Shiba Inu has witnessed a 700% surge in its burn rate, accompanied by optimistic remarks from Shytoshi Kusama during the Token2049 event in Singapore.
The SHIB token initially experienced an increase above 9%, but is presently trading with a 0.18% decline during the past 24 hours. The recent increase in burn rate has eliminated 15 million SHIB tokens from circulation, prompting the market to expect additional gains.
A majority of the incinerated SHIB was transmitted to an unspendable blockchain address in a singular transaction, although two more transactions collectively transferred around 100,000 SHIB to inactive wallets.
Altcoin Buzz forecasts a 36% surge, indicating that SHIB may attain $0.00002 if the present pace persists. Shytoshi Kusama’s remarks on X following the event have revitalized the market, along by speculation regarding a possible collaboration with Tron DAO.
Kusama was observed with a card inscribed “Tron DAO,” displaying the Tron blockchain emblem, while Justin Sun, the founder of Tron, participated in the cryptocurrency conference as a sponsor.
At the time of reporting, 583,494,740,394,717 Shiba Inu coins are in circulation, while 410,728,825,806,575 SHIB are secured in inactive wallets.
