Peter Smith
Something weird happened with Shiba Inu yesterday. The burn rate went absolutely crazy - we're talking about a 12,833% spike - but instead of the price going up like you'd expect, SHIB actually dropped. It's one of those "wait, what?" moments that makes crypto so unpredictable.
According to Shibburn data, over 13 million SHIB tokens got burned in just one day. That's a lot of tokens going straight to digital heaven, never to be seen again. But here's the kicker - SHIB's price didn't get the memo and decided to go down instead of up.
SHIB (Shiba Inu) Burns Hit Record Numbers
The burn numbers are pretty wild when you break them down. Two massive transactions did most of the heavy lifting - one burned 7.5 million SHIB while another torched 5 million tokens. These weren't small fish making noise; someone with serious bags decided to help reduce the supply.
Since 2021, the SHIB community has now burned a mind-boggling 410,750,165,184,546 tokens total. Yeah, that's a lot of zeros. There are still 584,532,038,460,906 SHIB tokens floating around, which explains why even burning 13 million doesn't move the needle much on price.
The 12,833.29% burn rate jump is definitely impressive on paper, but when you're dealing with trillions of tokens, it's like removing a drop from an ocean.
SHIB (Shiba Inu) Price Does Its Own Thing
Here's where it gets frustrating for SHIB holders. Despite all that burning action, the price went from $0.00001168 to $0.00001124 - a 3.77% drop since Thursday. Burns are supposed to be bullish because less supply should mean higher prices, right? Well, not always.
The crypto market doesn't always follow textbook economics. Sometimes other factors like overall market sentiment, whale movements, or just plain old selling pressure can overpower the positive effects of token burns. SHIB's massive supply also means you need truly enormous burns to make a real dent.
SHIB (Shiba Inu) Team Warns About Fakes
While all this burning drama was happening, SHIB's marketing lead Lucie dropped an important warning about fake SHIB tokens. She's telling everyone to "hide, block" scammers trying to push fake versions of the token.
"There's only one real SHIB - born on Ethereum," Lucie reminded the community. It's a timely warning since scammers love to capitalize on moments when a token is getting attention. They'll create lookalike tokens or try to trick people into buying fake versions.
The bottom line? Even with record burns, SHIB's price is doing its own thing. The community's commitment to burning tokens is solid, but the market clearly has other plans right now. And with scammers lurking around, SHIB holders need to stay sharp and stick to the real deal on Ethereum.
Peter Smith
