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Billions of Shiba Inu Burned in June as Shytoshi Kusama Hints at Shibarium Launch Location

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Sat, 1/07/2023 - 9:07
Billions of Shiba Inu Burned in June as Shytoshi Kusama Hints at Shibarium Launch Location
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According to a recent tweet by Shibburn explorer, last month, the Shiba Inu community transferred a total of 1,653,845,435 SHIB meme coins to dead-end wallets.

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If the amount of SHIB burned over the past month looks more or less substantial, daily burns are still going up and down, often dropping deep below the zero level and drowning in the red.

On June 30, the burn rate of Shiba Inu showed a 1,800% surge when 50,258,924 SHIB were locked in unspendable wallet addresses. However, the daily rise in SHIB burns has been only noticed a couple of times this week.

In June, the lead developer Shytoshi Kusama posted a few cryptic tweets that may have inspired the SHIB community to start burning more of those meme coins. Those were tweets about "Something physical coming" and "SHIB going somewhere."

The former is to do with a new partnership of SHIB with Shibcals, a team that transfers SHIB "into the physical world" and produces SHIB-themed clothing, merch, goods and other things that can actually be touched, not just seen on a computer/smartphone screen.

The second tweet and a Telegram message of Kusama posted in the "Shibarium Tech" channel stated that SHIB was "going somewhere." Kusama then specified that this "somewhere" was "outside the USA."

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Some believe that the SHIB team is going to head for Canada soon to participate in the ETHToronto conference. This would be paying homage to Vitalik Buterin (Shiba Inu was initially launched on the Ethereum chain), and perhaps the launch of the Layer-2 solution Shibarium will also be conducted there in Canada.

As reported by U.Today yesterday, Kusama posted in Telegram that he "can't change the date or plan," "everything is already set," he added, "it's called a launch strategy."

The testnet of Shibarium was launched on March 11, and since then it has reached many significant utility milestones. As of now, there are 17,019,690 linked wallets and 25,955,919 transactions conducted in total, according to Puppyscan.

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