Shibburn wallet tracker has spread the word about 44,805,449 SHIB burned over the past 24 hours in total. This result was achieved in 12 transactions, according to the tweet.

The biggest transfer here, per the list on the Shibburn website, carried 9,438,008 Shiba Inu meme coins. Details of the transaction provided by Etherscan show that this wallet has been activated after almost 799 days, which is roughly equal to two years and one month.

The wallet currently contains zero SHIB after transferring 9.4 million SHIB to a dead-end Shiba Inu wallet.

In the past 24 hours, there have been a total of 44,805,449 $SHIB tokens burned and 12 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

— Shibburn (@shibburn) July 28, 2023

SHIB surges thanks to Elon Musk

On July 25, tech mogul, owner of Twitter and CEO of Tesla and SpaceX, Elon Musk made an unexpected mention of "Shiba Inu" in his tweet about rebranding Twitter to the X app.

He mentioned that they once tried rebranding to Shiba Inu, but it had no impact. The SHIB community gladly began to discuss this tweet, expressing hopes that perhaps the tech billionaire was hinting he was going to add SHIB as a payment option on the Twitter-X app.

The price of the SHIB meme coin surged by roughly 3% on that day. However, what Elon Musk actually meant was likely the week in April when he changed the Twitter logo (the famous bluebird) to the Dogecoin mascot, which is also a Shiba Inu dog — the original meme coin was based on its image.

SHIB jumps 5% on upcoming Shibarium launch

Today, the price of SHIB has gone up by over 5%, peaking at the $0.00000823 level after the release of the Shibarium Bridge beta ahead of the upcoming Shibarium mainnet launch, which is expected in August.