Shiba Inu Price Declines as Elon Musk’s Twitter Suspends Shibburn Account

Over 600 Million SHIB Tokens Burned as Shibarium Acquires New Milestone

 Shibburn stands out as the sole third-party platform that has been consistently reducing the supply of Shiba Inu tokens each day since its inception. Through its initiatives, Shibburn effectively removes nearly 1.5 million tokens from circulation on a daily basis. 

However, an unexpected development occurred when Elon Musk’s Twitter account suspended the Shibburn application, preventing the bot from relaying crucial ‘burn’ information.

Despite its continuous operation on Twitter since 2021, the Shibburn application recently faced an unexpected suspension on the platform. The app’s official handle clarified that it had not violated any terms or policies and had always adhered to the community guidelines. The suspension was a surprising and unexpected development for the Shibburn team and its followers.

Related article: Shiba Inu Surges Ahead of Bitcoin with Burn Rate Spiking by ~7000%

“Our app has been active on Twitter for the past two years without any issues or violations of the platform’s rules. We have always strived to comply with Twitter’s guidelines and maintain a positive presence,” the tweet stated.

Twitter has suspended the Shibburn account without providing a specific reason for the suspension. The platform is yet to investigate the claims made by the Shibburn app regarding its compliance with guidelines. 

However, Shibburn has reassured its users that the burn initiatives are continuing as usual, and only the Twitter app responsible for providing burn details has been affected by the suspension.

Related also: Voyager Moves 287 Billion Shiba Inu from It’s Hot Wallet to Unknown Wallet

Shbburn Discloses Other Means to Access Daily Burn Updates

Due to the mentioned issue, the Twitter bot is currently restricted from sharing burn details. However, users are encouraged to visit the firm’s website to access daily updates on SHIB burn information. The third-party burn application expressed hope for a prompt resolution to the matter in a recent tweet.

Recently, the tracker revealed a substantial transfer of 341 million SHIB tokens to a dead wallet. The burn figures have witnessed significant growth this month, coinciding with the decline in SHIB’s price. 

As of the latest update, Shiba Inu is trading at $0.00000777, experiencing a 3.01% decrease in the past 24 hours. Notably, the token has declined by 91.21% from its highest recorded value of $0.00008616, achieved in October 2021.

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.

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