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SHIB Burn Rate up Almost 408% as New Metaverse Hub Presented to Community

Fri, 09/16/2022 - 09:49
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Yuri Molchan
Shiba Inu community continues to burn its meme tokens, while Metaverse developers keep building
SHIB Burn Rate up Almost 408% as New Metaverse Hub Presented to Community
Cover image via stock.adobe.com

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The SHIB burn rate has increased by nearly 408% in the past 24 hours as, this time, more than 3x more SHIB was destroyed than in the past two days.

In the meantime, the concept artwork of a new SHIB Metaverse hub has been revealed in color to the community.

165 million SHIB burned with destruction rate soaring 408%

According to recently shared data on the website of the Shibburn tracker of transactions that move SHIB to dead-end wallets, over the past 24 hours, the speed with which SHIB meme coins have been sent to "inferno" wallets and "burned" has seen a major increase by 407.47%.

Since yesterday morning, a total of 165,822,242 Shiba Inu has been locked in unspendable wallets — this is what the term "crypto burn" implies. Compared to the previous two days, this is a roughly 3x rise, as on Sept. 14, the community burned only 17,111,864 SHIB, and on Sept. 15 this figure increased to 33,985,285 SHIB.

On Sept. 13, though, the amount of SHIB tokens removed from circulation totaled 145,707,702 — close to what has been burned during the past 24 hours.

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Image via Shibburn

Burning "trillions of SHIB"

Earlier this week, the Shibburn team spread the word about launching a special mobile phone app for its Shibburn Radio project. The app will help to burn "tens of billions if not trillions of SHIB," according to one of the tweets in the thread.

The app is called Alexa Skill, the message said, reminding users that the "main app" for Shibburn is also on track to be released.

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New SHIB Metaverse hub presented in color

The official Twitter account of Shiba Inu token has announced that the SHIB Metaverse team, together with THE THIRD FLOOR studio, had unveiled the concept artwork of a new Metaverse hub called Rocket Pond. This time, it has been done in color, while earlier this week the concept artwork in black and white was presented.

Rockets in crypto are symbols of an overflow of energy for a coin and an ability to reach new highs, to "go through the roof" and "to the moon."

Prior to that, a colored sketch of another hub was revealed to the SHIB army — the WAGMI Temple. Hubs are pieces of virtual land in the SHIB Metaverse that are of the highest value and are locked or reserved to be sold at a high price.

Overall, the Metaverse will contain nearly 100,600 plots of virtual land, 36,431 of them will be unlocked during the presentation. The others will be reserved. More than 19,000 pieces of land have been acquired by now.

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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 yuri.molchan@u.today.