Shibburn tracking platform recently revealed that, within the past day, the army of the second most favored dog-themed cryptocurrency has experienced a rise of more than 1,364%. A sum of 9,607,635 Shiba Inu was sent to unspendable wallets, thus taking it out of circulation permanently.
On the fifth day of the week, the SHIB rate dropped below 0, considering less than 1 million Shiba Inus tokens were sent to “inferno” locations.
The rate at which SHIB is losing value has risen in conjunction with the meme coin’s price. Over the last day, the SHIB/USD rate has gone up by 3.31% after taking a dive of almost 16% since Wednesday. Right now, the second biggest meme coin’s trading value is at $0.00001261 on the Binance exchange.
The cost of the token and the rate of burning appear to be connected, as a decrease in price often leads to a decrease in the number of meme coins that are burned.
KURO SHIBARMY JPN (@kuro_9696_9696), a Twitter user, posted a screenshot of their Telegram conversation with the head programmer of the Shiba Inu cryptocurrency, Shytoshi Kusama, on social media.
The screenshot contained a message from an anonymous developer who expressed their concern about the absence of details regarding the unveiling of the Shibarium Layer-2 protocol. They asked why there had been “awfully quiet” news about the protocol, to which Shytoshi simply replied: “Temporarily.”
Shytoshiさんは、「Shibariumのニュースがとても静かだ」というある人への返答として、「一時的なものです」と言いました#SHIB #Shibarium pic.twitter.com/Fb1Rcj81mB
At the start of the year, Shytoshi Kusama intimated that the Layer-2 protocol could be unveiled on either February 10th or 14th. The former is the national Flute Day in Japan, while the latter is Valentine’s Day.
At the beginning of the year, Shytoshi changed his bio so that it included a reference to learning the flute and presenting Shibarium in an object shaped like a heart. This led the online community to surmise that the developer was hinting at February 14th.
No news emerged on Feb. 10 (the previous day). Now, the SHIB army is looking ahead to Valentine’s Day. As reported by U.Today earlier in the week, Shytoshi Kusama answered a query regarding the speculations without either denying or affirming them.
A photo of #Shibarium was shared on Twitter, tagged with #SHIB.
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