Despite the fact that the Shiba Inu price is still negative and continues to show a sharp decline on a weekly basis, the SHIB army has now been able to boost SHIB burns.
Recent data posted on the Shibburn website indicates that the burn rate has increased by about 1,000% following several days in a row where it was hanging below zero and in the deep red zone.
SHIB burn rate up 945%
The Shiba Inu community has made great strides in lowering the supply of their preferred meme money in circulation over the past 24 hours. The SHIB burn rate surged by 945.5% as 7,825,621 SHIB were burned in total, compared to just 748,502 coins being destroyed the day before.
The cumulative weekly count of SHIB that have been burnt is presently very close to 300,000,000 meme coins. Additionally, this is a huge decrease from the numbers that were seen a few weeks ago, when the Shiba Inu community was burning between one and two billion SHIB every week.
SHIB price performance
After a 30% decline over the weekend in response to news that the SEC had filed charges against the cryptocurrency exchanges Coinbase and Binance, the price of Shiba Inus is still in the negative territory.
The meme currency fell another 6.72% on March 14 after briefly rising to the $0.00000693 mark, and as of right now it is trading at $0.00000657 following a slight 1.86% increase.
Shytoshi Kusama stirs up SHIB community
Shytoshi Kusama, the fictitious commander of Shiba Inu, stirred up the SHIB army on Wednesday by tweeting something that may be described as intriguing. The Shiba Inu emblem and the tagline from Kusama’s tweet were also featured in the brief film, which read: “Something physical is coming.”
The Shiba Inu team member @LucieSHIB also tweeted that “something physical” concerning SHIB was about to happen. Her tweet included an image of a piece of fabric with the word “Shiba” inscribed on it.
Despite the fact that this tweet from Shytoshi Kusama doesn’t seem to make any specific promises, it fit the approach of being enigmatic adopted by the unnamed chief developer of SHIB for his image and for promoting Shiba Inu and the Layer 2 protocol, Shibarium.
The SHIB army is currently speculating about what this fresh communication from Kusama may indicate and what “physical” thing might be on the way.
