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.
Shibburn blockchain data aggregator spread the word about a massive five-digit increase in the burn rate over the past day.
Meanwhile, popular meme-inspired asset SHIB surged by almost 10% but then failed to hold at that briefly taken height.
Vladislav SopovSHIB burns spike 49,552%
Over the past 24 hours, the Shiba Inu community has managed to fuel an immense increase in the daily burn rate as this metric rose by 49,552, according to the Shibburn website. Still, the number of meme coins that were burned at virtual stake constituted only 13,290,880 SHIB.
That result was achieved in four burn transactions, the largest of which carried 12,131,978 SHIB meme coins to an unspendable blockchain wallet.
On Friday, the same source shared that the SHIB community had driven the burn rate a staggering 27,660% up. However, back on that day, the number of burned meme coins was much bigger and constituted slightly more than half a billion: 503,305,764 SHIB.
The majority of that batch – 459,294,504 SHIB – was torched in a single transfer by an anonymous cryptocurrency whale. In the past, such large burns were made by the SHIB team; however, there is no information on social media or on-chain data to prove if that was true has not emerged yet.
Yuri MolchanSHIB lead Kusama disappears from X app
The mysterious SHIB leader known under the alias Shytoshi Kusama has not published a single post over the past three weeks. Since issuing his last X post on Feb. 21, Kusama has made just a few retweets but since March 7 he has been completely silent, neither posting nor retweeting anything for the SHIB community.
Many SHIB enthusiasts on the X platform have begun wondering where Kusama might be since, when he was away from socials last year, the community could at least watch his movements around the world thanks to the change of his geolocation status on his X handle.
This time, however, there has not been a single geolocation status change. However, the head of marketing at SHIB, Lucie, defended Shytoshi’s absence, claiming that Kusama is doing “exactly what he announced he would,” which apparently means he could be busy raising awareness about Shiba Inu around the world for investors and expanding the global SHIB community.
Last year, Kusama announced he had raised $12 million for the development of the layer-3 solution on Shibarium.
Vladislav Sopov
Dan Burgin