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SHIB Burn Rate Doubles As SHIB Gears Up for Next Big Thing

Wed, 08/02/2023 - 15:30
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Yuri Molchan
The SHIB community continues to burn Shiba Inu at a high pace after Shytoshi Kusama’s recent announcement
SHIB Burn Rate Doubles As SHIB Gears Up for Next Big Thing
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The Shibburn tracking service that watches SHIB “burn transactions” spreads the word on its website that within the last 24 hours, the burn rate of the second largest meme coin has jumped by nearly 190%.

With 56,353,945 Shiba Inu meme coins burned in total, the rate has jumped by 186.75% - this is more than double what the community saw on this site over the past two days.

Over the past hour, these burns have accelerated with more than 16.33 million transferred to dead wallets in four transactions. Before that burn transfers occurred every couple of hours, sometimes twice per hour, though, too.

A chunk of 10,505,695 SHIB remains the largest that has been burned since last morning, per Shibburn.

Image via Shibburn

SHIB adoption expands every year

The official Shiba Inu Twitter account shared a post from the Wirex platform, which reminded the crypto community that it continues to successfully implement SHIB as 5.5 million of its customers have been able to buy goods from 81 million retailers on their platform since last year.

Stating this, Wirex sent birthday greetings to Shiba Inu – the now popular meme cryptocurrency was launched on July 31, 2020.

Shytoshi Kusama Reveals Crucial Partner in SHIB’s Next Phase

Shytoshi Kusama announces “SHIB’s next phase”

As reported by U.Today earlier, the lead of Shiba Inu known to the community as Shytoshi Kusama wrote on social media that after the ETH Toronto conference, SHIB’s next phase is expected.

He did not specify what he meant by this, however, he mentioned that one of Shiba Inu partners, the Bad Idea AI (BAD) project, will have a major role in it.

As for major and long-expected SHIB updates, in two weeks, during the aforementioned conference in Canada, the Shiba Inu team may launch the Layer-2 Shibarium blockchain. Before September, which basically, means in August, several SHIB Metaverse hubs are expected to launch too.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at