According to U.Today, the Shiba Inu community has significantly increased the burn rate of the SHIB meme coin. Data from the Shibburn explorer reveals that over the past 24 hours, 40,067,872 SHIB meme coins have been disposed of. Although the quantity of tokens burned is not extraordinary, the burn rate has seen a substantial increase of 2,076%. The largest burn of the meme cryptocurrency occurred 14 hours ago, with 20,000,000 SHIB being destroyed. Another significant burn happened two hours ago, with 1,693,629 SHIB transferred to an unspendable blockchain wallet.
In other news, Shiba Inu's marketing lead, Lucie, recently shared a list of upgrades set to be launched on Shibarium in 2024 and 2025. These include the SHIB Metaverse, another version of the Shiba Eternity game, and ShibaSwap DEX 1.75, with version 2.0 to follow. New projects planned for Shibarium include a layer-3 testnet and the TREAT token, which will power a new blockchain running on top of Shibarium. To initiate the construction of the layer-3 solution, the SHIB team has raised $12 million from major investors.
Despite these positive developments, the SHIB meme coin has not performed well in terms of price. Over the past 24 hours, the second largest meme cryptocurrency has lost approximately 10.39%. At the time of writing, SHIB is trading at $0.00002458.