Shiba Inu Burn Rate Increases 825% as Developer Warns About TREAT
The Shiba Inu (SHIB) community reported an 825% increase in the token's burn rate, with 26,481,246 SHIB tokens removed from circulation. To date, a total of 410.7 trillion tokens have been burned.
Warning from SHIB Developer
Developer Kaal Dhairya warned about a compromised account related to the TREAT token, clarifying:
- TREAT has not launched on Solana or Base blockchains.
- Unauthorized assets claiming to be TREAT on those platforms are illegitimate.
Lucie, a core team member, also urged the community to remain vigilant against scams exploiting the SHIB brand.
SHIB Price Analysis
Following the burn news, SHIB's price increased by 2.6%, now trading at $0.00001255. Key points include:
- SHIB reclaimed the 20-day Exponential Moving Average (EMA) at $0.00001220.
- RSI is at 52.85, indicating buying momentum.
- Potential targets include the upper Bollinger Band near $0.00001298.
Should selling pressure arise, key support levels are at the 20-day EMA ($0.00001220) and the middle Bollinger Band ($0.00001198).
SHIB’s price chart. Source: TradingView.com