Data shared by the prominent Shibburn tracker in a recent tweet shows that the burn rate metric has surged enormously, stunning the SHIB community with a six-digit increase.
Still, the SHIB batch that has been burned this time is rather small and hardly matches the mammoth increase shown above.
The aforementioned data tracker revealed a stunning 771,019% jump in the number of SHIB meme coins burned over the last 24 hours. The number of meme coins that were destroyed as a result of this staggering surge amounts to 18,684,231 SHIB.
So far, the largest burn transaction out of the four has recorded 16,035,545 SHIB, gone to an unspendable wallet. It was followed by the removal of 1,070,154 SHIB from the circulation supply.
Still, both the tweet and the Shibburn website show a 771,019% rise, which just might mean that a large burn transaction has taken place, but it has not been recorded on the website on the burn transfer list yet. It could be that another several tens of millions of meme coins have been scorched, but the community is not aware of it yet.
In the meantime, the weekly burn statistics show that, over the past week, the community has managed to dispose of 74,896,709 SHIB meme coins, seeing the burn rate drop by 86.04%.
Meanwhile, the SHIB team has been working on the Shibarium layer-3 solution for more than a year now. This week, several X posts from the SHIB team have teased this upcoming upgrade, lifting the veil of secrecy as to what this layer 3 is going to be like and what its main feature will be.
The official marketing lead of the SHIB team, known to the community as Lucie, has published a tweet today, talking about this approaching next step for Shibarium and its army of users.
According to Lucie, the layer 3 of Shibarium will be focused on privacy, keeping user data entirely encrypted, “even while apps are using it.” She stated clearly that developers, the network or the authorities would be unable to see user data unless users themselves choose to share it.
This will be possible thanks to Fully Homomorphic Encryption (FHE) rollups provided by Shiba Inu partner Zama.
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