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Data shared by tracking platform Shibburn in a recently published X article shows that over the past day, the burn rate of the popular meme-inspired cryptocurrency demonstrated a staggering five-digit increase.
Sharp rise in SHIB prices overnight
This happened as the Shiba Inu price posted a massive rise of over 10% in just two hours, according to price charts. The price printed a massive green candle and a smaller candle on the chart, showing an astonishing rise of over 10% in two hours.
Thus, SHIB rose from $0.00002523 to the price level of $0.00002784. As of this writing, the meme coin is changing hands at $0.00002732 after a slight decline and subsequent rise.
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The combustion rate climbs to almost 50,000%
The aforementioned data source revealed a stunning sudden increase in the daily burn rate of the second largest dog cryptocurrency by market cap value, Shiba Inu (SHIB). According to a recent tweet, this metric skyrocketed by 49,646% with a staggering 175,311,356 SHIB coins transferred to unusable blockchain addresses.
There have been five burns so far, with the largest carrying 169,287,021 SHIB into the burn portal. Three others helped burn 4,023,335 and twice 1,000,000 SHIB meme coins.
However, the weekly burn rate is currently in the red zone, hovering below zero. Over the past week, the Shiba Inu community managed to shed 195,050,744 SHIBs, but the burn rate itself dropped by 69.49%.
Shytoshi Kusama goes into “roast meat mode”
On Friday, SHIB’s pseudonymous lead developer Shytoshi Kusama surprised the SHIB community with several tweets on their X feed. Among them was a short thread in which the SHIB official criticized FUD makers, claiming that he had entered “fodder roaster mode”.
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Kusama did not name anyone in particular. However, he pointed out that these bad actors often delete their tweets after posting FUD against Shiba Inu in them: “Watch them delete posts. Now I’m going to take a screenshot of b4 that I’m roasting. Go ahead…use all your alts.
After that, Shytoshi gave some reminders to the community, saying that Shiba Inu remains the number one token on the Ethereum chain and also that the highly anticipated TREAT token which will play a key role in the Shiba Inu ecosystem has not yet been released. published. .