Shiba Inu (SHIB) recently had a huge burn rate surge despite the fact that few tokens were burnt. Shiba Inu’s burn rate increased by 14,267.59% in the last 24 hours, according to the SHIB Burn tracker.
According to SHIB Burn, in the last 24 hours, about $14.07 million tokens — worth around $155 at the time of writing — were delivered to dead wallets.
The greatest burn transaction on the last day was around 9.8 million SHIB. Furthermore, the day before, just 97,991 tokens were burnt.
The tokens were burned in six separate operations, with the bulk of tokens burned by a single wallet. In one transaction, this wallet consumed 19.2 billion SHIB. However, the total turn rate has now plateaued due to the lack of significant burns.
Shiba Inu has gained traction as a result of the recent market rebound. According to CoinMarketCap statistics, SHIB is trading at $0.000011 at the time of writing, up 7% in the last 24 hours.
SHIB’s market capitalization has also surpassed $6 billion for the first time in 17 days.
The price movement occurs after the Luxembourg-based cryptocurrency exchange Bitstamp launched the second largest meme coin – top 14 cryptocurrency — for US users.
So far around 410.4 trillion, SHIB were burnt. This statistic also includes the amount burnt by Ethereum founder Vitalik Buterin when about half of the total Shiba Inu supply was transferred to his wallet.
SHIB Metaverse Upgrades
The second largest meme coin is currently working on its own metaverse, a.k.a the SHIB Metaverse.
Recently, the SHIB Metaverse team has presented fresh concept art for the future virtual SHIB-themed environment. Meanwhile, SHIB’s popularity continues to grow, providing the meme coin with new applications.
On Twitter, the virtual reality initiative is already sharing concept art for Shiba Inu’s upcoming Metaverse.
According to a recent blog post, the SHIB Metaverse team has unveiled concept art for Dunes, a new metaverse center. THE THIRD FLOOR visualization studio is collaborating on the creation of the metaverse.
The concept image for the Dunes hub (a piece of land in a metaverse reserved for purchasers or released for free at launch) depicts a landscape full of sand mounds and oases. Those have a very modern appearance — generally that of dazzling buildings — and create the impression of being protected in the dunes and remaining in a shelter after overcoming a barrier.
Real State Platforms Going With Shiba Inu
On October 21, leading cryptocurrency payment gateway BitPay announced two new collaborations to expand cryptocurrency popularity.
It now has two significant real estate firms on its roster of partners – Pacaso and Condos.com – that have begun taking crypto for their services, namely Shiba Inu meme currency.
BitPay, in addition to SHIB, allows businesses to accept payments in Bitcoin, Litecoin, Bitcoin Cash, DOGE, Wrapped Bitcoin, and other coins.