A jaw-dropping burn of $100,000 in SHIB tokensโequivalent to 5.6 billion $SHIB โhas sent the Shiba Inu burn rate soaring by 252,910%! While major burns like these often signal positive momentum for SHIBโs price, Susbarium, a leading scam detection platform, urges the Shiba Inu community to approach with caution.
๐ฅ Shiba Inu Burn Spike: Bullish or Cautionary?
Out of the 5.6 billion $SHIB tokens burned, 5.5 billion came from a single transaction. While reducing supply theoretically supports price growth, Susbarium warns investors that large burns could be a tactic by certain projects to lure the community for presales or low-quality token promotions.
๐ต๏ธ Investor Due Diligence: Donโt Just Follow the Burn Rate!
Susbarium emphasizes Do Your Own Research (DYOR), encouraging investors to:
Investigate beyond burn stats โ Review the projectโs team, roadmap, and real-world utility.
Verify token allocation โ Watch for signs of insider-heavy distribution, a potential red flag.
Check liquidity and supply โ A strong, balanced structure is key for security.
โ ๏ธ Beware of Influencer Promotions
Susbarium highlights the need for caution around influencer-backed promotions, noting that big influencers rarely promote projects without compensation. Verifying the authenticity of any endorsed project is essential.
๐ฃ๏ธ Shiba Inu Teamโs Response:
Shiba Inuโs Marketing Lead, Lucie, and Developer Kaal Dhairya both supported Susbariumโs cautionary message. The team also recently reminded the community to stay away from scams related to fake โTREATโ tokens, clarifying thereโs no official release from Shiba Inu.
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Takeaway: Major burn events can stir excitement, but smart investing means staying vigilant and informed. DYOR and protect your assets!
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