Shiba Inu's (CRYPTO: SHIB) burn rate spiked by 10,900% in the last 24 hours, days after the Shibarum beta launched.

What Happened: Data from Shibburn reveals that in the last 24 hours, 934 million SHIB has been transferred to a dead wallet.

Shytoshi Kusama, lead developer of the Shibarium project, on Sunday said in a blog post that users will have the ability to build decentralized applications (dApps) on the Shibarium chain and integrate businesses on it.

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The spike in burn rate comes after SHIB developer Kaal Dhairya admitted to making a mistake regarding the Shibarium Beta chain ID after the community accused the team of stealing the Rinia chain ID.

Price Action: At the time of writing, SHIB was trading at $0.000010, up 2.43% in the last 24 hours, according to Benzinga Pro.

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