SHIB Burns Soar 48,554% As Shytoshi Kusama Makes Festive Statement

According to the recent data shared by the Shibburn team, within the past 24 hours, the $SHIB army has transferred a massive amount of meme coins to “inferno” wallets, burning those $SHIB without a chance of recovery.

In the meantime, the $SHIB price has managed to recover after yesterday’s plunge and the mysterious $SHIB lead Shytoshi Kusama has published a festive tweet.

$SHIB burns jump to flabbergasting high

The above-mentioned data source has reported that since last morning, the loyal $SHIB community, which includes both enthusiastic individuals and legal entities, has transferred 87,760,994 $SHIB to unspendable blockchain wallets.

These burns have propelled the overall $SHIB burn rate to a smashing 48,554.74% increase. There have been only two burn transactions so far, both are impressive as they carried 61,908,927 $SHIB and then 25,852,066 $SHIB meme coins to dead-end addresses. Both transfers took place 17 and 18 hours ago.

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Earlier this week, the $SHIB community also succeeded in raising the burn rate to a significant high. On April 9, the burn rate soared by 1,344%. Back then, however, a lot more meme coins got permanently erased from the circulating supply – 135,451,536 $SHIB.

Shytoshi Kusama "working like a dog"

The pseudonymous lead developer of Shiba Inu known as Shytoshi Kusama has taken to the X social media network to address the $SHIB community after a long silence.

Kusama mentioned that he has been “pretty quietly working like a dog” and has almost forgotten to send season’s greetings to the vast $SHIB community scattered around the globe. He has wished everyone a happy Easter in its multiple variations depending on the religion of those celebrating it – Passover, Eid, Gudi Padwa/Ugadi.

Besides, Kusama has invited $SHIB users and builders on Shibarium to go to Dubai to attend the Blockchain Life Forum on April 16 and say hi to the $SHIB reps there.

Shiba Inu price action

This week, the second largest meme cryptocurrency $SHIB has been striving to break above the $0.00002950 level but only managed to touch it twice without closing at it. Between Tuesday and Wednesday, the asset plunged by a massive 10.5%.

However, over the last 24 hours, $SHIB has managed to recover half of that loss, rising by 5.85% and trading at $0.00002801 at the time of this writing.