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.

According to recently updated figures shared by the Shibburn blockchain tracking platform, over the past week, the SHIB community has succeeded in burning more than one hundred million meme coins.

In the meantime, the Shiba Inu price has demonstrated a major 7.60% plummet over the last 24 hours.

Weekly SHIB burns step on it

A recent tweet published by Shibburn indicates that over the past seven days, there have been more than 114 million SHIB meme coins transferred from the circulating supply into “inferno” blockchain addresses and locked there.

Thus, the weekly SHIB burn rate jumped by more than 790%. As for the daily burn level, this metric shows a negative reading of minus 97.66%, with merely 1,627,406 SHIB destroyed in the last 24 hours so far.

There have been five burn transactions made up to now, according to the Shibburn website.

Overall, a whopping 583,447,316,446,911 SHIB meme coins remain in circulation at the moment, while an almost similar amount – 410,728,078,016,596 SHIB – has been burned by now.

Shytoshi Kusama publishes important SHIB DAO message

As reported by U.Today earlier, over the weekend, the enigmatic leader of the Shiba Inu team published an important message underscoring the important role of LEASH holders in the SHIB DAO, which is about to be integrated on Shibarium.

Kusama stressed that LEASH holders will serve as a class of moderators who will “keep order, protect the system.” Besides, they will get an opportunity to vote on disputes in the DAO.

According to a tweet published by another top SHIB team member, Lucie, BONE and SHIB holders will also have the power of voting in the decentralized autonomous organization (DAO), which is being prepared to launch.

By voting with their tokens, owners of SHIB will be able to participate in decisions to do with charity and promoting the SHIB community’s values. BONE holders will be entitled to have a say in decisions to do with advancing blockchain knowledge and innovation (Education and Research Council) and shaping the development of the SHIB ecosystem (Technology Council).

Lucie published her tweet reacting to the arrest of the Telegram and TON coin founder Pavel Durov in Paris over the weekend. She stressed that this action was an attack against the cryptocurrency space and free speech.