SHIB Token Burn Drew Market Attention This Week After More Than 327 Million Units Were Taken Out of Circulation

The Shib token burn came back into the market’s attention this week after more than 327 million units were taken out of circulation.

The astronomical rise in the weekly burn was led by a single transaction that sent 263.7 million tokens to an inaccessible address, according to the Shibburn platform that tracks these activities.

The burn was carried out by a whale whose identity remains unknown.

Two other transactions also helped reduce the circulating supply. One transferred 15.3 million tokens, while the other removed around 14 million.

However, despite the overall impact, daily burn activity dropped sharply in the last 24 hours. Only 113,500 SHIB were eliminated during that period, representing a nearly 100% decline compared to the previous average.

Shiba Inu Warns Against Impersonators

The team also issued a warning on X, directed at its community members.

The post highlighted the growing number of fraudulent projects attempting to impersonate official ecosystem tokens. These illegitimate schemes often release fake versions of assets like SHIB, BONE, TREAT, and LEASH, pretending to be part of the original structure.

The official statement stressed the importance of always verifying a token’s legitimacy before making a purchase. To do so, they recommended using only recognized channels and the official website.

They also reminded users that the only valid sources for updates or new launches are the development team’s official accounts and their social media posts.

Shiba is slightly down.