Recent research indicates that Dogecoin, the original joke cryptocurrency, continues to lead the market for meme currencies. The devoted DOGE community’s participation on several social media platforms is the primary indicator of its continuous superiority over them.
Here, SHIB currently trails Dogecoin in the rankings once more. The official Shiba Inu marketing lead—who goes by Lucie—shared a schematic on Friday. It demonstrates that among meme cryptocurrencies, SHIB has taken back the second spot in terms of social engagement. DOGE continues to hold the top spot without challenge.
https://x.com/LucieSHIB/status/1826979048829956498
SHIB burn rate down in red
According to a well-known Shibburn blockchain tracker, the SHIB community has been moving Shiba Inu meme currencies to dead-end digital wallets for the past 24 hours. Their level of activity hasn’t been sufficient, though, to maintain the daily burn rate in the green.
As of this writing, 4,800,831 SHIB worth of meme coins have been burned in the previous 24 hours, and the burn rate reading is negative 83.19%.
Shibburn has discovered seven transfers so far that have transferred about 5 million SHIB to blockchain addresses that cannot be used. The most recent ones—1,474,062 and 1,023,604 Shiba Inus—carried the most quantities of SHIB out of circulation to yet.
On Shibarium, the SHIB team just executed a hard fork. A new burn mechanism was incorporated as part of it. It enables the group to burn a portion of the petrol fees on Shibarium that are automatically converted from BONE tokens to SHIB.
SHIB team shares important statement
To let the community know how the SHIB team assesses initiatives before supporting or partnering with them, Lucie tweeted on Friday. The tweet states that the primary consideration here is the liquidity—or value—they add to the Shibarium chain.
https://x.com/LucieSHIB/status/1826922177645473898
Respect for the Shiba Inu trademark and destroying SHIB coins or using them in dApps to increase acceptance are the next two things to consider. New ventures should also “promote themselves positively and share accurate information while respecting the canine code of conduct,” which is another crucial point.” Lucie emphasised that avoiding creating “trash coins” is also very important in this situation. She made the observation that “many are frustrated by new ‘trash coins’ that exploit our community,” implying that ventures that use those resources are not welcome on Shibarium.
