Shiba Inu (SHIB) enthusiasts were recently taken by surprise when the SHIB burn rate inexplicably dropped to zero, yet millions of coins found their way into unspendable wallets. This puzzling event coincided with a notable SHIB price increase of over 7%. Despite the burn rate showing a zero reading, over 1.4 million SHIB meme coins were burned in a single day. Interestingly, this zero reading appeared in green rather than the expected red, hinting at a possible glitch in the system. During this period, the Shibburn platform recorded four burn transactions, with the most significant involving 1,111,111 and 189,472 SHIB coins.
Adding to the intrigue, Shibburn’s latest tweet confirmed these figures and revealed a staggering 5,929.22% surge in the weekly burn rate. A total of 5,753,160,030 SHIB coins were sent to dead-end wallets over the past week. This massive burn was primarily due to a single transaction of 5,612,878,479 SHIB, valued at approximately $100,000. The new meme coin project, Shiro Neko, was responsible for this generous burn, earning positive feedback from SHIB-themed accounts, including Lucie, the official Shiba Inu marketing lead.
In light of these events, the SHIB team issued a warning to their community, advising caution regarding individuals outside the Shiba Inu circle burning large amounts of SHIB. On the day of this significant burn, the rate soared by 259,910%, with the @susbarium X account, linked to the meme coin’s team, suggesting that such a massive burn could be a “quick attention play.”
This curious case of SHIB burning brings up questions about the motives behind these transactions and their potential impact on the future of the meme coin. For those closely following the Shiba Inu saga, these developments are as intriguing as they are unpredictable. As SHIB continues to capture the crypto community’s attention, its journey remains one to watch with interest.
