Shiba Inu witnessed a burn rate surge of 49,646% in just one day, eliminating over 175 million tokens. This extraordinary burn event paralleled a remarkable 10% price jump, solidifying SHIB's market momentum.

Shiba Inu's Burn Rate Sees Astounding Surge

The burn rate of the famous meme-inspired cryptocurrency has shown an astounding five-digit surge in the past day, according to data revealed by the Shibburn tracking site in a just-published X post.

Per U.Today, it occurred at the same time that, according to pricing charts, the Shiba Inu price had a tremendous surge of over 10% in only two hours. In just two hours, the price shot up by over 10% as shown by one large and one smaller green candle on the chart.

This caused the price of SHIB to surge from $0.00002523 to $0.00002784. After a brief dip and subsequent recovery, the meme coin is now trading at $0.00002732.

SHIB Burn Rate Skyrockets by 49,646%

According to the aforementioned data source, Shiba Inu's (SHIB) daily burn rate skyrocketed last night, making it the second-largest cryptocurrency based on dogs by market valuation. There have been an astounding 175,311,356 SHIB coins transferred to unspendable blockchain addresses, increasing this measure by a staggering 49,646%, according to a recent tweet.

Five burns have occurred thus far, with the largest one releasing 169,287,021 SHIB into the burn portal. Not one, not two, but three of them burned 4,023,335 SHIB meme coins—twice by one million.

Nonetheless, the weekly burn rate is presently hovering around zero, which is considered negative. The burn rate reading has decreased by 69.49% during the past week, while the Shiba Inu community has successfully disposed of 195,050,744 SHIB.

Shytoshi Kusama Warns of FUD Spreaders

Shytoshi Kusama, a pseudonymous SHIB head developer, shocked the community on Friday with a series of tweets posted to their X feed. There was a brief thread when the SHIB leader attacked anyone who spread false information, claiming he had switched to "fudder roaster mode."

Nobody in particular was mentioned by Kusama. But he did note that these negative actors frequently take down their tweets after spreading false information about Shiba Inus: “Watch them delete messages. Now I will screenshot b4 I roast. Go ahead... use all your alts.”

Following that, Shytoshi informed the community of a few things: first, that Shiba Inu is still the most valuable token on the Ethereum network. Second, that the highly anticipated TREAT token, which will be an integral part of the Shiba Inu ecosystem, has not been launched just yet.