Based on information from the Shibburn group in the last 24 hours, an enormous quantity of SHIB meme tokens has been moved to “inferno” wallets, permanently removing them from circulation and preventing any future use or retrieval.
During this time, the SHIB price has bounced back following its decline the previous day. Notably, the enigmatic figure behind SHIB, Shytoshi Kusama, has posted an upbeat tweet for the holidays.
SHIB burns jump to flabbergasting high
Since this morning, the data source mentioned earlier reports that approximately 87 million SHIB tokens have been moved by the dedicated SHIB community, consisting of both individual supporters and corporate entities, to wallets where they can no longer be spent on the blockchain.
The two recent burn transactions have significantly boosted the SHIB burn rate by an astonishing 48,554.74%. These transactions transferred large amounts of SHIB tokens, with one moving 61,908,927 coins and the other transferring 25,852,066 coins, to non-recoverable addresses. The transfers occurred around 17 and 18 hours ago.
This week, the SHIB community managed to increase the burn rate to a remarkable level. Specifically on April 9th, there was a staggering 1,344% increase in the burn rate. During this time, a large number of SHIB tokens were permanently removed from circulation – a total of 135,451,536 tokens.
Shytoshi Kusama “working like a dog”
Shytoshi Kusama, the anonymous head developer of Shiba Inu, broke his lengthy social media silence on X platform to speak with the SHIB community.
Kusama shared that he’s been working diligently and almost forgot to extend season’s greetings to the extensive SHIB community residing in various parts of the world. He expressed his wishes for a joyful Easter celebration for those observing it, including Passover for Jews, Eid for Muslims, and Gudi Padwa/Ugadi for Hindus.
Bark! It’s great to see you in Dubai. By the way, I’ve been working tirelessly and haven’t had much to say, but I want to wish you all a joyous holiday season! (Easter, Passover, Eid, and Gudhi Padwa/Ugadi) Happy celebrations!
— Shytoshi Kusama™ (@ShytoshiKusama) April 10, 2024
Additionally, Kusama extends an invitation to SHIB community members and developers to join them at the Blockchain Life Forum in Dubai on April 16. Feel free to meet with SHIB representatives there.
Shiba Inu price action
This week, SHIB, the second largest meme cryptocurrency, has been making efforts to surpass the $0.00002950 mark but has only succeeded in reaching it on two occasions without successfully closing above it. There was a significant decrease of around 10.5% for this asset between Tuesday and Wednesday.
In the past day, SHIB has recouped about half of its losses, increasing by 5.85% to trade at a price of $0.00002801 as I write this.
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2024-04-11 10:45