Recent data from the Shibburn tracker’s website reveals a significant increase in the percentage of burned SHIB since yesterday morning, marking the second major burn surge this week. On Tuesday alone, over 100 million SHIB was destroyed. Additionally, SHIB has experienced a slight decline over the past 24 hours.
The burn rate has surged by 4,240% in the last 24 hours, resulting in the destruction of 15,712,916 Shiba Inu. Notably, two large transactions accounted for nearly all of the burned coins. One transaction involved 7,331,125 SHIB, while the other involved 5,574,136 SHIB.
The SHIB development team has initiated the transition of the Shibarium testnet Puppynet from Ethereum’s Goerli network to Sepolia, the second-largest cryptocurrency blockchain operated by Vitalik Buterin and his team. This transition will introduce a new mechanism for burning SHIB coins, signaling the onset of a “new burn era” for Shiba Inu. This transition will bring significant upgrades to Shibarium, including higher transaction speeds, improved smart contract functionalities, and an enhanced user experience.
In addition to the transition to Sepolia, Whale Alert recently detected a massive transaction of 4,276,568,835,013 SHIB being moved from the cryptocurrency exchange Bitvavo. This transfer, valued at $37,950,271, turned out to be an internal transfer.
These developments signify the evolving landscape of SHIB and the broader cryptocurrency industry, with significant implications for the token’s ecosystem and its community. Stay updated for more news and insights within the crypto and NFT field.
