Shiba Inu Burn Rate Increased by 70x

The meme-inspired cryptocurrency Shiba Inu (SHIB) has witnessed an unprecedented rise in burn rate, with a staggering 7,000 percent increase. This triggered a notable 10 percent increase in market value and price in one day. While the SHIB community is following these developments with interest, lead developer Shytoshi Kusama has recently revealed exciting future plans, including the release of Shibarium and the highly anticipated “Worldpaper.”

The burn rate is currently up 6,936.88%, indicating a rapid decline in token supply. A staggering $341,504,230 of SHIB tokens have been burned in the past 24 hours. This resulted in a notable increase in market capitalization, which is currently $4,811,489,983, representing a 10% increase. In addition, the price of SHIB also increased significantly, with a current value of $0.00000809 reflecting an increase of 8.53 percent. Coinmarketcap shows it has risen as much as 22.24 percent in the past seven days.

Shib lead developer Shytoshi Kusama shared an exciting update via a blog post. On the blog, Shytoshi mentions that a new project, Shibarium, is in the works. Also, one or two surprises are expected to be announced before the Shibarium launch.

The highlight of the blog post is the mention of the upcoming “Worldpaper”. Shytoshi describes it as a comprehensive document that will cover various aspects of the Shib ecosystem. It will cover the ecosystem’s tokens, products, platforms and services, including Shib, Bone, Leash, Treat, Shhhhh-i and more. Shytoshi explains that Worldpaper differs from previous Woofpaper in its focus: “Changing (preferably saving) the WORLD through decentralization.”

It serves as the first part of a farewell note from Shytoshi, as his positions will become redundant once multi-token governance is established, Ryoshi checklist items are completed (including Shibacon), and various initiatives such as Shiba Eternity Game, F&B, AI, Daos, and Shibarium.