SHIB Burn Rate Up as Price Jumps 9.2%, Millions of Shiba Inu Sent to Dead Wallets

5 August 2023

in SHIBA

Reading Time: 2 mins read

Yuri Molchan

Shiba Inu burn rate going up along with meme coin’s price

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Contents

SHIB burns on rise, price soars
Shiba Inu’s LEASH coin boasts new listing

According to a recent tweet of the Shibburn tracker, the SHIB army has transferred nearly 30 million SHIB meme coins to unspendable wallets since last morning.

In the meantime, a major Shiba Inu token has scored a new listing and SHIB itself has demonstrated a rise of 9.24% over the span of the past 24 hours.

Image via TradingView

SHIB burns on rise, price soars

Within the last 24 hours, Shibburn stated, the burn rate of Shiba Inu has gone up by 21.8%, while a total of 28,865,778 meme coins were transferred to “inferno” wallets where they are now locked forever.

The largest burn transaction carried 6,855,028 SHIB to a dead wallet approximately 12 hours ago.

Overall, throughout this week, the SHIB burn rate has been showing positive performance, often going up high above the zero level and not staying in the red zone for a long time.

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SHIB has been printing consecutive green candles since Friday. Over the past 24 hours, the price has surged by more than 9.24%. The second largest meme coin is trading at $0.00000947 on the Binance exchange at the time of writing this article.

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Shiba Inu’s LEASH coin boasts new listing

The official account of SHIB has shared a tweet with the news that one of the Shibarium tokens, Doge Killer (LEASH), has now been listed on the StealthEX custody-free exchange based in the Cayman Islands.

The coin is now changing hands at $530, rising almost 10% in the last 24 hours. Less than a month ago, the coin was also listed on a major exchange Bitrue.

In one of his recent blog posts, the lead developer of SHIB Shytoshi Kusama described LEASH as a token that “governs the protection of the community and offers exclusivity as well.”

LEASH is part of the Shibarium trifecta, which also includes Shiba Inu (SHIB), Bone ShibaSwap (BONE). While SHIB is the main token of the ecosystem, BONE is the governance token of the ShibaSwap DEX and the coin used for paying gas fees on the Shibarium Layer-2 blockchain.