U.Today: According to data provided by public on-chain SHIB tracker Shibburn, over the past day, one of the key metrics skyrocketed, showing four-digit growth.
This increase was followed by the removal of a substantial number of meme coins as they were permanently kicked out of the circulating supply. This coincided with a large bullish price move for SHIB as it rose by approximately 10% overnight.
SHIB burn rate increases by 2,133%
Shibburn, which obtains burn transaction data on Etherscan and then brings it to the SHIB army on its website and in its X account, has revealed that over the last 24 hours it has detected six burn transactions, allowing a total of 34,312 to be deleted. 733 SHIB of circulation.
Thanks to burning that large amount of SHIB, Shiba Inu's burn rate metric increased by an impressive 2,133%. Almost the entire aforementioned SHIB shard was destroyed in a single transfer, which brought 31,483,015 SHIB to an unusable blockchain wallet. Two other large transfers moved 1,000,000 and 1,259,569 SHIB to the same destination.
Shytoshi Kusama walks away from X
Today, the mysterious SHIB leader widely known throughout the community as Shytoshi Kusama, took to his official X account to inform the SHIB army that he intends to disappear from social media for a few days as he has a new Shibarium token. TREAT to release and “Two extremely important documents to complete.”
During the last days of December, Shytoshi announced the launch of his personal podcast, which will consist of 44 episodes, where he will talk to the community about the technological things that the SHIB team is building, what has already been launched and what they plan to do . release soon. Kusama also tweeted that 2025 will be “epic.”
The price of the Shiba Inu shoots up 10%
Over the past day, the price of the second largest dog-themed meme coin, SHIB, surprised the market by jumping over 10%. SHIB rose rapidly from $0.00002258 and managed to reach the $0.00002490 level. At this point, the meme coin has retraced 1.77% and is changing hands at $0.00002451.
SHIB has mirrored the recent price action demonstrated when the world's largest cryptocurrency soared 3%, briefly rising from $96,000 to the $98,950 level. Currently, BTC is trading at $97,950 after a marginal pullback.
This article was originally published on U.Today.
