CandleFocus

SHIB Burns Skyrocket 1,190% As Unusual Whale Activity Rises

Author: Content Editor
The SHIB community has been actively burning their meme coins, leading to an increase in burn rate. The price of the SHIB cryptocurrency has dropped by over 3% in the last day. Tens of millions of SHIB have been burned in the past 24 hours, with the two largest burn transactions conducted by anonymous whales. In the past seven days, a total of 82,932,220 SHIB has been burned, and the weekly burn rate has increased by 32.13%. Since 2021, the Shiba Inu community and the team behind SHIB have burned a total of 410,744,479,788,339 SHIB. A top executive of the SHIB team, Lucie, tweeted about the importance of not investing in assets heavily promoted by influencers, governments, or exchanges. Lucie also reminded the community to only risk what they can afford and are mentally prepared to lose. The mention of assets "pushed by governments" may be a reference to the recent scandal with the LIBRA meme coin promoted by the Argentine president.

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