SHIB Burn Rate Surges 750% as Over 17 Million Tokens Removed

The Shiba Inu (SHIB) community remains committed to reducing the circulating supply by burning large tokens. In the past 24 hours, SHIB holders significantly increased the burn rate by nearly 750%, permanently removing more than 17 million SHIB tokens from circulation.

Major SHIB Transfers to Dead Wallets

Data from the Shibburn website confirms that the largest single burn transaction involved 16,274,641 SHIB, which occurred approximately 16 hours ago. The second-largest burn involved just 792,393 SHIB, much smaller in comparison.

Source: Shibburn

The community’s recent burning efforts follow last week’s massive token destruction, where members eliminated two billion SHIB tokens. These burns occurred in two separate transactions, each surpassing one billion tokens.

The SHIB team acknowledged the second large transfer, highlighting it on X (formerly Twitter). Marketing lead Lucie confirmed that the anonymous whale carried both billion-token burns. This individual is associated with the meme coin CENT, which operates on the Shibarium network.

SHIB Team Warns Against Impersonators

Alongside these burning efforts, the SHIB team issued an urgent warning about scammers impersonating Shiba Inu lead Shytoshi Kusama. The @susbarium X account, linked to the official SHIB team, urged the community to stay vigilant. The warning advised SHIB holders to verify all information from trusted sources and be cautious of fraudulent profiles that mimic Kusama or other official representatives.

After maintaining silence on X for over a month, Kusama reappeared last week. In a cryptic message, he shared that he had been on an intriguing journey and even consulted his astrologer for insights. While he did not provide further details, his return to social media has sparked speculation among the SHIB community.

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As SHIB burns continue and security concerns grow, the community remains active in its efforts to reduce supply and protect investors from scams.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.