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SHIB Burn Rate Jumps 252% on Exciting Ecosystem Developments

4 d ago2 min readOther
SHIB Burn Rate Jumps 252% on Exciting Ecosystem Developments

According to the Shibburn website, the Shiba Inu burn rate was demonstrating an increase of 252% in the last 24 hours.

However, only 23,735,647 SHIB were burned. Positive news has been coming in lately, thrilling the Shiba Inu community.

In recent days, Travala, a crypto-friendly travel platform, and Bitpoint, a top Japanese crypto exchange, announced treats for the Shiba Inu community. Users who book on Travala using SHIB will receive a free $25 travel credit to use on any of the more than three million hotels and flights on the website.

To the joy of the Shiba Inu community, cryptocurrency exchange BitPoint Japan announced it would list SHIB at the end of November, making it the first major Japanese exchange to do so. Bitpoint announced rewards for SHIB users, saying it will give new users one million Shiba Inu tokens as gifts.

Also, the exchange launched a social media campaign to celebrate its SHIB listing, with millions of SHIB to be given out as rewards.

At the same time, SHIB's lead developer, Shytoshi Kusama, posted a mysterious tweet that contained only the interjection "WOOF," commonly used by the community when something exciting happens.

This, in a way, stirred up expectations as the SHIB community replied excitedly; some even responded, "Shibarium."

Whales are not left out of action

According to WhaleStats data, SHIB currently ranks among the top 10 purchased tokens among the 500 biggest ETH whales in the last 24 hours.

SHIB is up 1.15% and is currently worth $0.000009 per token, down 89% less than its all-time high. SHIB is the 15th largest cryptocurrency in the world with a market cap of $4.96 billion, according to data from CoinMarketCap.

In 2021, SHIB's market worth exceeded $41 billion briefly, making it more valuable than several S&P 500 corporations.

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