1,053,508,245 SHIB In One Week – Is This Good or Bad?

• SHIB burns jump 1,783%
• SHIB executive issues important warning Data shared by the public on-chain wallet tracker Shibburn reveals that a staggering amount of meme coins has been burned during the past seven days. The burn rate has demonstrated a four-digit increase thanks to these cumulative crypto movements.

Meanwhile, the SHIB team has published a clarification X post as to any promotion given to tokens other than SHIB, BONE, etc. Shiba Inu will not support “random s-coins” every week, the message insists.

SHIB burns jump 1,783%

The aforementioned data source reported that over the past week, the amount of burned Shiba Inu meme coins has reached an epic 1,053,508,245 SHIB. These staggering cumulative SHIB movements have lifted the overall weekly burn rate by an impressive 1,783.10%.

However, this high burn level was reached thanks to a single transfer of 1,000,000,000 SHIB to an unspendable blockchain wallet five days ago, as revealed by Shibburn.

The two largest burns that followed have helped destroy 10,061,416 and 16,177,495 SHIB coins.

Meanwhile, the daily SHIB burn shows a negative reading today. This metric is 72.71% down compared to the previous day, with only 1,274,464 SHIB moved out of the circulating supply.

SHIB executive issues important warning

The official pseudonymous marketing expert of the SHIB team, known to the crypto community as Lucie, has published a post on her X account, saying that the SHIB team does not intend to provide “support for random s-coins.”

“The team behind SHIB doesn’t promote a new one every week,” she stated emotionally. As if expecting comments that the SHIB team does promote its partners’ tokens, Lucie wrote that all Shiba Inu partners are “carefully vetted.” And before any promotion happens, “everything is discussed in depth.”

Besides, when it happens, and SHIB’s partners see support from them, they are “promoted across all official channels — devs, website, Telegram, Discord — not just a few X accounts,” according to Lucie. She concluded the tweet by complaining about the large amounts of s-coins getting launched frequently and, apparently, asking the SHIB team to shill them through their social media channels.

“We can’t keep up anymore,” Lucie said.