Shiba Inu, known as the “Dogecoin killer,” has been making waves in the crypto market today, and we’re here to find out why.

Shiba Inu, one of the most significant meme coins on the Ethereum blockchain, has been in the news due to its ongoing developments. Today, data from the burn tracker Shibburn shows that SHIB’s burn rate jumped to 70%. In addition, Shiba Inu’s lead developer, Shytoshi Kusama hints at the most anticipated Sheboshi NFT launch. 

SHIB’s Burn Rate Spikes to 70%

According to data reported by Shibburn, SHIB’s burn rate spiked to 70.68%, with the Shiba Inu community witnessing 410.70 trillion SHIB burned from its initial supply. This gained more attention across the global crypto world, marking the community’s monumental achievement in improving SHIB’s tokenomics. Additionally, the Shiba crypto community recently shifted 25 million SHIB to a dead wallet, marking its share on today’s uptrend. 

Following the spike in SHIB’s burn rate is its current price. As of this writing, SHIB is up by 3.76%, trading at $0.000009611 in the last 24 hours. This trend makes its way to the meme coin’s potential run for $0.00001 as the supply continues to decrease. 

Sheboshi NFT Launch

Meanwhile, Shytoshi Kusama revealed today that the most anticipated Sheboshi NFTs will be launched at last, marking another innovative step in its ongoing developments since last year.

Kusama also shared some details about a potential announcement tomorrow, February 14 which has sparked curiosity from the community. 

Furthermore, Shibarium also recorded an increase in its daily transactions relating to Bitcoin’s current bullish trend pushing transaction volumes to a new highpoint. Shibarium data shows a notable $2 million increase in its transactions.