Shiba Inu Burn Rate Skyrockets 60,000% Amid Partnership Announcement Hint

The Shiba Inu (SHIB) burn rate has skyrocketed an astonishing 60,000% in a single day, with over 1.01 billion SHIB tokens removed from circulation.

Cryptocurrency prices today: SHIB burn rate surges by an astonishing 60,000% in a single day, as a crypto whale makes a massive accumulation and Mark Cuban praises SHIB and DOGE while slamming TRUMP coin.

Shiba Inu (SHIB) is showing no signs of slowing down as the burn rate hit an astronomical 60,000% increase in a single day. Over 1.01 billion SHIB were removed from circulation, sparking renewed excitement among investors.

This massive burn comes amid growing anticipation of a major partnership announcement, which was hinted at by lead SHIB developer Shytoshi Kusama in a cryptic post on X (formerly Twitter).

“SHIB, the ecosystem, brand, meme, operating system, and network state has an extremely powerful partnership announcement coming soon.”

This statement has sparked a flurry of speculation within the Shiba Inu community, as investors are keen to see how the Shibarium ecosystem will continue to evolve.

According to X, the burning mechanism in cryptocurrency permanently removes coins from circulation, reducing the overall supply. This tactic is commonly used to increase scarcity and drive up the value of the remaining coins.

The latest SHIB burn event saw over 1 billion tokens being incinerated, piquing the interest of investors once again.

As SHIB's burn rate soared to new heights, on-chain data revealed that a crypto whale swept up another 257.5 billion SHIB, valued at approximately $4.6 million at the current market price.

The whale's massive accumulation, highlighted by WhaleStats, now totals 477.5 billion SHIB ($8.57 million), making it the subject of much speculation and chatter among the crypto community.

Typically, whale activity serves as a crucial indicator of market confidence, and this substantial acquisition suggests that major players might be anticipating SHIB's continued growth in the long run.

Billionaire investor Mark Cuban made headlines by taking a strong stance against the newly launched TRUMP coin while praising Shiba Inu and Dogecoin.

Cuban slammed TRUMP coin as a “symbol of crypto chaos,” highlighting its speculative nature that ultimately weakens the credibility of the crypto space.

He went on to explain that SHIB and DOGE have succeeded due to their community-driven approach, transparency, and lack of false promises.

“It's why SHIB, Doge, and only a few others have worked. It's about the community long-term… No promises. No pumps. Just complete transparency,” Cuban posted on X.

This statement aligns with the growing narrative that meme coins with strong ecosystems and dedicated communities, such as Shiba Inu and Dogecoin, are set to endure.

At the time of writing, Shiba Inu is up by 5%, trading at $0.00001879. The combination of burn activity, whale accumulation, and growing ecosystem developments suggests that SHIB could be poised for further bullish movement in the coming weeks.