Shiba Inu, one of the world’s top meme coins by market capitalization, is back in the news with a major update. Despite the recent significant decline, the memecoin price has shown remarkable resilience, defying market norms and maintaining an upward trend above the key resistance level at $0.00002315 at the time of writing. Masu.
Driving the token higher is the staggering 1009% increase in Shiba Inu burn rate revealed in the past 24 hours, with 29.11 million SHIB destroyed. This significant increase in token burn rate is designed to strengthen the economics of SHIB, focusing on the design and distribution of native digital tokens and shrinking supply.
A sudden increase of 1009%!
As SHIB’s burn rate increased by 1009%, the price trajectory maintained its upward momentum in line with the overall market trend. With this, SHIB reached the $0.000025 level once again today, drawing significant investor curiosity into Shiba Inu for its optimistic future price action.
Despite 211 billion coins being sold by wallets in the past day, Shiba Inu has shown resilience.
Coinglass also revealed $90.39,000 worth of SHIB liquidations that eased selling pressure.
Meanwhile, the Shiba Inu crypto community also recently made a hard fork upgrade to Shibarium, promising faster transactions and “predictable” gas fees for everyone. A hard fork upgrade means splitting an existing blockchain in two, with the old blockchain remaining and the new blockchain moving forward. This upgrade cannot be undone.
In particular, the rally after the BTC halving, where altcoins follow the upward trend of BTC, could also bring remarkable profits to Shiba Inu.
Lucy’s message before SHIB burns
In a recent post on X, Lucy, Shiba Inu’s head of marketing, highlighted the importance of increasing community involvement and SHIB burn efforts. She said the developer and Shaitoshi Kusama are not the keys to the burn because they do not have the tokens.
The community drives burn-through actions such as writing tokens and transactions. The Shiba Inu community said he has burned over 1.69 billion tokens throughout April, which is short compared to March’s 15.64 billion tokens.
Lucie highlighted the community’s goal of reaching important price milestones such as $0.01. She emphasized the importance of unity and collective efforts to achieve the goals set by the Shiba Inu Project.
