The Shiba Inu-focused account, @susbarium, recently warned the community about a substantial SHIB burn worth around $100,000. Data from Shibburn reveals that this burn removed 5,612,878,479 SHIB from circulation in the last 24 hours.
The alert advises holders to remain vigilant about these large burns, which may serve ulterior motives. In a detailed tweet, @susbarium cautioned that some projects might burn large amounts of SHIB, not to boost the token, but as a way to attract attention.
These burns could be part of a strategy to draw in the “SHIB army” by promoting presales or low-quality tokens with the promise of helping SHIB’s value. The account stressed that these attempts to capture the community’s interest through large burns are unlikely to stop anytime soon.
Advice for SHIB Holders: Research Projects Carefully
The account’s message encouraged SHIB holders to consider the bigger picture and conduct thorough research, also known as “DYOR” (Do Your Own Research), before investing in projects associated with SHIB burns. By examining these projects in depth, holders can assess their legitimacy and value more effectively.
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@Susbarium offered some valuable tips on evaluating crypto projects, emphasizing that they are applicable to all investors, not just SHIB holders. The first suggestion involves examining a project’s core objectives. Investors should look past the headline-grabbing SHIB burns and assess the project’s team background, roadmap, and whether the token offers real utility. Without a clear purpose and proven utility, these projects may lack long-term potential.
Investigating Token Allocation and Team Holdings
Another essential factor to review is token distribution and team allocation. The account recommends investigating how much of the project’s token supply is held by the team and insiders. A high allocation to team members may indicate a higher risk of centralized control, raising concerns over the project’s transparency and fairness.
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Finally, the tweet suggested understanding the project’s tokenomics and scrutinizing its promotion strategies. Investors should look into the token’s supply, liquidity, and overall structure to gauge sustainability. Additionally, the warning highlighted that promotions from influencers and large accounts often come at a cost, as they rarely endorse projects for free.
@susbarium’s message to the SHIB community is clear: approach SHIB-associated projects with caution, do thorough research, and avoid getting swayed by high-profile burns without concrete proof of a project’s value.
