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The Shibburn wallet tracker popular within the Shiba Inu community has reported that since Sunday morning, one of the key SHIB metrics – burn transactions – have demonstrated an impressive increase.
The data source specified that those burns were performed by just two anonymous SHIB whales.
SHIB burns surge over 545%
Shibburn spreads the word about a substantial cumulative transfer of 10,359,000 SHIB meme coins to unspendable blockchain wallets made between sixteen and thirteen hours ago.
There have been four transactions all in all so far made by two anonymous wallets. The first wallet, ending in -205b5 burned two lumps of 4,559,000 and 3,000,000 SHIB. The second one, which ends in -eaa40, scorched two identical SHIB chunks of 1,400,000 SHIB each.
Shiba Inu price performance
After crashing by roughly 10% on Thursday last week, the second largest meme coin Shiba Inu has managed to regain half of that loss by now. That included three attempts to break out. With the third one SHIB succeeded in reaching the $0.000001846 level but then the market pushed the meme cryptocurrency down by 3.90.
At the time of this writing, SHIB is changing hands at $0.00001771.
Shytoshi Kusama clarifies Crypto.com error with TREAT
The enigmatic lead developer of the Shiba Inu team known to the community under the pseudonym Shytoshi Kusama took to his X account to comment on the recent warning coming from the “Shibarmy Scam Alerts” account.
The post, on which he commented stated that a link leading to a website not related to SHIB or its layer-2 blockhain Shibarium was spotted in one of the articles published on the website of major cryptocurrency exchange Crypto.com. That was an article about the TREAT token and it leads to a site which is likely to have been made by scammers.
Shytoshi Kusama commented that the warning post was absolutely correct. He reminded the global SHIB army that the TREAT token is currently in development and has not been launched yet.
Correct. Sadly @cryptocom wrote about our TREAT token that is not yet launched, assuming incorrectly that it was.
Proceed with caution with this other Treat token (and many other spoofs that will inevitably be created to scam you). #DYOR https://t.co/bkSZVbSfOu
— Shytoshi Kusama™ (@ShytoshiKusama) July 21, 2024
Earlier this year, the SHIB team issued numerous warnings about this token, urging the community to be careful and DYOR – an acronym popular within the crypto community which means “do your own research.”
Kusama recommended the SHIB army to “proceed with caution with this other Treat token.”
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