In a tweet published earlier today, the Shibburn platform reported that over the past day, the SHIB community was able to dispose of a significant number of meme coins, permanently removing them from circulation.

Meanwhile, the SHIB price showed an impressive overnight jump, temporarily regaining the $0.0000228 level.

Burning rate exceeds 104% line

Data released by Shibburn shows that over the past day, the SHIB community was able to burn 19,291,423 SHIB by transferring them to non-spendable wallets. This helped the burn rate record a massive increase of over 104%.

However, data from the Shibburn website shows that the actual number of meme coins burned is slightly higher at 26,221,803 SHIB. This 104% jump in burn rate was achieved in less than 10 transactions, with the largest ones having 11,856,938; 8,910,223; 4,995,759 and 1,754,972 SHIB coins.

HOURLY SHIB UPDATE$SHIB Price: $0.00002206 (1h 0.58% ▲ | 24h 3.18% ▲ )Market Cap: $12,940,859,507 (2.54% ▲)Total Supply: 589,256,901,997,147TOKENS BURNTLast 24 hours: 19,291,423 (104.25% ▲)Last 7 days: 86,633,313 (-15.78% ▼)

— Shibburn (@shibburn) January 16, 2025

The tweet also revealed weekly SHIB burn data. According to it, the SHIB army has burned 86,633,313 SHIB over the past seven days. However, the burn rate has dropped by almost 16%.

SHIB price increased by 8.33%

Over the past 24 hours, the second most popular meme-inspired coin, Shiba Inu, has seen rapid growth of approximately 8.33%, rising from $0.00002108 to a local high of $0.00002280.

It rose, SHIB formed a large green candlestick on the hourly chart, contributing to a 4.31% gain, helping to achieve half of the total 8.33% gain.

SHIB is currently down about 4% and is trading at $0.00002193. During yesterday’s rally, the popular meme coin followed the price trajectory of the world’s leading cryptocurrency, Bitcoin, which temporarily topped $100,000.

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Shitoshi Kusama warns the community

Earlier this week, the mysterious lead developer of Shiba Inu, known by the pseudonym Shitoshi Kusama, took to his official X account to warn the SHIB community about potential scam threats. Kusama retweeted a tweet about the launch of the new Shiba Inu ecosystem token, TREAT. The launch took place on January 14th on several large and small centralized exchanges, such as Kraken, MEXC, BitGet, and SuperEx.

Kusama warned the SHIB community to avoid fake TREAT tokens, which many scammers have begun offering in an attempt to capitalize on the launch: “Don’t fall for the bait.”

#BinanceAlphaAlert #AIAgentFrenzy #Binance #shiba $SHIB