SHIB Burns Skyrocket 1,837% With Close to Half Billion SHIB Burned

Nearly half a billion SHIB meme coins have been scorched over the past day as a result of a sudden increase in the community’s burn activity. This time, a mysterious whale stepped in to facilitate a staggering SHIB burn, according to the data shared by Shibburn.

This coincided with a stunning increase of the SHIB price by more than 24%, which pushed it to the $0.00002753 level.

463.4 million SHIB torched; burn rate up 1,837%

Tracking platform Shibburn revealed that since yesterday morning, one of the major SHIB metrics – the burn rate – has suddenly increased by a massive 1,837.49%. The data source shared that 463,450,468 SHIB were burned in total.

Seven burn transactions conducted in the last 24 hours have made this stunning coin incineration possible. Still, one of them stands out by its size – 412,144,084 SHIB. This huge meme coin batch was transferred by an anonymous cryptocurrency wallet.

The other three largest transfers carried 46,754,762; 3,000,000 and 1,240,000 SHIB to unspendable blockchain addresses.

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Mon, 11/11/2024 - 09:19

Shytoshi Kusama Delivers Epic Message on SHIB’s Future and Ryoshi

Yuri Molchan

SHIB marketing lead shares important statement

In a recent tweet, Shiba Inu’s expert on marketing known by the pseudonym Lucie made a statement about DeFi, BONE and Shibarium.

Lucie took to her X account to discuss “the core goal of decentralized finance (DeFi).” She defined it as self-custody, which allows people to have full control over their coins without having to rely on centralized intermediaries. She claimed that centralized cryptocurrency exchanges expose users to various risks, including “data breaches, surveillance, and even manipulation.”

The reason for those risks is the major fact that they control users’ wallets and crypto stored in them, while DeFi is about totally different things, such as “decentralization, privacy, and real ownership.”

Lucie stated that rather than seeking “exchange integration,” platforms should focus on “ways to buy crypto directly on the blockchain with fiat. " This method is safe, cheap, fast and does not require exposing one’s crypto assets to “third-party spying.”

That should be the ultimate goal of DeFi – to create decentralized options that would let users to start buying crypto privately and maintain control over their data and assets. It is very important for platforms to “stay true to blockchain values,” while there is also another important goal: “end up undermining the very freedoms blockchain was meant to protect.”