Popular meme coin explorer Shibburn has spread the word about a massive increase in the burn rate of Shiba Inu, the second-largest meme cryptocurrency by market capitalization value.
In the meantime, the SHIB price has demonstrated a significant increase overnight. SHIB grew by almost 6% earlier today. However, the growth was dented by a tiny decline. At press time, Shiba Inu is trading at $0.00002347.
SHIB burns skyrocket by thousands of percent
The above-mentioned source has shared data about a tremendous rise in the SHIB burn rate within the last 24 hours. This worth-watching metric has soared by more than 5,673% since yesterday morning.
This signifies the destruction of 26,430,838 SHIB in total. The largest single burn here constituted 24,176,493 SHIB 22 hours ago, with the second biggest one moving 1,000,000 SHIB meme coins to an unspendable blockchain wallet. In fiat currency, this is evaluated merely at approximately $569.
Thus, the percentage increase of the burn rate has comprised 5,803.56%.
Image via Shibburn
An increase in the burn rate metric close enough to this one was observed only once earlier this week – it was Monday, and Shibburn showed a rise of 4,085%, with 81,649,878 SHIB taken out of circulation on that day.
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Shytoshi Kusama makes epic cryptic statement
A few days ago, the mysterious lead of the Shiba Inu developer team, Shytoshi Kusama, published a cryptic tweet that contained just one word, “evita,” meaning “life” or “a living one” in Spanish, as covered in an earlier U.Today report.
A top software developer of SHIB, Kaal Dhairya, supported Kusama by posting the same message without offering a single comment or explanation for the community about it. The SHIB army went abuzz after this, starting to propose various explanations, including one that assumes the launch of a new token within the Shiba Inu ecosystem coming soon. Neither Kusama nor Dhairya responded to those speculations, though.
Some within the SHIB community believe that the mysterious tweets of Shytoshi and Kaal may refer to the recently performed Shibarium hard fork, a major update that went live last week on the layer-2 blockchain built by the SHIB team.
The hard fork unlocked higher-tier possibilities for Shibarium, such as enhancing the speed of transactions and making gas fees “predictable for everyone.”
