing up by 25.88%. It began at $0.00001107 and has since escalated to reach a new level of $0.00001393.
After a seven-day slide that saw the meme-based cryptocurrency plummet by 36% and reach an all-time low of $0.00001726, it has surprisingly rebounded significantly. Now, nearly all of the massive loss in price has been recovered, with the coin experiencing a sudden spike that brought its value back up.
SHIB lead Kusama issues “Mask off” tweet
On Sunday, the enigmatic leader of the SHIB group, who goes by the name Shytoshi Kusama in the global community, shared a tweet that had the Shiba Inu community buzzing with anticipation. In this tweet, he referred to the SHIB community as the “SHIB army,” and said simply, “Unmasked.”
The tweet showcased a Shiba Inu dog riding shotgun in a vehicle, with the window rolled down. Interestingly, this tweet was actually a re-post from the Huobi cryptocurrency exchange, symbolizing the start of “Dog Month” nationwide.
Several commentators appeared to believe that Shytoshi Kusama’s recent public appearances were being referenced. Kusama, known for attending significant blockchain events globally – in Japan, India, and the UAE – often donned two masks to conceal his identity. During his visits to India and the UAE, he was accompanied by the leading SHIB developer, Kaal Dhairya, who similarly wore a mask.
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2024-08-06 11:10