Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The official marketing lead of the Shiba Inu team, who refers to herself as Lucie, has published a tweet to hint at the progress that is taking place behind the scenes at the moment.

Her statement sounded quite bullish, even though she did not unveil any particular details.

"The future is bright": SHIB representative Lucie

Lucie revealed that now there is an “amazing amount of development and growth happening behind the scenes,” likely referring not only to the Shiba Inu team and Shibarium but also to projects that are collaborating with the SHIB team and building their dApps and ecosystems on Shibarium.

Lucie also stated that even though these developments will now impact the SHIB price in the short term, “the future is bright” anyway. “All the giants working together can build something exceptional,” she added.

Important SHIB metric skyrockets

As reported by the Shibburn tracking platform, over the past 24 hours, the SHIB community has succeeded in disposing of yet another substantial amount of meme coins through burning, i.e., transferring SHIB coins to dead-end wallets.

The aforementioned data source revealed that since yesterday morning, the SHIB burn rate has skyrocketed by a whopping 6212.25%, while a total of 10,248,752 SHIB was locked out of the circulating supply permanently.

There have been four transactions overall, and it was thanks to three of them that these 10 million SHIB were moved to unspendable blockchain addresses. These transfers carried 5,562,297; 3,000,000 and 1,185,536 SHIB, according to Shibburn.