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In an unprecedented 24-hour period, the Shiba Inu community has witnessed a dramatic coin burn event involving nearly 13 million SHIB coins. The historic event, however, surprised investors as SHIB prices fell by over 3%. During the coin burn, two significant transfers stood out, with 5 million and 7.5 million SHIB sent to inaccessible wallets. Despite these figures, SHIB’s price dipped from $0.00001168 to $0.00001124, prompting the official team to issue a stern warning against counterfeit coins.
The Surging Coin Burn Rate of Shiba Inu
According to Shibburn’s data, the coin burn rate for Shiba Inu has skyrocketed by 12,833% since “yesterday morning.” Community members aim to reduce circulating supply by directing a total of 13.09 million SHIB coins to burn addresses. Two separate transactions accounted for the majority of this, removing 5 million and 7.51 million SHIB from circulation. As of now, the total amount of SHIB destroyed since 2021 has reached 410.75 trillion, leaving 584.53 trillion SHIB in circulation.
Despite the increased coin burn, the decrease in price indicates that supply limitation alone is not sufficient to prevent short-term price fluctuations. Analysts highlighted that investor interest still largely depends on factors such as low volume and overall market sentiment. Although the coin burn process is expected to alleviate supply pressure in the long run, the current selling pressure has kept SHIB hovering around the $0.00001124 mark. Crypto Traders Are Rushing to This App – Here’s Why You Should Too
Community Alerted Against Fake SHIB
Shiba Inu’s marketing officer, Lucie, addressed the community via her social media account, urging vigilance against “fake SHIB coin” traps. Lucie emphasized that “the only real SHIB coin was born on Ethereum 
$3,717,” advising against investing in coins presented on different networks or under similar names. She recommended blocking suspicious content and avoiding scam offers.
The timing of Lucie’s warning coincides with heightened social media interest following the high coin burn rate, thus highlighting an increased risk of identity fraud. The project team regularly reiterates such announcements to preserve brand integrity and prevent investor misinformation. The community is also reminded to follow official channels and engage with verified contract addresses only.
