Key Notes
- Shiba Inu burn rate shot up 825% with a massive 26.48 million tokens being burned.
- Developer Kaal Dhairya warned that the TREAT token is not on Base or Solana networks.
- Core team member Lucie also spread word regarding an increase in scammers and SHIB imitators.
The Shiba Inu (SHIB) community witnessed a dramatic increase in the token’s burn rate over the past 24 hours, with data from Shibburn indicating an impressive 825% increase.
A substantial 26,481,246 SHIB tokens were removed from circulation, potentially impacting the cryptocurrency’s supply dynamics. Since inception, the meme coin’s team has burned 410.7 trillion tokens.
This significant burn event coincides with a crucial warning issued by Shiba Inu developer Kaal Dhairya regarding the TREAT token.
There is no Treat on solana or base the account @treatsforShib seems to have been hacked, please be careful
— Kaal (@kaaldhairya) April 20, 2025
Warning from SHIB Developer
Dhairya clarified that while TREAT did launch on the Ethereum network in January 2025, it has not been deployed on either the Solana or Base blockchains.
His statement directly addresses misinformation stemming from a compromised X account, “Shiba Inu Treat,” which has reportedly been exploited by malicious actors.
The developer emphasized that any TREAT tokens or SHIB-branded assets found on Solana or Base are unauthorized and illegitimate.
Adding to the chorus of caution, Shiba Inu core team member Lucie recently took to X to address the growing issue of scammers and imitators leveraging the SHIB brand.
In a direct message to the community, Lucie stressed the importance of staying informed and highlighted that while she lacks the power to shut down these bad actors, her priority is to make sure the SHIB community remains vigilant.
I don’t have the power to shut bad actors using SHIB’s name —
but I do want MY SHIB community to be as informed as possible, and to keep spreading the good word about SHIB — the one and only, Ethereum-born Shiba Inu.
No fake SHIB ALLOWEDSHIB isn’t anyone’s — it’s the people’s… pic.twitter.com/lyVU4cgI3p
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) April 20, 2025
SHIB Price Analysis
Meanwhile, the market appears to be reacting positively to the burn news, with the current price of SHIB trading at $0.00001255, marking a 2.6% increase over the last day, CoinMarketCap data shows.
This price action has also seen SHIB reclaim the 20-day Exponential Moving Average (EMA) at $0.00001220 while according to analyst Ali Martinez, the TD Sequential flashing a buy signal on the weekly chart for Shiba Inu, suggesting further price increase.
#ShibaInu $SHIB may be gearing up for a major rebound, with the TD Sequential flashing a buy signal on the weekly chart! pic.twitter.com/GHQRRm0Fqq
— Ali (@ali_charts) April 21, 2025
SHIB has recently crossed above the 20-day EMA, which often acts as a dynamic support level. The RSI currently sits at 52.85, indicating increasing buying momentum but not yet in overbought territory.
SHIB’s price chart. Source: TradingView.com
The price is currently trading near the middle band of the Bollinger Bands. If the positive momentum continues and SHIB can sustain trading above the 20-day EMA, the upper band of the Bollinger Bands could act as an initial target.
Currently, the upper band is around $0.00001298. A break above this level, supported by strong volume and a rising RSI (potentially heading towards but staying below 70), could suggest further upside towards previous resistance levels not visible on this specific chart.
However, if the recent gains are short-lived and selling pressure returns, the 20-day EMA ($0.00001220) would act as the first significant support.
A break below this level could see SHIB test the middle band of the Bollinger Bands (currently near $0.00001198) and potentially the lower band (around $0.00001107).
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
