Shiba Inu (SHIB) Burn Rate Surges 49,646% in One Day, Eliminating 175 Million Tokens

This extraordinary burn event paralleled a remarkable 10% price jump, solidifying SHIB's market momentum.

Shiba Inu (SHIB) experienced an exceptional burn rate surge of 49,646% in just one day, eliminating over 175 million tokens from circulation. This massive burn event coincided with a remarkable 10% price jump, further boosting SHIB's market momentum.

Shiba Inu Burn Rate Surges by an Astounding Five-Digit Percentage

The famous meme-inspired cryptocurrency saw its burn rate surge by an astounding five-digit percentage in the past day, data revealed by Shibburn tracking site in a just-published Reddit post.

This occurred at the same time that the Shiba Inu price had a massive surge of over 10% in only two hours, price charts show. One large and one smaller green candle on the chart show how the price shot up by over 10% in just two hours.

This brought the price up from $0.00002523 to $0.00002784. After a brief dip and subsequent recovery, the meme coin is now trading at $0.00002732.

SHIB Burn Rate Skyrocketed by 49,646%

The daily burn rate of Shiba Inu (SHIB) skyrocketed last night, making it the second-largest cryptocurrency based on dogs by market valuation, data from the aforementioned source shows.

A total of 175,311,356 SHIB coins were transferred to unspendable blockchain addresses, surging this metric by a massive 49,646%, a recent tweet noted.

There have been five burns in total, with the largest one burning 169,287,021 SHIB. Not once, but twice did three of them burn 4,023,335 SHIB meme coins — one million at a time.

However, the weekly burn rate is currently negative, showing a decrease of 69.49%. The Shiba Inu community managed to burn 195,050,744 SHIB.

Shytoshi Kusama Warns FUD Spreaders

Pseudonymous SHIB lead developer Shytoshi Kusama surprised the community on Friday with a series of tweets on their Reddit feed. The SHIB lead had a short thread where he went on a rampage against anyone spreading disinformation, claiming he had switched to "fudder roaster mode."

“I am now in fudder roaster mode. I will screenshot any fud msg b4 they can delete. Anyone spreading FUD will be roasted,” the SHIB lead noted without mentioning anyone in particular.

“Watch them delete messages. Now I will screenshot b4 I roast. Go ahead… use all your alts.”

After that, Shytoshi shared a few facts with the community: Shiba Inu is still the most valuable token on the Ethereum network, and the highly anticipated TREAT token, which will be integrated into the Shiba Inu ecosystem, has not yet been launched.