Shiba Inu (Shiba) news

Shibburn Transactions Update: Positive Shift in SHIB Burning Rate Raises Questions Within the Community”

The latest update on Shibburn transactions reveals a positive shift in the SHIB burning rate. Despite a rebound in SHIB prices after the overnight surge, the mentioned metric has seen a notable increase. This development prompts some members of the SHIB community to inquire whether the transition to automated SHIB forks remains on the agenda.

SHIB Burns Surge by Approximately 128%, Yet Questions Mount: According to the aforementioned data source, the SHIB burning rate increased by approximately 127.41% over the past 24 hours. Within three transactions, a total of 17,393,421 SHIB tokens were burned. Interestingly, almost all of these SHIB tokens, totaling 16,392,146 SHIB, were burnt in a single transaction, carrying 16,392,146 SHIB Inu tokens.

Friday’s metrics, however, showed a significantly lower amount of SHIB burned, totaling 7,650,000 SHIB Inu tokens. These recent increases coincide with a 16% weekly rise in BONE prices, and some Shibarium metrics indicate modest upticks. Nevertheless, there have been no recent burns conducted by the Shibarium team.

Concerns and Speculations: A tweet from the prominent SHIB account @ShibBPP raises questions about whether the Shibarium team continues to accumulate BONE from transaction fees on the blockchain to burn SHIB later or if there is a “temporary pause during the transition to automated forks.” The concern stems from the limited growth in the accumulated BONE within Shibarium, currently not exceeding 1,081,625.

As shown in the attached screenshot of the tweet, there are now approximately 1.4 million BONE tokens accumulated for SHIB burns, equivalent to $882,919 USD.

Shitoshi Kusama’s Visit to the Bitcoin-Friendly El Salvador: As previously reported, the location tag “X” of Shibarium’s lead developer, Shitoshi Kusama, indicates his current presence in El Salvador. This small nation declared Bitcoin as its sole national currency in 2021, excluding any physical or alternative currencies (except USDT). If true, Kusama’s visit to this country sparks curiosity and raises questions about his activities there, as Bitcoin advocate Max Keiser believes all altcoins, including Ethereum, are metals and securities.

READ MORE Shiba Inu Witnesses Significant Whale Activity: Exploring Surges in Token Flow”

Conclusion: The recent positive shift in SHIB burning rates and Shitoshi Kusama’s unexpected visit to El Salvador add an intriguing layer to the unfolding narrative within the SHIB community, prompting speculation and discussions about the future of SHIB transactions and Shibarium’s involvement.

Important Notice: Disclaimer Regarding Financial Advice
The information presented in this article is intended solely for informational purposes and should not be considered as financial advice. disclaims any responsibility for investment decisions made by individuals relying on the information provided herein. It is highly recommended to consult with a qualified professional or financial advisor before making any investment decisions. Your financial well-being is crucial, and seeking expert guidance ensures that your investment choices align with your individual financial goals and risk tolerance.

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