SHIB Burns Surge over 545% as Two Anonymous Whales Emerge

The Shibburn wallet tracker popular within the Shiba Inu community has reported that since Sunday morning, one of the key SHIB metrics – burn transactions – have demonstrated an impressive increase.

A Shibburn wallet tracker has reported a significant increase in SHIB burn transactions since Sunday morning, with two anonymous SHIB whales performing those burns.

SHIB burns observed by Shibburn

Shibburn has reported a total of 10,359,000 SHIB meme coins being sent to unspendable blockchain wallets over the course of sixteen to thirteen hours.

The burns were carried out in four separate transactions by two anonymous wallets. Two lumps of 4,559,000 and 3,000,000 SHIB were burned by the first wallet, which ends in -205b5. Two identical SHIB chunks of 1,400,000 SHIB each were burned by the second wallet, which ends in -eaa40.

After crashing by roughly 10% on Thursday last week, the second largest meme coin Shiba Inu has managed to regain half of that loss by now. That included three attempts to break out. With the third one SHIB succeeded in reaching the $0.000001846 level but then the market pushed the meme cryptocurrency down by 3.90.

At the time of this writing, SHIB is changing hands at $0.00001771.

Shytoshi clarifies Crypto.com error with TREAT

The enigmatic lead developer of the Shiba Inu team, who is known to the community by the pseudonym Shytoshi Kusama, has commented on a recent warning issued by the “Shibarmy Scam Alerts” account.

The post, on which he commented, stated that a link leading to a website not related to SHIB or its layer-2 blockchain Shibarium was spotted in one of the articles published on the website of major cryptocurrency exchange Crypto.com.

That was an article about the TREAT token and it leads to a site which is likely to have been made by scammers. Shytoshi Kusama commented that the warning post was absolutely correct. He reminded the global SHIB army that the TREAT token is currently in development and has not been launched yet.

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

Earlier this year, the SHIB team issued numerous warnings about this token, urging the community to be careful and DYOR – an acronym popular within the crypto community which means “do your own research.”

Kusama recommended the SHIB army to “proceed with caution with this other Treat token.”

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