SHIB Burns Skyrocket 545% As Two Anon Whales Scorch Millions of Coins

The Shibburn wallet tracker popular with the Shiba Inu community has reported that since Sunday morning, one of the key SHIB metrics – burn transactions – has 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 spread the word about a substantial cumulative transfer of 10,359,000 SHIB meme coins to unspendable blockchain wallets, effected between 13 and 16 hours ago.

There have been four transactions all in all 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's price performance

After crashing by roughly 10% last Thursday, 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 3.9%.

At the time of this writing, SHIB is changing hands at $0.00001771.

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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 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 reported in an article published on the website of major cryptocurrency exchange Crypto.com. It was an article about the TREAT token, and it leads to a site that 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 TREAT token is still in development and has not been launched yet.

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.”