The Shiba Inu burn rate surged by 252,910% as $100,000 worth of SHIB tokens was burnt in one transaction.
The increase in burn rate is typically seen as bullish for the Shiba Inu price.
However, the scam detector platform Susbarium warned investors to be cautious about this burn transaction.
Susbarium advised investors to consider factors beyond the burn transaction, such as team's background, roadmap, token distribution, and promotions by influencers.