1,003,000,000 SHIB in a single hour – what happens?

On December 1, 2024By Littum

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According to data provided by Shibburn, over the past 24 hours the SHIB community managed to dispose of a huge amount of SHIB, which exceeded one billion meme coins.

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

1.2 billion SHIB gone forever

The aforementioned data source revealed on its website that over the last day, the SHIB burn rate has shown a massive increase of 2,050%, while a staggering amount of meme coins were transferred to a useless wallet – 1,282,587,181 SHIB in total.

This huge burn was possible thanks to a single transaction performed by an anonymous cryptocurrency wallet when 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 in total.

Shytoshi Kusama aims to make SHIB top five coins

In a recent tweet, mysterious SHIB lead developer Shytoshi Kusama shared his intention to bring the Shiba Inu meme-inspired cryptocurrency (the largest by market cap after Dogecoin currently) up the CoinMarketCap scale to boost it to the top 5 from the top 15.

Shytoshi Kusama plans to take SHIB to Top 5: Details

Kusama posted a tweet with an AI-generated image depicting a scene in a religious and/or apocalyptic style, with a large white hole in the center and numerous people circling around it as if flying. There is also a man in the picture sitting in front of the apocalyptic painting at a large desk with a large hole in the middle, 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.”

Commenting on another tweet, Kusama confirmed that he was talking exactly about the Shiba Inu, sharing that the aforementioned tweet was “An aspiration. A goal” for him. Currently, the Shiba Inu boasts a 14 .place on CoinMarketCap’s scale with a capitalization of $15.26 billion.The meme coin changes hands at $0.00002589.