According to data provided by Shibburn, over the past day, the SHIB community managed to dispose of a mammoth amount of SHIB, which surpassed one billion meme coins.

In the meantime, the SHIB price is breaking out, reaching the $0.00002606 level it was rejected from on Thursday.

1.2 billion SHIB gone for good

The data source mentioned above revealed on its website that over the last day, the SHIB burn rate has displayed a massive increase of 2,050%, while a staggering amount of meme coins was transferred to an unspendable wallet — 1,282,587,181 SHIB in total.

This tremendous burn was possible thanks to a single transaction performed by an anonymous cryptocurrency wallet as it disposed of 1,003,266,585 Shiba Inu. In terms of transaction size, the other impressive transfers moved 209,312,491; 33,737,678 and 29,282,316 SHIB. There have been 14 transactions to dead-end wallets overall.

🔥🔥🔥 1,003,266,585 -> transferred to dead wallet. https://t.co/PF9nuvHs2A

— Shibburn (@shibburn) November 29, 2024

Shytoshi Kusama aims to make SHIB top five coin

In a recently issued tweet, the mysterious SHIB lead developer Shytoshi Kusama shared his intention to take Shiba Inu meme-inspired cryptocurrency (the largest one by market capitalization size after Dogecoin at the moment) up the CoinMarketCap scale to boost it to the top 5 from the top 15.

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Kusama published a tweet with an AI-generated image depicting a scene in a religious and/or apocalyptic style, with a huge white hole in the middle and numerous people circulating around it as if they are flying. There is also a man in the image sitting in front of that apocalyptic painting at a huge desk with a big hole in the middle of it, with tons of papers and files scattered around it on the desk, showing similar chaos around him as in the painting.

Shytoshi tweeted that this is very close to what it feels like “trying to give utility to a memecoin and take it from top 15 to top 5. In less than 5 years... without a huge budget.”

In a comment to another tweet, Kusama confirmed that he was talking precisely about Shiba Inu, sharing that the aforesaid tweet was “An aspiration. A goal” for him. Currently, Shiba Inu boasts that it sits in 14th place on CoinMarketCap’s scale, with a capitalization of $15.26 billion. The meme coin is changing hands at $0.00002589.