SHIB Burns Skyrocket 104%, Here's Surprising Twist

In a tweet published earlier today, the Shibburn platform revealed that over the past day, the SHIB community managed to dispose of a substantial amount of meme coins, sending them permanently out of circulation.

Meanwhile, the SHIB price has staged an impressive surge overnight, briefly recapturing the $0.0000228 level.

Burn rate breaks above 104% line

Data published by Shibburn shows that over the past day, the SHIB community succeeded in burning 19,291,423 SHIB, moving them to unspendable wallets. This helped the burn rate to print a massive increase by more than 104%.

However, figures from the Shibburn website show that the actual amount of the burned meme coins is a little bigger and constitutes 26,221,803 SHIB. That 104% burn rate surge has been achieved in less than 10 transactions, where the largest ones carried 11,856,938; 8,910,223; 4,995,759 and 1,754,972 SHIB coins.

The tweet also unveiled data about weekly SHIB burns. According to it, over the past seven days, the SHIB army has disposed of 86,633,313 SHIB. However, the burn rate plummeted by almost 16%.

SHIB price soars 8.33%

Over the last 24 hours, the second most popular meme-inspired coin, Shiba Inu, has displayed rapid growth by roughly 8.33%, surging from $0.00002108 to a local high of $0.00002280.

As it rose, SHIB printed a large green candle on an hourly chart, which propelled it up by 4.31%, helping it achieve half of the total 8.33% rise.

By now, the SHIB price has rolled back by roughly 4% and is changing hands at $0.00002193. In yesterday’s rise, the popular meme coin followed the price trajectory demonstrated by the world’s primary cryptocurrency Bitcoin, which briefly surpassed $100,000.

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Shytoshi Kusama warns community

Earlier this week, the enigmatic lead developer of Shiba Inu, known under the alias Shytoshi Kusama, took to his official X account to warn the SHIB community about possible scam threats. Kusama reposted a tweet about the launch of new Shiba Inu ecosystem token TREAT. The launch took place on Jan. 14 on multiple large and small centralized exchanges, such as Kraken, MEXC, BitGet and SuperEx.

Kusama warned the SHIB community to avoid falling for fake TREAT tokens, which many fraudsters have begun to offer in an attempt to capitalize on the launch: “Don’t get scammed.”