According to U.Today, the Shiba Inu (SHIB) community has seen a significant increase in the burn rate of the meme coin over the last 24 hours. The tracking platform Shibburn reported that more than ten million SHIB coins were destroyed during this period, resulting in a five-digit reading. This surge occurred despite a 15% drop in the SHIB price since the previous day. The SHIB community reportedly transferred a total of 12,047,795 SHIB coins to unspendable blockchain wallets, contributing to a 12,842.37% rise in the SHIB burn metric. Seven burns were recorded within the last 24 hours, with the three largest transfers destroying nearly all of the 12.8 million SHIB. These transfers, which included 5,072,279, 5,078,720, and 1,000,000 SHIB, were sent to 'inferno' wallets. The first two transactions originated from the same unidentified wallet. In contrast, the burn metric showed a decrease of over 62% on Monday, with less than 100,000 SHIB burned in total. Meanwhile, the market performance of SHIB, the second largest meme cryptocurrency by market value, has been bearish. In the past 24 hours, SHIB's value has plunged by 15.77%, falling from $0.00002096 to $0.00001765. The majority of this decline was represented by a single red candle on an hourly chart, which pushed SHIB down by 7.77%. A small rebound followed, allowing SHIB to regain the $0.00001825 price tag. In other news, a representative of the SHIB team, Lucie, shared a message from the team's lead, Shytoshi Kusama. Kusama spoke positively about the team's future plans, stating that they are now building the 'castle' after constructing the 'moat'. Lucie also hinted at potential collaborations with several major players in the cryptocurrency space, stating, 'There is so much more to come.'

According to U.Today, the Shiba Inu community is facing an increasing threat from scammers and impersonators on Telegram. These malicious individuals are creating fake accounts to deceive SHIB holders. The community is being urged to remain vigilant and adhere to official communication channels to avoid falling victim to these scams. Scammers have been increasingly targeting the Shiba Inu community, exploiting the popularity of SHIB to deceive users. They often create accounts that closely resemble those of official team members or trusted community figures. ShibArmy Scam Alerts, a Shiba Inu-focused handle dedicated to exposing scams, has issued a crucial warning to the Shiba Inu community about these fake Telegram accounts. These impersonators or scammers often create accounts to provide misleading information, misdirect to fake websites, request funds from users for an emergency, or even obtain personal details that can be used maliciously. One such account impersonated Digarch SHIB, a prominent Shiba Inu community member on Telegram. Shiba Inu holders are urged to exercise caution and verify the authenticity of the people they connect with online. The Shiba Inu team has frequently emphasized the importance of relying on official communication channels for any information or updates. It is also crucial to understand that no official representative from the Shiba Inu team will ever reach out via private messages to request wallet synchronization or personal information. The Shiba Inu community is also encouraged to report any suspicious activity and share their experiences to help others avoid falling prey to these scams. Prompt reporting can help in taking swift action against scammers and protecting the broader community. By verifying official sources, avoiding private message solicitations, and staying informed through legitimate channels, SHIB holders can protect themselves from scammers. The key message to the Shiba Inu community is clear: stay safe, stay informed, and always double-check before connecting your wallets or sharing personal information.

According to U.Today, the Shiba Inu community is currently under threat from a wave of fraudulent websites aiming to steal user funds. Some of these scams are posing as wallet connection tools, targeting unsuspecting SHIB holders by luring them to connect their wallets under false pretenses. Shibarmy Scam Alerts, a handle dedicated to exposing scams, has issued a warning to the Shiba Inu community about these fake wallet connection tools. Recently, a number of fake websites have appeared across the cryptocurrency space. Shiba Inu holders are being advised that there is no legitimate reason to connect their wallets to any website for syncing with the network, refreshing rewards, or fixing liquidity pool issues. These functions do not require any external website connections, and any site suggesting otherwise is likely a scam. Shibarmy Scam Alerts has reiterated that there is no website that Shiba Inu holders need to connect their wallet to for it to sync up with the network, refresh rewards, or fix any issues they might be having with liquidity pools. The account also shares tips on how Shiba Inu community members can protect themselves from such scams. This includes verifying the legitimacy of a website before connecting their wallets and using official links from trusted sources. As a precaution, Shiba Inu community members are advised to keep themselves updated with the latest warnings and alerts from the Shiba Inu team. Sharing related information with fellow community members can also help prevent potential losses. The key takeaway for the Shiba Inu community is to remain alert and cautious; and before connecting their wallets to any site, they should always double-check its legitimacy.

According to U.Today, the Shiba Inu (SHIB) token has seen a significant increase in token burns, with the rate soaring by over 10,990% in the past 24 hours. This comes as millions of coins are transacted out of circulation. The increase in token burns occurred as the price of Shiba Inu dropped by more than 5%. The data reveals that an impressive 21,435,658 SHIB tokens were sent to dead wallets, effectively removing them from the circulating supply. Over the past day, the SHIB community has made two burn transactions, transferring 21,315,658 and 120,000 Shiba Inu tokens out of circulation. This represents a more than 30-fold increase from the 348% SHIB burn rate surge observed on Monday. The goal of these token burns is to reduce the overall Shiba Inu supply in circulation, making the asset more scarce and potentially increasing its market value. Currently, there are 583,157,019,095,268 SHIB tokens in circulation, with 410,726,512,305,470 SHIB tokens already burned. Almost all of this – 410 trillion SHIB – was burned by Ethereum leader Vitalik Buterin three years ago after he received them as a gift from the mysterious founder of Shiba Inu, who called himself Ryoshi. In other news, the SHIB community has been warned about potential scams involving new projects on the ShibaSwap DEX. A SHIB Discord admin, known under the alias DaVinci, has urged the community to be cautious about investing in new projects that claim to be connected to or supported by the SHIB developer team. According to DaVinci, con artists are issuing a large number of scam tokens in an attempt to defraud the SHIB community. In particular, many are making scam offers to invest in the TREAT token, a Shibarium ecosystem token that has not yet been launched.

