Shiba

2024

when

Verge

Shiba Inu

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  Cover image via <a href="https://u.today/">U.Today</a>
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<p lang="en-GB" xml:lang="en-GB">According to the Shibburn wallet tracker, the Shiba Inu community continues to reach new milestones as it keeps gradually reducing the circulating supply of popular <a href="https://u.today/shytoshi-kusama-hints-coming-weeks-will-be-interesting-for-shib">meme coin Shiba Inu</a>.</p>
<p lang="en-GB" xml:lang="en-GB">In the meantime, the market performance of the second largest meme-inspired cryptocurrency has improved as its price attempted a breakout in the past day.</p>
<h2 id="shib-burn-rate-soars-high">SHIB burn rate soars high</h2>
<p lang="en-GB" xml:lang="en-GB">The above-mentioned data source reported that over the last 24 hours, the Shiba Inu burn rate has seen a major increase of more than 772%, while the Shiba Inu community has managed to dispose of 15,089,691 SHIB in three burn transactions.</p>
<p lang="en-GB" xml:lang="en-GB">The majority of this amount of crypto was transferred to an unspendable blockchain address in a single go; that transaction carried 14,980,422 SHIB. The other two burn transfers moved approximately 50,000 SHIB each to dead-end wallets.</p>
<img alt="Shiba Inu burns surge high" data-entity-type="file" data-entity-uuid="7a283cb3-527a-40f7-8e5f-40d31ec21d19" src="https://u.today/sites/default/files/inline-images/Shibburn.jpg"><em>Image via </em><a href="https://www.shibburn.com/"><em>Shibburn</em></a>
<p lang="en-GB" xml:lang="en-GB">Over the weekend the SHIB burn rate managed to jump much higher, and high growth was noticed both on Saturday and Sunday – 2,834% and 5,975%, respectively. On Saturday, a record amount of meme coins was destroyed in virtual flames – <a href="https://u.today/shib-skyrockets-2834-despite-price-remaining-6-down">232,222,042 SHIB</a>.</p>
<p lang="en-GB" xml:lang="en-GB">Currently, 583,494,740,394,717 Shiba Inu coins remain in circulation on the market, with 410,728,825,806,575 SHIB already locked in dead-end wallets.</p>
<h2 id="bullish-shibarium-statement-from-shib-executive">Bullish Shibarium statement from SHIB executive</h2>
<p lang="en-GB" xml:lang="en-GB">The official Shiba Inu marketing lead known under the pseudonym Lucie published a post as a response to those who do not believe in the bright future of Shibarium – the layer-2 blockchain built on top of Ethereum for the Shiba Inu ecosystem.</p>
<p lang="en-GB" xml:lang="en-GB">She reminded those critics and skeptics that the ShibaSwap DEX once reached a whopping $1 billion in funds staked on it. All of these funds came from Shiba Inu, which back then was merely a meme coin.</p>
<blockquote>
 <p lang="en" dir="ltr">When people say Shibarium won’t make it, just remind them Shibaswap once had $1 billion staked—all from a “meme” token.Once Shibarium hits that sweet spot of demand, market conditions, and global adoption, the FUDders will be standing there like, “Wait, what just happened?” <a href="https://t.co/EQwTwUbpos">pic.twitter.com/EQwTwUbpos</a></p>— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) <a href="https://twitter.com/LucieSHIB/status/1837727750271967315?ref_src=twsrc%5Etfw">September 22, 2024</a>
</blockquote> 
<p lang="en-GB" xml:lang="en-GB">Lucie said that as soon as Shibarium demand sees a sufficient increase and meets the necessary market conditions and global adoption, “the FUDders will be standing there like, ‘Wait, what just happened?’”</p>
<h2 id="shib-price-surge">SHIB price surge</h2>
<p lang="en-GB" xml:lang="en-GB">Over the last 24 hours, Shiba Inu meme coin has demonstrated a <a href="https://www.tradingview.com/symbols/SHIBUSDT/">substantial 2.92% increase</a>, rising from $0.00001434 to the $0.00001475 price level, where it is changing hands at the time of this writing.</p>
<p lang="en-GB" xml:lang="en-GB">Overall, since Wednesday, Sept. 18, when the Fed announced the 50-basis-point rate cut, SHIB has seen a massive rise of 13.35%.</p>

SHIB Burns Skyrocket 772% as Price Is on Verge of Breakout

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