This increase was followed by the removal of a substantial amount of meme coins as they got permanently pushed out of the circulating supply. This coincided with a large SHIB price upward movement as it surged by roughly 10% overnight.
Thanks to burning that large SHIB amount, the Shiba Inu burn rate metric surged by an impressive 2,133%. Nearly all of the aforementioned SHIB chunk was destroyed in a single transfer, which carried 31,483,015 SHIB to an unspendable blockchain wallet. Two other large transfers moved 1,000,000 and 1,259,569 SHIB to the same destination.
During the last days of December, Shytoshi announced the launch of his personal podcast, which will consist of 44 episodes, where he will talk to the community about the tech stuff the SHIB team is building, what has been launched already and what they plan to release soon. Kusama also tweeted that 2025 will be “epic.”
SHIB has mirrored the recent price action demonstrated by Bitcoin as the world’s largest cryptocurrency spiked by 3%, rising from $96,000 to the $98,950 level briefly. Currently, BTC is trading at $97,950 after a marginal retrace.
This article was originally published on U.Today
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