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Shiba Inu Burns 537 Million SHIB as Burn Rate Surges 3484%
- Shiba Inu burned over 537 million SHIB in 24 hours, causing a 3,484% surge in burn rate.
- A single anonymous wallet incinerated over 310 million tokens, contributing significantly to the burn frenzy.
- Shiba Alpha Layer was introduced, symbolizing the shift from meme coin to a utility-driven ecosystem.
- The SHIB community's commitment to decreasing the token supply led to a remarkable increase in burn rate.
- Five transactions were responsible for destroying 537,187,730 SHIB, with a notable portion burnt by an anonymous wallet.
- The weekly burn rate rose by 481.17%, with a major portion attributed to the massive burn on Friday.
- Despite the significant burn, SHIB's price recovered by 5% post Friday's dip, potentially due to increased community engagement.
- Shytoshi Kusama, Shiba Inu's lead developer, hinted at an upcoming AI whitepaper release, fueling excitement.
- Kusama’s message highlighted the project’s move towards artificial intelligence integration.
- Shiba Inu also unveiled the Shiba Alpha Layer as a Layer-3 scalability solution on the Shibarium blockchain.
- The token's transformation includes token burns, price recovery, updates on Shibarium, and impending AI whitepaper release.
- Community efforts reflect a vision of utility, decentralization, and deflationary mechanisms for Shiba Inu.
- The market anticipates the lasting impact of these developments on SHIB's value.
- Shiba Inu's continued evolution suggests a strategic shift towards becoming a more utility-driven ecosystem.
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