Shiba

Burn

Kusama

Dogecoin

Shiba Inu

The Shiba Inu community recently observed a notable rise in its burn rate. It surged 24,271% within a single day. This increase reported by the tracking platform <a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Shibburn</a>, comes as the cryptocurrency’s lead developer, Shytoshi Kusama, issued a statement about SHIB’s substantial growth since its all-time low four years ago.
Shibburn shared <a href="https://x.com/shibburn/status/1851120843469754747?s=46" rel="noopener noreferrer nofollow">data</a> showing that the asset’s daily burn rate surged 24,271% within 24 hours, destroying 5,674,617,337 SHIB tokens.
<img fetchpriority="high" decoding="async" class="size-full wp-image-48975 aligncenter" src="https://timestabloid.com/wp-content/uploads/2024/11/Shib-burn.png" alt="SHIB Burn Spikes 24,271% As Shiba Inu Leads Dev Discuss SHIB Substantial Growth" width="377" height="412" srcset="https://timestabloid.com/wp-content/uploads/2024/11/Shib-burn.png 377w, https://timestabloid.com/wp-content/uploads/2024/11/Shib-burn-275x300.png 275w, https://timestabloid.com/wp-content/uploads/2024/11/Shib-burn-150x164.png 150w, https://timestabloid.com/wp-content/uploads/2024/11/Shib-burn-300x328.png 300w" sizes="(max-width: 377px) 100vw, 377px">
Earlier in the week, there was another uptick in SHIB burn activity, with a reported 305% increase that eliminated 39,593,693 SHIB tokens. However, the most substantial burn rate increase this week was recorded over the weekend, reaching a high of 65,529.67%. Despite this remarkable rate, the amount burned was relatively small, with only 2,652,095 SHIB removed from circulation.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="b-shytoshi-kusama-highlights-long-term-growth-b">Shytoshi Kusama Highlights Long-Term Growth</h2>
Alongside the recent activity, Shytoshi Kusama addressed the token’s long-term growth in a recent statement on social media.
In response to a post highlighting Bitcoin’s status as the top-performing asset of the past decade, Kusama <a href="https://x.com/shytoshikusama/status/1851413811246293472?s=46" rel="noopener noreferrer nofollow">pointed out</a> the asset’s exceptional growth trajectory since hitting its lowest price on September 1, 2020. According to Kusama, the token has surged by an extraordinary 33,774,726.7% since that date.
Kusama’s post also compared SHIB’s growth to other major cryptocurrencies. Dogecoin (DOGE), another popular meme-based cryptocurrency, rose by 202,583% over the same period, while Solana (SOL) increased by 35,715.8%, and Binance Coin (BNB) experienced an increase of 1,521,482.8%.
Kusama remarked that despite the asset’s impressive gains, the development team remains committed to further progress and aims to strengthen the ecosystem’s reputation within the broader crypto community.
<h2 id="b-price-and-market-trends-b">Price and Market Trends</h2>
Although the token has achieved extraordinary growth over the long term, its recent price movement has been more volatile. The <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">token’s price</a> decreased by nearly 0.64% in the past 24 hours, following a 5.05% surge earlier in the week. This recent activity shows the continued interest and the token’s susceptibility to short-term fluctuations.
In light of these developments, Kusama emphasized the need for ongoing work to solidify the ecosystem’s value and credibility. While recent burn rates demonstrate efforts to curb supply and potentially support price stability, market dynamics, and investor sentiment remain critical factors in the token’s future.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on <a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.facebook.com/timestabloid/" class="broken_link" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow">Google News</a>
The post <a href="https://timestabloid.com/shib-burn-spikes-24271-as-shiba-inu-leads-dev-discuss-shib-substantial-growth/" rel="noopener noreferrer nofollow">SHIB Burn Spikes 24,271% As Shiba Inu Leads Dev Discuss SHIB Substantial Growth</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

SHIB Burn Spikes 24,271% As Shiba Inu Leads Dev Discuss SHIB Substantial Growth

Table of Contents

Times Tabloid

Other articles published on Nov 2, 2024

Bullish Musk (BULLMUSK) Solana Memecoin Will Explode 19,000% Before Exchange Listing, While Shiba...

Financial Pros and Newcomers Gather at Davao Traders Fair 2024 for Interactive Learning and Conne...

Enhancing Blockchain Privacy: The Role of Zero-Knowledge Proofs in Secure Transactions

21Shares Applies for Spot XRP ETF with SEC

Pyth Network Surpasses Chainlink with $36B in Trading Volume: Time to Buy?

Bullish Musk (BULLMUSK) Solana Memecoin Will Explode 19,000% Before Exchange Listing, While SHIB,...

Join our free newsletter for daily crypto updates!