In light of the significant increase in the burning of Shiba Inu (SHIB) tokens, the project's team issues a warning to the community regarding fraudulent assets.
Increase in SHIB Burn Rate
According to data from popular tracker Shibburn, the amount of SHIB burned has reached 13,090,171. This event was influenced by two large transactions that destroyed 5,000,000 and 7,515,411 SHIB, resulting in an impressive burn rate increase of 12,833.29%.
SHIB Price and Its Dynamics
Despite the high burn rate, the price of SHIB has decreased by 3.77% since Thursday, falling from $0.00001168 to $0.00001124 at the time of publication. The current market capitalization is $6,679,910,854.
Warning from the SHIB Team
Lucie, the official spokesperson for Shiba Inu, published a warning for the community. She urged users to be wary of scammers offering 'fake SHIB' and reminded everyone that there is only one real SHIB, born on Ethereum. According to Lucie, users should block scammers who promote investments in counterfeit tokens.
The surge in SHIB token burning, while significant, has not prompted a corresponding price increase, highlighting the volatility of the cryptocurrency market and the need for community caution regarding fraud.
