SHIB Burns Skyrocket 708% as SHIB Price on Verge of Big Recovery

According to data published by Shibburn, the Shiba Inu army succeeded in pushing the burn rate to a big height, while SHIB is showing a massive price increase.

Now that the world’s largest cryptocurrency Bitcoin is recovering, the rest of the market is going green, and Shiba Inu is skyrocketing.

SHIB burns rising high

The aforementioned data source spread the word that since last morning, the SHIB burn rate has demonstrated an astonishing increase of more than 708%. Still, despite the impressive burn rate rise, the total amount of the meme coins that have been destroyed is not too high — merely 2,760,121.

Nearly all of this SHIB chunk was transferred to unspendable blockchain wallets in a single transfer that carried 2,000,000 SHIB. The second biggest transfer moved half a million SHIB to a dead wallet.

Shiba Inu price skyrockets

During the last 24 hours, the second most popular meme cryptocurrency in the market, SHIB, has secured a huge rise, soaring by 25.88% — surging from $0.00001107 and reaching the $0.00001393 level by now.

That price spike finally came after the meme-inspired coin had been plunging since Monday last week. Over that period of time, it collapsed by 36%, falling from the $0.00001726 price mark. Now this massive price loss has been almost entirely regained.

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Mon, 08/05/2024 - 07:56

Shytoshi Kusama Excites SHIB Community With “Mask Off” X Message

Yuri Molchan

SHIB lead Kusama issues "Mask off" tweet

On Sunday, the mysterious lead developer of the SHIB team known to the global community as Shytoshi Kusama published a tweet that left the Shiba Inu community excited. He addressed the SHIB army, tweeting “Mask off.”

That tweet contained a Shiba Inu dog sitting in the passenger seat of a car with a window wound down. In fact, that was a repost of a tweet published by the Huobi crypto exchange, which signified the beginning of the “National Dog Month.”

Many excited commentators also seemed to consider that a reference to Shytoshi Kusama’s series of recent appearances. Kusama revealed himself to the community as he visited several major blockchain events around the world — in Japan, India and the UAE. However, he wore two masks to avoid unveiling his true face. In India and the UAE he was joined by the top SHIB developer Kaal Dhairya, who was also wearing a mask.