Shiba Inu (SHIB) increased its burning activity.

Popular memecoin Shiba Inu ($SHIB ) has seen an increase with its burning activity.

According to data shared by blockchain tracker Shibburn, the SHIB community has sent millions of SHIB tokens to burning wallets in the last 24 hours, removing them from circulation. This huge increase was achieved thanks to a single large SHIB burning transaction. However, this development did not provide the expected increase in the #SHIB price, and the price fell back to previous levels.

According to data from Shibburn, a total of 61,468,595 SHIB were burned in the last 24 hours. This transaction caused a 5,154 percent increase in the Shiba Inu burning rate.

This large amount was sent to unspendable wallets in a total of seven transactions. The largest transaction carried 48,266,929 Shiba Inus, accounting for approximately 80.95 percent of the total amount burned. This transaction was carried out by an anonymous wallet seven hours ago. In terms of size, this transaction was followed by 6,008,171 and 3,938,558 Shiba Inu transfers, respectively.

Lucie, the marketing leader of the Shiba Inu team, made an important statement to the community. Lucie emphasized the importance of being patient and continuing to work despite the current market conditions, stating that investing millions of dollars in blockchain projects is not a sustainable solution.

“Focus on doing what you love with the best intentions and let it grow naturally,” Lucie said. She also added that “spending millions of dollars on a group of influencers” may not achieve much. Lucie emphasized the need to continue building community projects without paying attention to malicious actors and people trying to make money without doing any work.