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According to data shared by the Shibburn explorer, the Shiba Inu community has managed to take the SHIB burn rate high today, disposing of a large meme coin lump.
This took place after a Shiba Inu representative made an important announcement on X (formerly known as Twitter).
SHIB burns on fire
Shibburn has spread the word that within the last 24 hours, the Shiba Inu army has disposed of 40,067,872 SHIB meme coins. While the amount of meme tokens burned is not mind-blowing, the rise in the burn rate was significant – a whopping 2,076%.
The largest meme cryptocurrency burn took place 14 hours ago, destroying 20,000,000 SHIB. The second biggest one occurred two hours ago as 1,693,629 SHIB were moved to an unspendable blockchain wallet.
On Wednesday, the SHIB burn rise was slightly bigger – 2,211.89%.
SHIB team announces Shibarium updates for 2024-2025
On Wednesday, Shiba Inu’s marketing lead, Lucie, shared a list of the upgrades that will be launched on Shibarium this year and in 2025. This list included the SHIB Metaverse, another iteration of the Shiba Eternity game and ShibaSwap DEX 1.75 (and then version 2.0 to follow).
Among the planned new projects to roll out on Shibarium are also the layer-3 testnet and the TREAT token, which will power the new blockchain that will run on top of Shibarium.
To start building the layer-3 solution, the SHIB team recently raised a massive $12 million from major investors. The enigmatic SHIB lead known on social media as Shytoshi Kusama recently revealed why he had been changing locations on the X/Twitter app frequently over the past few months. He was noticed in Dubai, Hong Kong, the Maldives and various U.S. cities, including New York.
Globetrotter Shytoshi revealed that he had been moving around to pitch the layer-3 project to investors and raise the aforementioned $12 million from them.
SHIB price performance
Despite the good news on the burn rate, successful fundraising and the upcoming developments, meme coin SHIB has not been doing so well in terms of price.
Over the past 24 hours, the second largest meme cryptocurrency has lost approximately 10.39%. At the time of this writing, SHIB is changing hands at $0.00002458.
Vladislav Sopov
