Influence of SHIB Burn on Shiba Inu Price Momentum

Besides the 565% increase in whale net flows, other factors have pushed SHIB’s price higher. Recent data from Shibburn shows an 1837.49% surge in the SHIB burn rate. 463,450,468 SHIB tokens were removed from circulation in just 24 hours.

According to the details, this stunning token incineration resulted from seven burn transactions since November 10. One stood out due to its size: 412,144,084 SHIB. The other top three transactions include 46,754,762 SHIB, 3,000,000 SHIB, and 1,240,000 SHIB transferred to dead blockchain wallets.

Notably, the Shiba Inu network conducts period token burn to reduce supply. Eventually, this leads to higher prices as demand increases.

Shytoshi Kusama and the Elon Musk S.H.I.B Proposal Pitch

In a recent post, Shiba Inu’s marketing expert Lucie highlighted a recommendation from lead developer Shytoshi Kusama. On Sunday, Elon Musk made an X post, asking for recommendations for roles in Donald Trump’s new administration.

Wasting no time, Kusama quickly sold his Strategic Hub for Innovation in Blockchain (S.H.I.B) strategy to the new government. “I think the Strategic Hub for Innovation in Blockchain would be a good start,” Kusama opined.

Backtracking, Kusama informally presented the new venture to the US government following Trump’s election win. The proposal seeks to turn a chosen city into the “Silicon Valley of Crypto” and reinforce U.S. leadership in digital technologies. The plan involved establishing the necessary physical and digital infrastructure, awarding economic incentives, and investing in talent development.