Shytoshi Kusama, the pseudonymous SHIB lead, has taken to his official account on the X social media app (widely famous as Twitter in the past) to deliver a mysterious message to the global Shiba Inu community.
Kusama posts bullish anime GIF as SHIB breaks out
In line with his general style, largely based on Asian culture - and Japanese culture in particular, resembling a bright mixture of Eastern philosophy and anime - Kusama published an anime GIF. In this animated image, the character looks at the screen of his smartphone and smirks.
This seems to be showing Kusama’s satisfied and bullish mood as the price of the Shiba Inu meme coin is currently breaking out; over the last 24 hours, the second largest canine-themed cryptocurrency in terms of market capitalization value has surged by mind-blowing 27.3%.
pic.twitter.com/hK5PDBZ91N
— Shytoshi Kusama™ (@ShytoshiKusama) September 26, 2024
SHIB has by now reached the $0.00001917 price level, thus getting close to burning another zero from its current price.
In terms of price, SHIB is following the world’s largest and earliest cryptocurrency, Bitcoin, which boomed by 4% overnight and skyrocketed from $62,900 to above the $65,400 level today.
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SHIB burns show crazy overnight growth
In a related development, one of the key Shiba Inu metrics has demonstrated a staggering surge over the past 24 hours as well - the SHIB burn rate, based on data shared by Shibburn.
Since yesterday morning, the SHIB army has managed to dispose of a mammoth amount of coins – 1,884,288,401 SHIB. This comprises a 33,818.39% increase overnight. Over the past year, such massive SHIB chunks were burned only by one entity in a single go - that is, by the SHIB developer team.
Image via X
Since the recent hard fork on Shibarium rolled out in August with a new Bor component, a new automated burn mechanism has been functioning. As part of it, a portion of the gas fees on Shibarium paid in BONE are set aside and then automatically converted into SHIB in order to get burned, i.e., transferred to unspendable blockchain addresses and locked there forever.
In total, there have been eight burn transactions in the past 24 hours, according to Shibburn. The largest one destroyed 1.8 billion SHIB coins, while the largest ones among the remainder carried 2,839,000 and 5,040,479 SHIB. There were also three burn transfers worth approximately 1,000,000 SHIB.
