Massive 2,133% SHIB Burn Jump Followed by Surprising 10% SHIB Rise
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According to data provided by the public on-chain SHIB tracker Shibburn, during the past day, one of the key Shiba Inu metrics has spiked, showing four-digit growth.
This increase was followed by the removal of a substantial amount of meme coins as they got permanently pushed out of the circulating supply. This coincided with a large SHIB price upward movement as it surged by roughly 10% overnight.
Yuri MolchanSHIB burn rate jumps 2,133%
Shibburn, which gains burn transaction data on Etherscan and then brings it for the SHIB army on its website and X account, has revealed that during the last 24 hours, it has spotted six burn transactions, which made it possible to remove a total of 34,312,733 SHIB from circulation.
Thanks to burning that large SHIB amount, the Shiba Inu burn rate metric surged by an impressive 2,133%. Nearly all of the aforementioned SHIB chunk was destroyed in a single transfer, which carried 31,483,015 SHIB to an unspendable blockchain wallet. Two other large transfers moved 1,000,000 and 1,259,569 SHIB to the same destination.
Shytoshi Kusama steps away from X
Today, the mysterious SHIB lead widely known throughout the community as Shytoshi Kusama, took to his official X account to let the SHIB army know that he intends to disappear from social media for a few days since he has a new Shibarium token TREAT to launch and “2 extremely important papers to complete.”
During the last days of December, Shytoshi announced the launch of his personal podcast, which will consist of 44 episodes, where he will talk to the community about the tech stuff the SHIB team is building, what has been launched already and what they plan to release soon. Kusama also tweeted that 2025 will be “epic.”
Shiba Inu price soars 10%
Over the past day, the price of the second largest canine-themed meme coin SHIB has surprised the market by jumping more than 10%. SHIB rapidly went up from $0.00002258 and managed to reach the $0.00002490 level. By now, the meme coin has rolled back by 1.77% and is changing hands at $0.00002451.
SHIB has mirrored the recent price action demonstrated by Bitcoin as the world’s largest cryptocurrency spiked by 3%, rising from $96,000 to the $98,950 level briefly. Currently, BTC is trading at $97,950 after a marginal retrace.
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.
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