According to recent data on the Shibburn tracking website, the percentage count of burnt SHIB has increased dramatically since yesterday morning in comparison to the day before.
Shibburn has reported on two significant burn surges this week; the first occurred on Tuesday and resulted in the destruction of over 100 million SHI
Meanwhile, SHIB showed a little decrease over the previous day.
Burn rate jumps 4,240%, here’s how much SHIB removed
The previously cited source claims that in the last 24 hours, the SHIB community has burned 15,712,916 Shiba Inus and increased the burn rate by 4,240%.
This time, the two largest transactions contained 7,331,125 SHIB and 5,574,136 SHIB, which meant that almost all of the 15.7 million coins were burnt in these two transactions.
SHIB team announces New Burn Era as Puppynet transitions to Sepolia
The Shiba Inu development team has started moving the Shibarium testnet Puppynet from Ethereum’s Goerli network to Sepolia, which is also based on the second-largest cryptocurrency blockchain created by Vitalik Buterin and his associates, as was previously reported this week.
In addition, the SHIB development team, led by the enigmatic Shytoshi Kusama, has proclaimed the start of a “new burn era” for Shiba Inu and initiated testing of a revolutionary new method for burning SHIB coins.
An article in the most recent issue of Shiba Magazine claims that the new mechanism is essential to Shibarium’s economic model since billions of Shiba Inus are meant to burn through it. A blog post from December states that one thing that is known about the new SHIB burn models is that SHIB burns in it will transition from a manual mode to an automated one on Puppynet.
more benefits of the move from Goerli to Sepolia include several more enhancements to Shibarium, which will enhance transaction speed, enhance smart contract functionality, and enhance user experience, among other things.
Trillions of SHIB on move
As previously reported, Whale Alert saw a large transaction of 4,276,568,835,013 SHIB being shovelled from Bitvavo, a significant cryptocurrency exchange.
The value of this massive SHIB transfer was an astounding $37,950,271. In the end, it turned out to be an internal move.
