Recent data from Shibburn revealed a significant surge in SHIB burn rate, indicating a substantial increase in the number of permanently destroyed coins.
Burn Rate Surge by 8,089%
Data from Shibburn indicate an 8,089% increase in SHIB burn rate in the past 24 hours. During this period, over 1,002,950,045 SHIB were burned, with the majority gone in a single transaction. Overall, 11 burn transactions were executed. The Shibarium Updates account highlighted this initiative, stressing its grassroots nature.
New Initiative and Future Plans
Shiba Inu marketing lead Lucie announced an upcoming burn of 27,000,000 SHIB. She emphasized that the team allocates 70% of transaction fees to burning SHIB via Shibarium. Once 1,000 BONE are collected, they're converted to SHIB and also burned.
SHIB Suitable for ETF
Lucie expressed confidence that SHIB is robust enough for creating an ETF. She pointed out that the coin is listed on over 110 cryptocurrency exchanges and available in 212 trading pairs. In her opinion, even boomer investors might take interest in SHIB.
The recent increase in the burn rate and the mention of potential ETF creation highlight the significance and relevance of SHIB in the modern crypto markets.
