Shibburn, a popular meme coin explorer, has reported a significant spike in the burn rate of Shiba Inu, the second-largest meme cryptocurrency in market capitalization value.

In the meantime, the SHIB price has risen significantly overnight. SHIB increased by about 6% earlier today. However, the expansion was hampered by a slight downturn. Shiba Inu is now trading at $0.00002347.

SHIB burns increase by thousands of percent

The source has supplied information about a significant increase in the SHIB burn rate over the last 24 hours. This noteworthy metric has increased by more than 5,673% since yesterday morning, as per U.Today.

This represents the annihilation of 26,430,838 SHIB in total. The highest single burn occurred 22 hours ago, totaling 24,176,493 SHIB, with the second largest sending 1,000,000 SHIB meme currencies to an unspendable blockchain wallet. In fiat currency, this is worth around $569.

Thus, the percentage increase in burn rate has been 5,803.56%.

Shytoshi Kusama issues a grandiose, cryptic statement

Shytoshi Kusama, the enigmatic leader of the Shiba Inu programming team, posted a cryptic tweet a few days ago that featured only one word, "evita," which means "life" or "a living one" in Spanish, as previously reported by U.Today.

Kaal Dhairya, a prominent SHIB software developer, endorsed Kusama by publishing the same message without commenting or explaining it to the community. Following this, the SHIB army proposed numerous reasons, including one that implies the imminent launch of a new token within the Shiba Inu ecosystem. Neither Kusama nor Dhairya reacted to the speculations.

Some members of the SHIB community feel that Shytoshi and Kaal's enigmatic tweets may refer to the recently completed Shibarium hard fork. This major update went live last week on the layer-2 blockchain constructed by the SHIB team.

The hard fork opened up new opportunities for Shibarium, such as increasing transaction speed and making gas fees "predictable for everyone."

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