Mystery Behind Burning Of 102 Million Shiba Inu (SHIB) And Revival Of Shibarium

Both the number of Shiba Inus that had to be euthanized during the course of the previous week. In addition, the prices of SHIBs have a lot of room for improvement.

A sizeable quantity of SHIB has been taken out of circulation during the course of the previous week. In spite of this, there is not enough reason to justify an increase in the price of a Shiba Inu.

When Compare It to the Summer Of 2022

This constitutes a small part of the meme coins that are sent out to wallets on a weekly basis. That does not allow access to any information that could be valuable.

The day that Shibarium will be released to the public, is one of the most essential factors that determine. During this phase of transition, the time frame for when it will be available has been established.

Once more, the price of shibaridone as well as the daily or monthly amount of shibaridone that is burnt remains a mystery.

Because Shytoshi Kusama has stated that he is unable to specify a definite date for it at this moment. Because it is currently unknown when exactly it will take place.

In addition to that, the price of a Shiba Inu has shown a weekly decline of about 14%. If we are to believe CoinMarketCap. At the time of this publication, one meme coin can be purchased for 0.0000001248 dollars.

102, 1 Million Shiba Inus Were Wiped Off

An update may be viewed on the website of the Shibburn tracker, which is responsible for compiling statistics. On-burn deals that have been completed on Etherscan over the past week.

The SHIB army was successful in eliminating a total of 102,145,155 SHIB from the supply that is now in circulation. As evidenced by the fact that this has been ascertained.

In order for them to reach that position, they needed to finish a total of 28 deals. This amount, when represented in Shiba Inu, is only comparable to $1,294. Which is a significant distance from being able to become the highest ever recorded.

Despite the fact that it seems important when considered in terms of the meme token equivalent. Burn rate is one of the signals that are considered to represent the overall “health” of a cryptocurrency and its ecosystem on the market.

This “health” is measured relative to other cryptocurrencies in the market. Since last week, SHIB burning has increased by over 1,000% daily. These increases have been particularly noticeable during the past two days.

On Saturday, there was a sharp increase in the total number of Shiba Inu tokens that had been consumed. Leaping from fewer than 2 million to more than 9 million people in the population.

This represents a significant increase from the previous day. Exhibiting a total growth of 1,364% during the course of time. On Sunday, the SHIB burn rate exhibited again another 1,000% increase from the previous day.

This measure, on the other hand, is currently in the negative with a value of -12.83%. (With a total of 37,611,171 SHIB burned in the past 24 hours).

Shib’s Chief Developer Has Dashed Hopes for Shibarium’s Release

The pseudonymous Shytoshi Kusama is the principal creator of the Shiba Inu token and the Shibarium Layer-2 protocol.

It responds to the concerns expressed by the SHIB army on the “awfully silent” nature of the news regarding the release of Shibarium. In response, Kusama stated that this situation is just “temporary.” The Ethereum Virtual Machine is the foundation for Shibarium (EVM).

Telegram was the medium via which this communication was carried out. Later on, he claimed that he is unable to disclose any specific data on which Shibarium will be rolled out. However, he did say that this information will be provided.

Simply because “it does not happen by switching it on and off.” As a direct consequence of this, he is unable to provide any assurances concerning the situation.