According to U.Today, ShibArmy Scam Alerts has issued a crucial advisory to the Shiba Inu community, warning them about the rise of fraudulent schemes promising SHIB rewards. The advisory emphasizes that no official SHIB rewards distribution is currently being conducted by the Shiba Inu team. This warning comes at a critical time when numerous platforms and websites are falsely claiming to offer SHIB rewards. As the popularity of Shiba Inu continues to rise, scammers are increasingly targeting the community with deceptive offers of SHIB rewards. These fraudulent schemes often trick unsuspecting users into connecting their wallets to illegitimate websites, leading to substantial financial losses and compromised security. ShibArmy Scam Alerts, an account dedicated to protecting the SHIB community from scams, reiterates that the Shiba Inu team is not conducting any reward distributions at this time and cautions users against falling for these deceptive offers. ShibArmy Scam Alerts advises the community to be smart before connecting their wallets to any sites promising these rewards. It is crucial to conduct thorough research before engaging with any platform or website that promises SHIB rewards, as these are mostly run by bad actors seeking users to connect their wallets to gain such rewards. Connecting wallets to unverified sites can have severe consequences, including the theft of sensitive information or direct access to funds. The Shiba Inu community is reminded of the importance of staying informed and cautious. The only way to protect their investments and personal information is to stay alert and skeptical of offers that seem too generous. If something seems too good to be true, it probably isn't.

According to U.Today, Shiba Inu, a popular meme coin, experienced a reversal after failing to break into the $0.00003 zone, resulting in a loss of approximately 10% of its value. Despite this setback, the coin's upward trajectory may continue, but the failed breakthrough could serve as a significant indicator for future traders. Shiba Inu was once again unable to penetrate the $0.00003 region, leading to a quick bounce back and a loss of around 10%. This reversal is not considered significant, and the coin could still continue its upward trend. However, the inability to break through could be a critical sign for future steps. The coin has seen significant price action in recent hours, highlighting the volatility and uncertainty in the cryptocurrency market, particularly for meme tokens. After a strong rally that brought the price of Shiba Inu close to the significant resistance level of $0.00003, the price did not fare well, leading to a quick bearish run. This prompted Shiba Inu to retrace to around $0.000026, marking a loss of roughly 10% from its peak. Despite this pullback, the outlook for Shiba Inu remains cautiously optimistic. The token continues to trade above the 50-day EMA, consistently maintaining support over the past few weeks. The RSI is around 57, indicating a neutral zone and the potential for movement in either direction. This RSI level suggests that Shiba Inu is not overbought and could still attract more buyers, even if market sentiment reverses. However, the recent rejection from around $0.00003 could create a psychological barrier for traders approaching the token with caution. The key point to consider is how Shiba Inu is traded in relation to its actual support levels. If it holds above the 50-day EMA and consolidates peacefully, it could potentially establish a base to attempt to break over the resistance at $0.00003 once again. If it breaks below this support area, the correction could extend towards the second most crucial support level of about $0.000022.

According to Odaily, the notorious scammer Sahil Arora has been accused of manipulating the release of the celebrity Meme coin project JENNER. The user @PaemayNFT on platform X has disclosed this information. Arora has allegedly defrauded several projects over the past seven years, accumulating millions of dollars in the process. The user @PaemayNFT has warned the community about Arora's fraudulent activities, urging caution among potential investors. The celebrity Meme coin project JENNER is the latest in a series of projects that Arora has been involved in. Despite the allegations, Arora has yet to respond to the accusations. The case serves as a reminder of the potential risks involved in cryptocurrency investments, particularly in projects led by individuals with a dubious track record.

According to Foresight News, Pond Coin founder, known as Pauly, who is also a member of the Pepe team, has reportedly fallen victim to a phishing attack. The attack resulted in a loss of 1,155 Wrapped Bitcoin (WBTC), equivalent to approximately $71.2 million. In a previous report, Foresight News revealed that a whale address had been targeted by a phishing attack from an address with the same first and last digits. The attack led to a loss of 1,155 WBTC. The phishing team subsequently sold all the WBTC, converting it into 22,960 Ether (ETH). The funds are currently distributed across ten wallet addresses. Foresight News urges its readers to verify the accuracy of addresses before conducting any transactions. This incident serves as a stark reminder of the potential risks associated with digital transactions and the importance of maintaining robust security measures.

According to official news, Bitcoin native execution layer QEO Protocol, StarkWare, zk.Link, Mina Foundation and o1Labs announced the establishment of the L2O Alliance, which is committed to bringing native security, Internet scale and interoperability to Bitcoin chain applications and Layer 2 solutions. It is reported that the L2O Alliance aims to set standards for high-trust applications and Bitcoin Layer 2. Using Bitcoin's liquidity and security and zero-knowledge proof, developers will be able to build Layer 2 applications with more network effects. The L2O standard covers privacy, scalability, composability and compatibility with Bitcoin. In addition, the alliance is developing tools and resources for deploying Layer 2, and by coordinating standards between solutions, it will implement smart contract-like functions on the Bitcoin chain to ensure permissionless interoperability between applications.