According to recent data shared by the Shibburn team, within the last 24 hours, the SHIB army has transferred a massive amount of meme coins to "inferno" wallets, effectively burning those SHIBs with no chance of recovery. Meanwhile, the SHIB price has recovered from yesterday's plunge, and Shytoshi Kusama, the mysterious SHIB leader, has posted a festive tweet.

SHIB Community Ignites Record Token Burn, Surging Rate by Over 48,000%

According to the data mentioned by the source (via U.Today), on April 10, the loyal SHIB community, which includes enthusiastic individuals and legal entities, transferred 87,760,994 SHIB to unspendable blockchain wallets.

These burns increased the overall SHIB burn rate by 48,554.74%. So far, there have only been two impressive burn transactions, carrying 61,908,927 SHIB and then 25,852,066 SHIB meme coins to dead-end addresses. Both transfers occurred 17 and 18 hours ago.

Earlier this week, the SHIB community also significantly increased the burn rate. On April 9, the burn rate increased by 1,344 percent. Back then, however, many meme coins—135,451,536 SHIB—were permanently removed from circulation.

Shytoshi Kusama Breaks Silence with Festive Wishes and Invites to Dubai Forum

Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, has addressed the SHIB community on the X social media network after a long silence.

Kusama stated that he has been "pretty quietly working like a dog" and has nearly forgotten to send season's greetings to the vast SHIB community worldwide. He wished everyone a Happy Easter in various forms, depending on their religion: Passover, Eid, and Gudi Padwa/Ugadi.

In addition, Kusama has invited Shibarium users and builders to attend the Blockchain Life Forum in Dubai on April 16 and say "hi" to the SHIB representatives.

SHIB Battles Market Volatility, Regaining Ground with a 5.85% Recovery

This week, the second largest meme cryptocurrency, SHIB, has been striving to break above the $0.00002950 level but only touched it twice without closing at it. Between Tuesday and Wednesday, the asset fell by an astounding 10.5%.

However, in the last 24 hours, SHIB has recovered half of its loss, rising by 5.85% and trading at $0.00002801 at the time of writing.

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