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SHIB Burns 502% Up After 15% Weekly Price Surge

Sat, 06/24/2023 - 10:54
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Yuri Molchan
Shiba Inu burn rate jumps following recent sustainable price increase
SHIB Burns 502% Up After 15% Weekly Price Surge
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Shibburn explorer spreads the word about the SHIB burn rate rising again this week. The SHIB army keeps sending large stashes that contain millions of Shiba Inu to dead-end wallets to lock them up there.

As of now, nearly 20 million SHIB have been removed from circulation. In the meantime, the SHIB price continues to climb, rising roughly 15% over the past week.

Burns jump 502%

The Shibburn website shows a rise in the burn rate by 502%, whereas a comprised 18,929,196 SHIB tokens have been locked in unspendable wallets.

The latest burn transaction was conducted five hours ago and it has been the largest one so far, moving 15,884,928 SHIB out of circulation.

Image via Shibburn

Two days ago, U.Today reported that the burn rate soared by nearly 7,000% with 252,873,213 SHIB and 84,405,747 SHIB burned in single moves, 341,504,230 SHIB were destroyed in total.

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Shibarium release again promised "very soon"

In a recent message from the pseudonymous lead developer of SHIB Shytoshi Kusama, he addressed the question that has again become a popular one, "wen Shibarium?" "Very soon," he responded in his traditional manner.

In a recent blog post, the SHIB leader announced that the developer team plans to release the "Worldpaper" for Shiba Inu. It will explain the concept of SHIB and Shibarium to the wide global community and include the description of various tokens (not limited to just SHIB, LEASH, BONE, SHI), DeFi platforms and many other products and services.

Kusama also spread the word about Shibcals, a firm that is making a "real world implementation" of SHIB in the form of SHIB-themed hoodies, other clothing and merchandise.

Kusama also several times mentioned that once Shibarium is up and running, he will step away, since his position will no longer be necessary for the community. This statement sparked heated discussions and debates on crypto Twitter and in the official Shibarium Telegram channel.

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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