Advertisement
AD

Main navigation

Advertisement

1,003,000,000 SHIB in Single Hour – What’s Happening?

Advertisement
Fri, 29/11/2024 - 10:59
1,003,000,000 SHIB in Single Hour – What’s Happening?
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Advertisement

According to data provided by Shibburn, over the past day, the SHIB community managed to dispose of a mammoth amount of SHIB, which surpassed one billion meme coins.

In the meantime, the SHIB price is breaking out, reaching the $0.00002606 level it was rejected from on Thursday.

Article image
Image via Shibburn

1.2 billion SHIB gone for good

The data source mentioned above revealed on its website that over the last day, the SHIB burn rate has displayed a massive increase of 2,050%, while a staggering amount of meme coins was transferred to an unspendable wallet — 1,282,587,181 SHIB in total.

This tremendous burn was possible thanks to a single transaction performed by an anonymous cryptocurrency wallet as it disposed of 1,003,266,585 Shiba Inu. In terms of transaction size, the other impressive transfers moved 209,312,491; 33,737,678 and 29,282,316 SHIB. There have been 14 transactions to dead-end wallets overall.

Advertisement

Shytoshi Kusama aims to make SHIB top five coin

In a recently issued tweet, the mysterious SHIB lead developer Shytoshi Kusama shared his intention to take Shiba Inu meme-inspired cryptocurrency (the largest one by market capitalization size after Dogecoin at the moment) up the CoinMarketCap scale to boost it to the top 5 from the top 15.

Related

Kusama published a tweet with an AI-generated image depicting a scene in a religious and/or apocalyptic style, with a huge white hole in the middle and numerous people circulating around it as if they are flying. There is also a man in the image sitting in front of that apocalyptic painting at a huge desk with a big hole in the middle of it, with tons of papers and files scattered around it on the desk, showing similar chaos around him as in the painting.

Shytoshi tweeted that this is very close to what it feels like “trying to give utility to a memecoin and take it from top 15 to top 5. In less than 5 years... without a huge budget.”

In a comment to another tweet, Kusama confirmed that he was talking precisely about Shiba Inu, sharing that the aforesaid tweet was “An aspiration. A goal” for him. Currently, Shiba Inu boasts that it sits in 14th place on CoinMarketCap’s scale, with a capitalization of $15.26 billion. The meme coin is changing hands at $0.00002589.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD