Shiba Inu (SHIB) is gaining attention through its active token burning policy, coinciding with historical price growth data for May.
SHIB in the Spotlight and Token Burning
The SHIB community is once again in the spotlight due to its efforts in token burning. As of now, SHIB is trading at $0.00001527, reflecting a 13.22% rise over the past 24 hours and a 13.66% increase over the last week.
Increase in SHIB Token Burns
According to data from the wallet tracker Shibburn, the weekly burn rate of SHIB has surged by 358.82%, linked to the destruction of 329,633,128 SHIB. Additionally, the largest single burn during this period accounted for 263.7 million SHIB.
Community Optimism and Warnings
Despite the bullish sentiment, the SHIB team is warning the community about potential cryptocurrency scams targeting token holders. Project leaders emphasize the importance of adhering to basic security practices within the crypto space.
Supported by an aggressive token burning strategy and positive historical trends, SHIB could be poised for a significant rally. However, the community should remain cautious due to potential risks.
