SHIB Burns Skyrocket 116,757 % - What's Happening?

Key Points

1. Over 1 billion SHIB was burned in a single transfer, increasing the burn rate by 116,757% in 24 hours.

2. A second large burn of 1.3 billion SHIB was recently executed through the Shibarium network's gas fee mechanism.

3. SHIB's price increased by 2.3% following a previous 3.45% decline, reaching $0.00001179.

4. SHIB's executive Lucie warned that past projects claiming to be the 'next SHIB' have failed, emphasizing SHIB's enduring value despite price drops.