U.Today – According to data provided by public on-chain SHIB tracker Shibburn, over the past day, one of the key metrics has jumped, showing four-digit growth.
This increase was followed by the removal of a significant amount of meme coins as they were permanently removed from the circulating supply. This coincided with a big move up in SHIB’s price as it rose roughly 10% overnight.
SHIB burn rate increased by 2133%
Shibburn, which collects recorded transaction data on Etherscan and then feeds it to the SHIB army on its website and X account, revealed that it had spotted six recorded transactions over the past 24 hours, which allowed a total of 34,312,733 SHIB to be removed from circulation.
Thanks to burning that large amount of SHIB, the Shiba Inu’s burn rate metric increased by an impressive 2133%. Almost all of the aforementioned SHIB portion was destroyed in a single transfer, which transferred 31,483,015 SHIB to an unspendable blockchain wallet. Two other large transfers moved 1,000,000 and 1,259,569 SHIB to the same destination.
Shytoshi Kusama moves away from X
Today, the mysterious leader of SHIB, widely known in the community as Shytoshi Kusama, opened his official X account to inform the SHIB army that he intends to disappear from social media for a few days as he has a new Shibarium token TREAT to launch and “2 extremely important documents for complete.”
During the last days of December, Shytoshi announced the launch of his personal podcast, which will consist of 44 episodes, where he will talk to the community about the technical things that the SHIB team is building, what has already been launched and what they plan to release soon. Kusama also tweeted that 2025 will be “epic.”
Shiba Inu price jumped 10%
Over the past day, the price of the second largest dog-themed meme coin SHIB surprised the market by jumping more than 10%. SHIB quickly rose from $0.00002258 and managed to reach the level of $0.00002490. So far meme coin has returned 1.77% and is changing hands at $0.00002451.
SHIB mirrored the recent price action it showed as the world’s largest cryptocurrency surging 3%, rising from $96,000 briefly to the $98,950 level. BTC is currently trading at $97,950 after a marginal retracement.
