Shibburn Reports Increase in SHIB Burn Rate

Shibburn blockchain data aggregator highlights a massive five-digit increase in the burn rate over the past day.

Meanwhile, the popular meme-inspired asset SHIB surged by almost 10% but then failed to sustain that brief height.

SHIB Burns Spike 49,552%

In the past 24 hours, the Shiba Inu community has significantly increased the daily burn rate by 49,552%, according to Shibburn. However, only 13,290,880 SHIB were burned, achieved through four transactions, with the largest carrying 12,131,978 SHIB to an unspendable blockchain wallet.

Previously, on Friday, the burn rate had soared a staggering 27,660%, but the quantity of burned coins was much larger at 503,305,764 SHIB. Most of this was burned in a single transfer by an anonymous whale.

SHIB Leader Absence

The SHIB leader known as Shytoshi Kusama has been silent on the X app for three weeks. Since his last post on February 21, he has made only retweets but has not shared any updates or geo-location changes, leading to speculation about his whereabouts. Lucie, the head of marketing at SHIB, stated that Kusama is focused on promoting Shiba Inu globally, as he previously raised $12 million for the Shibarium layer-3 solution.