SHIB Experiences Surge in Burns Following Shiba Inu Team's Hard Fork
Data from the Shibburn meme coin wallet tracker indicates a significant increase in SHIB burns since yesterday morning, driving the burn rate up sharply. This surge occurred after the Shiba Inu team executed the first hard fork on its layer-2 blockchain, Shibarium.
The burn rate skyrocketed by 616.15%, marking a 15x increase, within the last 24 hours. Notably, a single transaction contributed to this surge, with the SHIB community transferring 18,663,708 SHIB to unspendable blockchain wallets. The largest transaction, occurring roughly an hour ago, sent 14,943,135 SHIB to a dead address.
In a recent revelation, Lucie, a marketing expert from the SHIB team, shed light on a major burn strategy by the enigmatic founder Ryoshi. Responding to queries about SHIB burns, Lucie explained that Ryoshi burned his keys to the SHIB supply, limiting his ability to send tokens. This action underscores the principle that tokens must be purchased before they can be burned, as emphasized by the team insider during a conversation with a community member.
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Additionally, the SHIB team announced the completion of a hard fork on the Shibarium blockchain via a recent tweet. This upgrade promises faster transactions and predictable gas fees for users.$SHIB
