SHIB Community Burns 11 Million Tokens, Price Rises 1.27%

Over the past 24 hours, the Shiba Inu (SHIB) community has made significant strides in combating scams and fraudulent activities, resulting in the burning of over 11 million SHIB tokens. This proactive measure by the community has contributed to a slight increase in the token's price, which is currently trading at $0.00001245, marking a 1.27% rise. The burning of tokens is a strategic move aimed at reducing the overall supply, which can potentially drive up the value of the remaining tokens.

The community's efforts to push back against scams are crucial for maintaining the integrity and trustworthiness of the SHIB ecosystem. Scams and fraudulent activities can severely undermine investor confidence and deter new participants from entering the market. By actively addressing these issues, the SHIB community demonstrates its commitment to creating a secure and reliable environment for all stakeholders.

One of the major highlights of the SHIB community's efforts is the burn of over 16.6 million SHIB on April 18 at 4:05 a.m. UTC, and 14.5 million SHIB on April 14 at 10:22 p.m. UTC. These efforts have led to a 5.40% increase in the weekly burn change, showcasing consistent action by the SHIB community. Additionally, a massive 881,353,310 SHIB tokens have been burned using the ShibTorch platform, further reducing the supply and potentially influencing the SHIBA Inu price in the long term.

Another significant development is the surge in the SHIB burn rate, which increased by 3,277.11% in the past 24 hours. Over the last seven days, a total of 142,626,991 SHIB have been burned, reflecting a 104.28% rise in weekly burn volume. Such spikes often reflect increased community activity and could influence the SHIBA Inu price, especially when paired with strong utility and long-term vision.

The SHIB community's proactive approach to combating scams and fraudulent activities is a positive development for the cryptocurrency market as a whole. It sets a precedent for other communities to follow, emphasizing the importance of vigilance and proactive measures in maintaining the integrity of the market. As the cryptocurrency market continues to evolve, it is essential for communities to remain vigilant and take proactive steps to address potential threats and challenges. The SHIB community's efforts serve as a reminder of the importance of community involvement and collaboration in creating a secure and reliable cryptocurrency ecosystem.

SHIB’s marketing lead, known as Lucie, recently spoke out on X about the rising threat of scammers in the crypto space. She urged the SHIB Army to stay informed and avoid falling for hype-driven traps. Lucie emphasized that education is the only real weapon against bad actors in crypto. According to Lucie, scammers often target the uninformed, and the best defence is knowledge. She encouraged everyone to “learn, research, and move with purpose,” adding that there are “no shortcuts in crypto, just strategy and strength.”

Lucie also shed light on why the SHIB team often chooses to remain silent during FUD (fear, uncertainty, doubt) waves. Her message was clear: hype won’t last, and only solid, well-researched projects will stand the test of time. She believes in letting time and action speak louder than words. “In the state of trenches we’re living in, education is the only real weapon,” she tweeted, encouraging the community to focus on long-term strategies.

With increasing burn rates and a strong emphasis on community education, SHIBA Inu is positioning itself not just as a meme coin but as a growing ecosystem with purpose. While SHIBA Inu price movements remain subject to market trends, the efforts by the SHIB community to reduce supply and push for awareness may play a key role in the token’s long-term success. The SHIB community's efforts to reduce the supply of SHIB tokens and combat scams and fraudulent activities demonstrate their commitment to creating a secure and reliable environment for all stakeholders. This proactive approach sets a precedent for other communities to follow, emphasizing the importance of vigilance and proactive measures in maintaining the integrity of the market. As the cryptocurrency market continues to evolve, it is essential for communities to remain vigilant and take proactive steps to address potential threats and challenges. The SHIB community's efforts serve as a reminder of the importance of community involvement and collaboration in creating a secure and reliable cryptocurrency ecosystem.