According to Shibburn, the Shiba Inu weekly burn rate has increased by 961.53%, with almost half a billion SHIB used over this time span.
In the last seven days, 527,485,988 SHIB tokens have been burnt in 44 trades. In monetary terms, this equated to $4430.88.
The previous week saw the lowest number of SHIB tokens burnt in months: 49,691,122. The daily SHIB burn rate has also increased by 644.86% in the previous 24 hours, with a total of 20,515,829 SHIB tokens burnt in nine transactions.
Shiba Inu burns are on the rise as the Shiba Inu ecology improves.
Shibarium has set a new daily transaction record of 7.4 million. The Shiba Inu Layer 2 protocol had 5.1 million daily transactions the day before, representing a 500-fold increase from a daily transaction average of 10,000.
Shibarium achieved the 20 million overall transaction milestone following the enormous rise in transactions, reaching 20,493,282 at press time, according to Shibariumscan.
Shiba Inu community gets warning
Shibarmy Scam Alerts, an X account committed to safeguarding and discovering frauds in the community, has issued a vital warning to the community. According to the report, certain CoinMarketCap URLs are diverting unwary users to bogus Discord servers, where they are required to connect their wallets for alleged verification before obtaining access to the server.
Users are advised to exercise caution because this approach permits illegal access to wallets, potentially exposing them to financial loss.
Shiba Inu users are advised to investigate the validity of Discord servers by gathering information from many sources and confirming consistency. They should also be careful, double-checking URLs before clicking on any links, and not connect their wallets until they have completed rigorous verification.
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