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Cryptocurrency News Articles
Shiba Inu Leader Drops Cryptic Message, SHIB Price Skyrockets 27% With Burn Rate Surge
Sep 28, 2024 at 11:13 am
A mystery message has been delivered to the global Shiba Inu community by Shytoshi Kusama, the pseudonymous lead of SHIB, using his official account
Shiba Inu (SHIB) has seen a massive surge in price following a cryptic anime GIF from SHIB lead Shytoshi Kusama on X social media (formerly Twitter). The burn rate also spiked significantly.
Shiba Inu lead Shytoshi Kusama dropped a cryptic anime GIF from his official account on X social media, continuing his unique style that's heavily influenced by Asian culture, particularly Japanese culture. The GIF showed an anime character smiling and smirking while looking at his phone screen.
The message comes as the Shiba Inu meme coin price is surging. In the last 24 hours, the second-largest canine-themed cryptocurrency by market capitalization has gone up by an incredible 27.3%.
At its current price, SHIB is set to burn through another zero as it has reached the $0.00001917 mark. The token is now trading at $0.00001917, up from $0.00001511 yesterday.
Bitcoin, the largest and oldest cryptocurrency, also surged 4% overnight, going from $62,900 to over $65,400 today. SHIB is following suit in terms of price.
According to data from Shibburn, another key metric for Shiba Inu, the SHIB burn rate has also seen an incredible surge over the last day.
SHIB Army Celebrates 33,000% Burn Spike
As reported by U.Today, the SHIB army has burned through 1,884,288,401 SHIB in a single day. This marks a 33,818.39% spike from the previous day. Only the SHIB development team burned such massive SHIB chunks at a time throughout the last year.
Shibarium’s Automated Burn Drives GrowthA new automated burn mechanism has been operating since the August hard fork on Shibarium, which includes a new Bor component. Part of it involves setting aside some of the gas fees received in BONE on Shibarium, which are then automatically converted to SHIB and burned, or moved to permanently unspendable blockchain addresses.
There were eight burn transactions in the last 24 hours, according to Shibburn. Of the remaining ones, the largest transported 2,839,000 and 5,040,479 SHIB, respectively, while the biggest one burned 1.8 billion SHIB. Three burn transfers also carried over 1,000,000 SHIB.
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