Shiba Inu in Crisis Mode? Burn Stalls as Fraudsters Flood the Market
Shiba Inu (SHIB) burn rate has plunged to zero over the past 24 hours, according to data from the leading burn tracker Shibburn. Despite the decline in daily burn activity, the SHIB community remains committed to reducing the token’s circulating supply. A total of 671,832 SHIB has still been sent to dead wallets in small transactions, showcasing ongoing grassroots efforts to support the token’s deflationary mechanism.
The sharp drop in SHIB’s burn rate comes as the crypto market faces significant pressure, with SHIB itself down 12% over the past week and currently trading at $0.00001175.
Shiba Inu Team Issues Fraud Alert as Market Turmoil Grows
In response to the ongoing volatility, SHIB’s official marketing lead Lucie issued a public statement warning the community about the growing threat of scams and fraud in the crypto space. She described the current market as “brutal,” suggesting that the downturn is being exploited by “malicious actors and clout chasers” to monetize their platforms and deceive unsuspecting investors.
Lucie noted an alarming trend of new tokens launching almost daily, often by the same fraudsters who simply recycle developer identities and community narratives. Her message emphasized the importance of verifying websites and project legitimacy before making any investments.
Additionally, she criticized X (formerly Twitter) for becoming a hub for bots and scam activity, calling it a “paradise for chaos.” Lucie’s comments serve as a critical reminder for SHIB holders and crypto investors at large to stay vigilant as the bear market drags on.
Despite technical setbacks, SHIB’s core community appears determined to stay active, and burn contributions, though slowed, continue to demonstrate this commitment.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
