In an official statement released on the X social media platform, Lucie, the marketing expert of the Shiba Inu team, has addressed the SHIB army, bringing attention to a temporary issue plaguing the recently launched Shib Magazine website. Lucie emphasized that the login feature on the Shib Magazine site is currently unavailable to users. However, she assured the community that the SHIB team is fully aware of the situation and is actively working to resolve the problem swiftly.
A brief overview of Shib magazine
Shib Magazine, introduced by the Shiba Inu team earlier today, offers a diverse array of content, including articles on technology, finance, and tech innovations. Additionally, it serves as a platform for updates regarding Shibarium and its growing ecosystem.
The magazine will keep its readers informed about the evolution of existing SHIB products and the introduction of new ones. It will also feature news on SHIB events, initiatives, success stories, and exclusive interviews with crypto industry experts and influencers. Moreover, the magazine provides comprehensive marketing and advertising packages for crypto projects.
Temporary setback for new users
The Shib Magazine’s launch came with a special offer to entice new users. The SHIB team had announced the distribution of a thousand NFTs of the magazine cover, absolutely free of charge, to welcome newcomers to the website.
However, the current issue with the login feature has temporarily hindered the registration process for those eager to claim these free NFTs. Despite this setback, Lucie has assured the SHIB community that the team is diligently working to rectify the situation and will keep the community updated on the progress.
In an astonishing development reported by the Shibburn wallet tracker, the SHIB community has achieved an 18,402% increase in the SHIB burn rate within the last 24 hours. This substantial uptick saw a total of 173,214,139 SHIB meme coins being moved to unspendable wallets.
Most notably, a majority of these 173 million SHIB coins were burned through just two significant transfers. The first transfer involved 100,000,000 SHIB and occurred 11 hours ago, while the second transfer involved 73,081,228 SHIB and took place eight hours ago.
Despite the massive number of SHIB coins involved, the total equivalent in fiat currency stands at a relatively modest $1,446. This surge in the SHIB burn rate represents the highest spike in this metric over the past few weeks, dwarfing the previous maximum of 1,000%.
