SHIB Soars 436% in Burn Rate As Shytoshi Kusama Makes Epic Statement

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As an analyst with a background spanning over two decades in the financial markets, I find myself continually intrigued by the dynamics of cryptocurrencies, particularly meme coins like Shiba Inu (SHIB). The recent surge in SHIB burn rate and the epic growth percentage shared by its lead developer, Shytoshi Kusama, have caught my attention.

Shibburn recently released an update about the current burn rate of the popular Shiba Inu meme token, providing information gathered since this morning.

During the flow of events, the mysterious Shiba Inu owner Shytoshi Kusama took to Twitter with a grand statement regarding the significant rise in SHIB’s value since it hit its record low back on September 1 four years prior.

SHIB burns surge by 436%

The previously mentioned data source announced that there was an enormous boost of 436.15% in the daily burn rate within the last 24 hours.

The significant event transpired due to six substantial transactions. The two biggest among them moved 38,126,361 and 12,248,273 SHIB tokens into non-spendable blockchain locations. In all, 52,341,966 SHIB tokens were destroyed.

On Tuesday, there was a significant surge in Shiba Inu coin burning, reaching an impressive increase of over 305%. A total of 39,593,693 meme coins were transferred to wallets that no longer receive transactions (dead-end wallets).

Over the weekend, the most significant surge in burn rate occurred, reaching an astonishing 65,529.67% increase. However, the number of Shiba Inu coins burned was relatively small, totaling just 2,652,095 coins.

Shytoshi Kusama delivers epic SHIB growth tweet

The pseudonymous lead developer of Shiba Inu, known to the crypto community as Shytoshi Kusama, published a tweet in which he shared an epic percentage price growth of SHIB since September 1, 2020, when the meme coin dropped to an all-time low.

In response to the tweet asserting that Bitcoin outshone significant assets like Tesla, Apple, Amazon, S&P 500, and leading tech indexes over the past decade as the top-performing asset, Kusama offered a comment.

Over the last four years, I’ve observed an extraordinary price surge for Shiba Inu, reaching a staggering growth of approximately 33,774,726.7%. Compared to this, other notable cryptocurrencies like Dogecoin – the original meme coin – has seen a rise of about 202,583%, Solana (SOL) has experienced an increase of around 35,715.8%, and Binance Coin (BNB) has managed to climb an impressive 1,521,482.8%.

Kusama stated that there’s a lot more progress and effort required by the SHIB team before the crypto community fully acknowledges and values the SHIB ecosystem as it should be.

Over the last day, the Shiba Inu coin’s value dropped approximately 5%, following its significant 14.66% increase earlier in the week.

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2024-10-30 12:17