3 months ago 1 min read

Burn Rate of the Shiba Inu Increases by Over 13,100% as the Year 2022 Ends

shiba inu-kusama

In total, 5 different transactions totaling an astounding 302,506,518 (302.50M) SHIB were made by the Shiba Inu Community in the last 24 hours.

297.29 Million SHIB Burned from Mysterious Wallet

The SHIB was recently torched by the enigmatic wallet.

According to Etherscan.io, the unknown wallet made a huge transaction around 8 hours ago that involved sending 297,290,339 (297.29M) SHIB, which is worth $2,390, to the "inferno" addresses. The enormous burn leaves the unknown wallet with zero SHIB.

The aforementioned burn transaction led to a 13198.08% increase in Shiba Inu's burn rate over the previous day.

Shytoshi Kusama, the lead developer for the Shiba Inu breed, had good news for the community this year despite the severe burns. Kusama indicated that developers are close to releasing the beta version of the eagerly anticipated Shibarium - Layer 2 Solution along with the Unification XFUND team. According to Shytoshi Kusama, the launch of Shibarium Beta will take place "very soon" once all the necessary components have been aligned and completed.

On the other side, SHIB Trophias, one of the top SHIB developers, asserts that they will first produce Shibarium documentation. The team will then attempt to release Shibarium Beta.

Shiba Inu is currently trading at $0.000008043, down -0.88% from the previous day, with a $79,673,161 ($79.67M) 24-hour trading volume.

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