SHIB Burns Jump 550%, Santiment Calls to Keep Eye on XRP and ADA, SHIB Army Receives Warning as Fake SHIB 2.0 Gets Exposed: Crypto News Digest by U.Today

U.Today has prepared the top three news stories over the past day.

SHIB burns jump 550% as Shiba Inu price stays in green

Following several days of Shiba Inu seeing a negative burn rate,the SHIB community has finally managed to increase this important metric of their favorite crypto. Supporters of the dog-themed meme coin have sent close to 80 million SHIB to dead wallets, with the biggest transaction carrying a total of 59,972,026 SHIB. Thanks to transfers by the SHIB army, the  burn rate of Shiba Inu coins went up by 546.18%. As for SHIB's price, it shows a 3.60% decrease over the past 24 hours and is currently changing hands at $0.000007504, per CoinMarketCap.

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Keep an eye on XRP and ADA, Santiment says

According to a recent tweet by Santiment market analytics firm, investors could benefit from keeping a close eye on some of the top altcoins, including XRP and Cardano (ADA). Despite Bitcoin's rise in price dominance, other cryptocurrencies such as Ethereum (ETH), ADA, XRP and Binance Coin (BNB) deserve attention as well, Santiment writes. Ethereum has demonstrated impressive 4.7% growth over the last week, with its market cap approaching $235 billion. XRP has recorded steady growth of 2.3% over the past week. ADA, in turn, has shown a significant 3.85% rise over the preceding seven days.

Shiba Inu: Community receives warning as fake SHIB 2.0 gets exposed

Yesterday, ShibArmy Scam Alerts Twitter account issued a warning to the Shiba Inu community, urging them to beware of scams perpetuated with SHIB 2.0. The tweet says that all SHIB enthusiasts should keep away from Ethereum Names (ENS) that may seem like they belong to Shiba Inu, tokens launched from addresses like "shib2.0," as well as from tokens hinting that they are a part of the SHIB ecosystem. According to a screenshot shared by Shiba Inu ecosystem official Lucie, SHIB lead Shytoshi Kusama has also alerted the community that there is no SHIB 2.0, urging it not to fall for scams.