the Shiba Inu burning rate It rose by 252,910% as $100,000 worth of SHIB tokens were burned in a single transaction. This typically presents a bullish outlook for the Shiba Inu’s price, but scam detection platform Susbarium has shown investors why they should be wary of such token cakes.
The Shiba Inu’s burn rate increases dramatically, but it may not be as good
Shipburn data It shows that the burn rate has increased by 252,910% over the past 24 hours, with 5.6 billion SHIB tokens burned during this period. Most of these were offset by a single transaction, with 5.5 billion chips burned. A burn of this size is bullish for the Shiba Inu’s price, considering that the price of the meme coin will eventually become more valuable as more coins are burned.
However, in X’s post, Susparium He warned SHIB investors to be careful about this burn deal. The platform explained that some projects are using these high burns to attract members of the Shiba Inu community through pre-sales or low-quality tokens. According to the platform, this is not the first time this has happened, and it will not be the last.
To avoid falling prey to such projects, Susparium told Shiba Inu Society To make sure you look at the whole picture. The fraud detector outlined “DYOR” tips these investors can follow as they try to look at the big picture. First, investors were advised to go beyond the copy process and check the team’s background, roadmap and whether the token has real utility.
Secondly, Susparium mentioned this Shiba Inu investors The distribution of the token and the amount of supply allocated to the team or insiders should be reviewed. A huge allocation to a team or insiders can be a red flag. Furthermore, investors are advised to consider the supply, liquidity and structure of the token. The platform stated that projects with a balanced setup tend to be more secure.
Finally, Susparium asked SHIB investors to question the upgrades. The platform notes that influencers and large accounts rarely promote for free. As such, investors should be careful when they see influencers promoting a particular project and check the details before investing.
Team members’ reaction to the token burning
Shiba Inu Marketing Lead, Lucy, He also interacted with the $100,000 worth of SHIB tokens that were burned and seemed surprised, considering that it is not a number that is recorded daily. She also appeared to support Susparium’s warning, retweeting the post in which the fraud detection platform warned investors about such burns.
Shiba Inu developer Call Diriyah He also reacted to Susbarium’s post, simply saying, “I love this account,” indicating his support for the warning to SHIB investors. Susbarium also recently warned the community about scammers who were promoting fake “TREAT” tokens, as there was no official token from the team yet.
Featured image created with Dall.E, chart from Tradingview.com
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