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SHIB Burn Rate Rises 100% as Lead SHIB Dev Tweets "I Can Double Down Now"

Fri, 11/18/2022 - 15:03
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Yuri Molchan
Shib army has slightly increased amounts of burned meme coins, this might be reason for it
SHIB Burn Rate Rises 100% as Lead SHIB Dev Tweets "I Can Double Down Now"
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As reported by Shibburn Twitter handle, over the past 24 hours, the SHIB burn rate has gone 100% higher than on Thursday, Nov. 17.

However, the overall amount of SHIB removed from circulation this time remains low – merely 2,445,366 tokens – a rise of two times from the previous day.

Four days ago, the burn rate shot up by an astounding 1,064% with a total of 23,823,149 SHIB. However, SHIB lumps like these have been the maximum for SHIB burning initiatives as of late.

Image via Shibburn

SHIB Sets New Record in This Metric, Price Weighs Next Move

On Thursday, the lead SHIB developer Shytoshi Kusama shared some mysterious news, saying that "the initial design has been approved," adding that now he can "double down."

Many users in the comments believed he was talking about the much-awaited Shibarium upgrade.

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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