SHIB Key Burn Metric Soars 1,193% As Big New Launch Approaches

Data provided by independent tracking platform Shibburn, which accumulates transaction data on Etherscan and then shares it on their website and X account, has revealed a massive SHIB burn rate spike over the last day.

In the meantime, the meme coin’s price has demonstrated a nearly 4% surge as it has made another attempt to break through the $0.00002177 resistance level. As of this writing, SHIB is changing hands at $0.00002173 per coin.

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Thu, 01/09/2025 - 09:35

SHIB Burns Plummet 72%, Here's Immediate Price Response

Yuri Molchan

SHIB burns jump 1,193%

The above-mentioned data source spread the word about an impressive SHIB burn rate surge during the period of the last 24 hours — slightly more than 1,193%. That spike was driven by the removal of 6,037,310 SHIB from the circulating supply, according to a tweet published by Shibburn earlier today.

The two largest token burn transactions here carried 2,511,360 and 1,000,000 SHIB 18 and 16 hours ago, respectively.

As for weekly burns, the increase has been 72.74%, with a massive 76,236,965 SHIB scorched and locked in unspendable SHIB blockchain addresses.

Shytoshi Kusama teases upcoming TREAT launch

In a recently published X post, the mysterious leader of the SHIB developer team, known by the Japanese-styled pseudonym Shytoshi Kusama, stated that the upcoming launch of the much-anticipated Shibarium token TREAT will be “unlike any other launch” that the Shiba Inu team has performed so far. He promised to reveal why today, Jan. 10, perhaps in an AMA session or in a tweet thread.

He also hinted at a significant development or event related to the approaching official release of this token. In a tweet published earlier, another pseudonymous SHIB team executive — Lucie — published what seems to be the scheduled date for the TREAT release: Jan. 14, 2025. On the same day, according to an X post, U.S.-based cryptocurrency exchange KuCoin intends to list this new token.