Will the Shiba Inu Team Execute a 10T SHIB Burn in March?

• Nearly 13.6 billion Shiba Inu (SHIB) tokens have been burned in the last 24 hours. 
• The SHIB team emphasized burning 10 trillion SHIB every month in 2024.

Shiba Inu, the second-largest memecoin by market cap, has seen a surge of over 22445% in its 24-hour burn rate. This surge occurs as an aftermath of the SHIB team’s massive burn of 13.4 billion SHIB, worth $466K at current prices, in the last 12 hours. 

Source: Shibburn

On X, Shiba Inu’s lead marketer Lucie confirmed the burn of the ecosystem’s three tokens — SHIB, BONE, and LEASH — through four large transactions via ShibaSwap in the last 12 hours. 

SHIB During the Memecoin Season

Memecoins—both dog-themed and frog-themed—from Ethereum and Solana networks have topped the headlines everywhere in the crypto realm with their incredible rallies. Remarkably, the price of Shiba Inu pumped 274.45% over the past month, bolstering its spot in the top 10 large-cap cryptocurrencies in the world.

As expected, the surge in burn rate did not cause any uptick in the memecoin’s price. At the time of writing, SHIB traded at $0.00003443 after a decrease of 1.43% in the last 24 hours. Currently, there are 589.29 trillion tokens in circulation with a market cap of $20.38 billion, as per CoinMarketCap.

Meanwhile, the Shiba community anticipates witnessing yet another event — the listing of BONE on Binance. Currently, BONE stands as the third most-voted token on the exchange’s Futures Next voting platform. Lead developer Shytoshi Kusama is up on the move to urge their community to catalyze the process with higher votes.

Disclaimer: This article is for informational purposes only. It is not intended to be, nor should it be construed as, investment advice, financial guidance, or a recommendation to make any specific decisions. Readers are encouraged to conduct their research.