Shiba Inu (SHIB) Burn Address Value Hits $4.1 Billion

Shiba Inu's dead-end address amassed a staggering value of $4.1 billion. This impressive feat not only marks its might in the crypto arena but also establishes it firmly as the most considerable asset of its kind on the market.

Timeline of Shiba-inu

According to data shared by Arkham Intelligence, over the last 60 minutes, cryptocurrency whales have shoveled tens of billions of Shiba Inu meme tokens, moving them to and from various crypto trading venues.

It is just about a week to the historic launch of Shiba Inu's Ethereum Layer 2 scaling solution on the mainnet, and a number of associated tokens are already pricing in this massive bullish sentiment. Bad Idea AI (BAD) is one of these tokens, and it has printed a high of 27% over the past 24 hours to $0.0000001033.

Shiba Inu price is back in the green amid growing anticipation around the launch of the network's layer 2 protocol, Shibarium. The second-largest meme coin is up 2.5% to slightly above $0.00001 bolstered by investors booking their positions ahead of its most awaited upgrade.

The 5th annual Futurist Conference, Canada's premier blockchain and cryptocurrency event, is poised to gather a star-studded list of speakers on Aug. 15-16. Amidst the expected sea of startup founders, investors, and financial magnates, a new name has emerged in the lineup: William Volk, a renowned game developer with a storied career in the tech industry.

In a remarkable turn of events, Shiba Inu (SHIB), the cryptocurrency born out of internet meme culture, has orchestrated an astonishing ascent, boasting an impressive 20% surge within the past week.

The week is gradually coming to an end, and most altcoins are exploring ways to wriggle out of their protracted losses over the trailing seven-day period. Shiba Inu (SHIB) is one of these ambitious altcoins, having gained a small 2.73% to push its price to $0.000009984 at the time of writing.

Data from Santiment indicated that Shiba Inu has captured the attention of many traders considering what's lined up for the memecoin. However, excited investors may need to be on the lookout for what comes after a massive surge in prices.

While the broader crypto market consolidates, the Shiba Inu (SHIB) price has surged 3% in the last 24 hours. Thanks to the 79 million SHIB tokens burnt in the last 24 hours, thereby reducing market supply and leading to upward price pressure.

The buzz around Shiba Inu (SHIB) seems to never die down, and a closer look reveals a compelling reason behind the latest price surge. Since July 1, SHIB has witnessed an impressive 25% hike.

The pseudonymous lead dev of Shiba Inu, Shytoshi Kusama, has made an announcement in the official Telegram channel “Shibarium Tech”, teasing three new partnerships for SHIB that are coming soon. The SHIB army calls them ‘partnerSHIBs'.