SHIB Burn Surge: 545% Increase
According to Shibburn, a total of 10,359,000 SHIB coins were transferred to unspendable blockchain wallets in the past sixteen to thirteen hours. This significant burn was accomplished through four transactions by the two anonymous wallets. The first wallet, ending in -205b5, burned two large amounts of 4,559,000 and 3,000,000 SHIB, while the second wallet, ending in -eaa40, incinerated two chunks of 1,400,000 SHIB each.
Shiba Inu Price Performance
After a sharp 10% drop last Thursday, Shiba Inu has managed to recover half of that loss. Despite several attempts to break out, the cryptocurrency reached $0.000001846 before experiencing a 3.90% decline. As of now, SHIB is trading at $0.00001771.
Shytoshi Kusama Addresses Crypto.com Error
Shytoshi Kusama, the lead developer of the Shiba Inu project, recently addressed concerns about a potential scam involving the TREAT token. Kusama clarified that the TREAT token is still under development and has not been launched. He responded to a warning from the “Shibarmy Scam Alerts” account regarding a misleading link on Crypto.com’s website, which led to a scam site masquerading as the TREAT token’s official page.
Kusama advised the SHIB community to be cautious and conduct thorough research, emphasizing that the TREAT token is not yet available and warning against potential scams.
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
The SHIB team has previously issued multiple warnings about the TREAT token, urging the community to be vigilant and verify information independently.
