The #Shiba Inu cryptocurrency is experiencing a remarkable 535% increase in its daily burn rate. In the past 24 hours, a total of 8,107,271 SHIB #tokens were burned across eight transactions, marking a substantial rise compared to the previous day.

Over the last week, a significant milestone has been reached, with more than a quarter-billion #SHIB tokens burned. In the past seven days, a total of 259,383,545 SHIB tokens were burned through 66 transactions, as reported by Shibburn.

Shiba Inu Transaction Volume and Price Movement:

In the past day, Shiba Inu witnessed a decrease in its transaction volume, which amounted to 2.62 trillion SHIB, as reported by IntoTheBlock. The Transaction Volume indicator calculates the total volume of on-chain transactions.

Within the recent 24 hours, large transactions worth 1.33 trillion SHIB were recorded. Large transaction volume, especially involving transactions exceeding $100,000, often signifies significant activity by crypto whales. 🐋💰

At the time of writing, SHIB had risen by 1.7% in the last 24 hours, reaching a value of $0.000008. The cryptocurrency reattained the psychologically significant $0.000008 level, following a climb from its November 3 lows at $0.00000763.

🚨 Alerts Regarding Fake Sites and NFT Drops: 🚨

Shibarmy Scam Alerts have issued a warning to the Shiba Inu community about the emergence of more fake websites and #NFT drops. These deceptive platforms request users to connect their crypto wallets and claim cash. Shiba Inu holders are strongly advised to verify website URLs and exercise caution by refraining from connecting their crypto wallets until conducting thorough research. 🛡️🔍 #ShibaInu #SHIB #CryptocurrencyNews #BurnRate #cryptoalerts 🚀💰$SHIB