Major SHIB Metric Soars 7,334% As Team Announces Crucial Update Coming This Week

The crypto wallet tracking platform Shibburn spreads the word about an increase in one of the key Shiba Inu metrics. Overnight, the burn rate has demonstrated a massive four-digit surge with several million meme coins destroyed.

That happened while the SHIB team teased that a crucial Web3 upgrade for one of the main Shibarium products is expected to launch this week.

SHIB burns skyrocket by almost 7,400%

According to Shibburn, the Shiba Inu army has succeeded in pushing the burn metric 7,334% up after they had burned a total of 2,376,919 SHIB coins.

There have so far been five burn transactions noticed and the largest ones among them shifted 1,000,000 and 897,397 SHIB out of the circulating supply.

HOURLY SHIB UPDATE$SHIB Price: $0.00001669 (1hr -0.27% ▼ | 24hr -3.09% ▼ )
Market Cap: $9,842,802,944 (-2.81% ▼)
Total Supply: 589,272,223,082,287

TOKENS BURNT
Past 24Hrs: 2,376,919 (7334.38% ▲)
Past 7 Days: 70,449,169 (-47.83% ▼)

— Shibburn (@shibburn) July 30, 2024

By burning tokens, the number of SHIB that remain in circulation gradually becomes reduced. However, so far the circulating supply of the second biggest meme-inspired coin by market capitalization size constitutes 583,409,479,610,457 from the initial one-quadrillion supply. 410,727,776,917,712 SHIB have been destroyed by now and the majority of those trillions of coins were scorched in a single massive transfer by Ethereum co-founder Vitalik Buterin in May 2021 after the enigmatic SHIB creator Ryoshi presented Buterin with half of the Shiba Inu supply.

The Shiba Inu price is seldom impacted by SHIB burns, no matter how big the coin amounts are that get destroyed. This time, the coin declined by 3.33% and then made a small upward move, rising by a tiny 1.21%. At the time of writing this material, the meme cryptocurrency is changing hands at $0.00001680.

SHIB game upgrade to land this week

On Monday, the official SHIB marketing lead Lucie announced on her X account that this week a new, Web3 version of the popular Shiba Eternity smartphone game is expected to come out on the Shibarium network. The “this week” timing she mentioned came from the Angel developer of the Shiba Games team.

In order to gain access to the new version of the game, players will be required to stake LEASH tokens. Lucie said: “It offers players an exclusive entry into the game and aligns them with the ShibArmy elite.” Once the game is launched, users will need to hold at least one Shiboshi, Sheboshi, or Shiba Eternity Lore non-fungible token to access it.

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