Shiba Inu burn rate spikes 1,364% as SHIB
Today, Shiba Inu’s burn rate showed major spike after SHIB Lead Dev spread word about Shiberium
Recently published data by Shibern tracking platform Data shows that the second most popular canine cryptocurrency, Legion, is up more than 1,364% over the past 24 hours. A total of 9,607,635 Shiba Inu were sent to unspent wallets and permanently out of circulation.
SHIB burn rate increases with price
On Friday, the SHIB burn rate was below zero as less than 1 million Shiba Inu tokens were moved to “hell” addresses.
Along with the price of Mim Coin, the burn rate of SHIB also increased. In the last 24 hours, the SHIB/USD exchange rate has gained 3.31% after falling by almost 16% since Wednesday. As of this writing, the second largest meme coin is changing hands on the Binance exchange at $0.00001261.
Token price and burn rate seem to be correlated as a drop in price often leads to a drop in the amount of MEME coins burned.
Shiberium News From Key Developer: “Temporarily Quiet”
Twitter user KURO SHIBARMY JPN (@kuro_9696_9696) shared a screenshot from a Telegram chat with the lead developer of Shiba Inu Token, known on social media as Shitoshi Kusama.
In the message on the screenshot, the pseudonymous developer commented on the lack of news about the launch of the Shiberium Layer-2 protocol. While the “complaint” was that “the Shiberium news is awfully quiet,” Shiotoshi simply replied: “Temporarily.”
“Shiberium news is awfully cool”
“this is temporary”#shib #shiberium pic.twitter.com/Fb1Rcj81mB
– Kuro Shibarami JPN🇯🇵 (@Kuro_9696_9696) February 11, 2023
Earlier this year, Shiotoshi Kusama indicated that the layer-2 protocol could be released on February 10 or February 14. The first is Flute Day in Japan, the second is Valentine’s Day.
Shiotoshi reacts to the rumors on February 14
In January, Shiotoshi added a text to his bio section that noted “learn to play the flute” and is preparing to present Shiberium in “a heart-shaped box”. The community quickly decided that the developer was hinting at February 14th.
Nothing happened on February 10 (yesterday). Now the hopes of the SHIB army are pinned on Valentine’s Day. As reported by U.Today earlier this week, Shiotoshi Kusama answered a question about these rumors without denying or confirming them.
#shib #shiberium pic.twitter.com/0qSMyvvFke
– Kuro Shibarami JPN🇯🇵 (@Kuro_9696_9696) February 10, 2023