The burn rate of the Shiba Inu meme coin has dropped to zero over the past 24 hours. However, the community continues to work on reducing the coin supply.
Decline of SHIB's Daily Burn
Data from the tracking service Shibburn revealed that the daily burn rate of Shiba Inu has dropped to zero. Nevertheless, the community managed to burn 671,832 SHIB through numerous small transactions transferring tiny amounts of coins to dead-end wallets.
SHIB Team Issues Scam Warning
The official marketing lead of SHIB, known as Lucie, addressed the community with a warning about scams in the crypto space. She noted that only 'malicious actors and clout chasers' can benefit from the current market conditions. Lucie urged everyone to double-check websites to avoid potential fraud.
Overall Market Conditions
The broader crypto market is struggling, with SHIB trading at $0.00001175 after a 12% decline over the past week. Lucie also pointed out the frequent launch of new tokens, which are often created by the same scammers, presenting risks for investors.
Despite the current burn rate of zero for SHIB, the community remains dedicated to reducing the circulating supply while being cautious about the high risks of scams.
