Shiba Inu has recently seen an increase in its burn rate, which has soared more than 11,000% in the last 24 hours.

According to Shibburn, a total of 9,782,588 SHIB were burned in the last 24 hours, resulting in a 11,822.57% increase in the daily burn rate.

According to Shibburn, 55,434,495 SHIB were burned in the last seven days, marking a 13.7% drop in the weekly burn rate.

HOURLY SHIB UPDATE$SHIB Price: $0.00001211 (1hr 0.42% ▲ | 24hr -0.70% ▼ )
Market Cap: $7,138,279,161 (-0.74% ▼)
Total Supply: 589,247,537,900,558

TOKENS BURNT
Past 24Hrs: 9,782,588 (11822.57% ▲)
Past 7 Days: 55,434,495 (-13.70% ▼)

With millions erased in the last 24 hours, SHIB's total supply is now 589,247,537,900,558 SHIB out of an initial supply of one quadrillion tokens.

At press time, SHIB was trading down in the last 24 hours to $0.00001197 and down 3.41% weekly following the recent market's profit taking.

Crucial warnings issued

Shiba Inu developer Kaal Dhairya recently shared a post by Zama CEO Dr. Rand Hindi.

The Zama founder stated in a tweet that rumors about Zama holding a private sale of Zama token for OG NFT holders had come to his attention. This news, obviously peddled by bad actors, is fake, according to the Zama CEO. Zama will only hold one round of public sale for the community.

In light of this, the crypto community is cautioned against falling for scams and to always double-check all information before acting.

As reported this week, Shiba Inu community members were warned about a recent phishing scam attempt. A Shiba Inu token airdrop with a message that urged its recipients to visit a fake site to claim rewards was sent out by scammers. Users are warned against connecting their wallets to fake sites not related to the official Shiba Inu ecosystem, as this could lead to stolen assets or compromised security.

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