Shibburn tracking site, in the last 24 hours Shiba Inu announced that its community has successfully disposed of a significant portion of its SHIB meme coins by moving them to unusable wallets. On Monday, the week started with a negative burn rate. However, after SHIB’s lead developer announced an increase in price, SHIB’s burn rate increased by more than 100%.
According to data, a total of 45,379,403 SHIBs were transferred to unusable wallets in the last 24 hours. In this way, the burn rate increased from below zero to 100.54%.
The largest transaction in this burn list is 9,891,756 SHIB, the smallest is 14,292 meme coin was carrying. According to the same source, last week, the community managed to remove a total of 341,152,570 SHIBs from the circulating supply.
Shytoshi Kusama Says What Could Raise SHIB Price in the Future
Earlier this week, Kusama responded to a commenter who complained that the SHIB price hadn’t moved an inch lately.
Kusama “shared a secret” that only hard work can help the price of the popular meme coin rise. By the way, Shytoshi’s main invention after SHIB (which he started with Ryoshi) is the Layer-2 blockchain Shibarium‘Stop.
Shibarium was released on August 15. Then, after a crash due to mind-boggling traffic flow, it was restarted. Now, almost 40 days have passed since the second release. Moreover, Shibarium has managed to achieve several milestones. The number of transfers on this network exceeded the record of 3.3 million. With this, the total number of blocks mined exceeded the one million level.
Shiba Inu price performance
Still, SHIB is trading at a price level of $0.000006972 without making any significant attempts to move higher. It was recently pushed to the 19th position according to CoinMarketCap. Additionally, he has managed to regain 18th place there so far. Leading digital currency Bitcoin fell below the $28,000 level following the Stars Arena hack that occurred over the weekend. It brought the entire crypto market down with it, including SHIB.