SHIB Burns Skyrocket 12,833%, Price Reacts Unexpectedly

Data shared by popular Shibburn tracker reveals an astonishing five-digit rise with millions of meme coins getting removed from circulation. However, the SHIB price displayed unexpected reaction to that large increase.

Meanwhile, the SHIB team has issued an important warning, urging the Shiba Inu community to beware “fake SHIB.”

SHIB burn rate jumps 12,833%, but SHIB price unfazed

The above-mentioned on-chain data source reported on its website that since last morning the amount of Shiba Inu destroyed by SHIB enthusiasts has reached a cumulative 13,090,171 SHIB.

The two biggest transactions helped transfer 5,000,000 and 7,515,411 SHIB from the meme coin’s circulating supply. As a result, the burn rate metric skyrocketed by an impressive 12,833.29%.

The overall amount of meme coins that has been destroyed (locked in unspendable wallets) since 2021 by now comprises 410,750,165,184,546 SHIB, while 584,532,038,460,906 SHIB remain in circulation.

Despite this impressive burn metric surge, the SHIB price is down by 3.77% since Thursday as it fell from the $0.00001168 level and dropped on $0.00001124, where it is trading as of this writing.

Warning from top SHIB executive: “Hide, block!”

The official marketing lead of the Shiba Inu lead, known to the community under the pseudonym Lucie, has published a warning to the SHIB army.

Lucie mentioned “fake SHIB”, addressing scammers and con artists with a request: “Keep your fake SHIB away from my post.” She reminded everyone in the crypto community that “there’s only one real SHIB — born on Ethereum.” She advised her X followers to block scammers who offer them to invest in fake Shiba Inu coins.