SHIB burns soar 750% as the community continues its attempts to make a dent in the circulating supply

The SHIB community continues its regular attempts to make a noticeable dent in the circulating Shiba Inu supply by burning these meme coins.

The SHIB community continues its regular attempts to make a noticeable dent in the circulating Shiba Inu supply by burning these meme coins. Yet another large token burn has been conducted during the past day.

In the meantime, the SHIB team has issued a critical warning regarding scammers who are trying to impersonate Shiba Inu lead Shytoshi Kusama.

SHIB burns soar 750%

According to data published by the Shibburn website, over the last 24 hours, the community has succeeded in giving the SHIB burn rate a significant rise of almost 750%. This increase came as a result of 17,127,069 SHIB meme coins burned in total.

The largest amount of coins transferred to an unspendable wallet in a single move here constituted 16,274,641 SHIB, and it occurred roughly 16 hours ago. The second-biggest transfer was less than even one million meme coins, comprising 792,393 SHIB.

Two billion SHIB burned last week

Per tweets published by the same data source, last week, the meme coin community witnessed the destruction of a staggering two billion SHIB tokens. They were burned in chunks slightly surpassing 1,000,000,000 SHIB, with a two-day pause in between.

The second transfer was even spotted by the SHIB team and highlighted on the X platform by their marketing lead, Lucie.

She confirmed that the anonymous whale who made the one-billion SHIB burn last Thursday also stood behind the similar token removal made on Monday. That proved to be the account of the meme coin CENT that runs on Shibarium.

SHIB team issues big Kusama warning

On Sunday, the @susbarium X account affiliated with the Shiba Inu team addressed the SHIB community with an important warning, mentioning the name of pseudonymous Shiba Inu lead Shytoshi Kusama.

The tweet warned the SHIB army to beware of fake profiles on social media claiming to be Kusama or any other official SHIB team representatives – they will not match the verified tone or style, the warning said.

🚨 ShibArmy Alert!🚨

Baffle of profiles claiming to be Shytoshi Kusama or other official Shib representatives that don't match the verified tone or style. Always check for authenticity and verify information directly with trusted sources. Stay united and vigilant!🔥🐾…

The tweet added that it is always crucial to “check for authenticity and verify information directly with trusted sources.”

As for Shytoshi Kusama, last week, he finally broke the silence he kept on the X platform for more than a month, stating that he had a very interesting journey. Kusama added that he had asked his astrologer analyze it for him.