In a frenzy of activity within the past 24 hours, the Shiba Inu community, affectionately known as the SHIB army, has executed a monumental feat, burning a substantial amount of meme coins to ashes in an irreversible move. According to recent data shared by the Shibburn team, a staggering 87,760,994 SHIB has been transferred to “inferno” wallets, sealing their fate without any chance of recovery.
This surge in SHIB burns has propelled the overall burn rate to an astonishing 48,554.74% increase, marking a significant milestone in the community’s ongoing efforts to reduce the circulating supply. Remarkably, only two burn transactions facilitated this feat, with a combined total of 87,760,994 SHIB consigned to oblivion in dead-end addresses.
Earlier this week, the SHIB community demonstrated its resolve by driving the burn rate to a remarkable high, witnessing a surge of 1,344% on April 9 alone. During this period, an impressive 135,451,536 SHIB was permanently removed from circulation, underscoring the dedication and enthusiasm of SHIB supporters.
Shiba Inu Lead Kusama Breaks Silence with Easter Wishes
Amidst these developments, the enigmatic figure behind Shiba Inu, Shytoshi Kusama, broke his silence with a festive tweet addressing the global SHIB community. Affectionately dubbed as “working like a dog,” Kusama extended warm wishes for Easter, encompassing its diverse celebrations such as Passover, Eid, and Gudi Padwa/Ugadi. Furthermore, Kusama extended an invitation to SHIB users and developers to join him in Dubai for the Blockchain Life Forum on April 16, fostering community engagement and collaboration on Shibarium.
In the realm of price action, Shiba Inu has witnessed both turbulence and resilience. Despite experiencing a significant 10.5% plunge between Tuesday and Wednesday, SHIB has shown remarkable resilience, recovering half of its losses over the last 24 hours. Currently trading at $0.00002801, SHIB continues to strive towards breaking above the elusive $0.00002950 level.
As the SHIB army continues to demonstrate unwavering loyalty and resilience, the future of Shiba Inu remains a testament to the power of community-driven initiatives and the enduring appeal of meme cryptocurrencies in the ever-evolving landscape of digital assets.