- The biggest burn sees 3.6 billion $SHIB set ablaze in one go.
- SHIB trades in the consolidation phase with no bullish on-chain signs.
- The Official SHIB Token Discord server was paused due to conflicts.
The community behind the popular memecoin Shiba Inu (SHIB) burned over 6.3 billion tokens in a week. One hundred thirty transactions totaled 2,734,359,742, while the most significant contributor is Blaze Token, a new memecoin thatโs rumored to be building on Shibarium.
Blaze Tokenโs team sent 3,601,495,249 Shiba Inu tokens to a dead wallet. The transaction recorded on EtherScan equals a heavy $31,315. Blaze Token’s deed broke the yearly record of 3,016,073,367 $SHIB.
SHIB Token Calls for Timeout on Discord
The accelerated SHIB Burn rate coincides with the fiery debate between members of the SHIB Army on Discord. Indeed, many members of the Defense Breed were banned as the drama regarding 37 Ethereum (ETH) from Wellyโs funds kicked in. The 37 ETH sent by Wellyโs was likely to be burned but ended up in one memberโs hands.
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Trophias, a member of the SHIB Defense Breed, was kicked out amid these allegations, along with another long-term member, SHIB Queenie. These members are no longer allowed on the new Shibarium Tech Discord server.
The misplaced funds triggered controversy across the community on Twitter and didnโt help maintain Shiba Inuโs price. At press time, the canine coin changes hands at $0.00000873, sliding down by 1.3% in the last 24 hours.
On the Flipside
- Shiba Inuโs mystified co-founder Shytoshi Kusama later emerged on Discord to address the turmoil on Shiba Inuโs channel.
- Shy referred to chaos as โthe nature of trailblazing new frontiersโ and added that there are โmany great things in the works.โ
Why This Matters
Shiba Inu has one of the most active communities in crypto, growing across different platforms.
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