The SHIB community has intensified its token burn, leading to the destruction of nearly half a billion SHIB coins. Shibburn, a prominent tracking platform, reported a massive 1,837% increase in SHIB burn rates, amounting to 463,450,468 SHIB burned. This rise in burn activity coincided with a 24% price jump for SHIB, taking its value to $0.00002753.
Major Burn Transactions Led by a Mysterious Whale
Within the past day, seven significant burn transactions played a pivotal role in reducing the SHIB supply. Notably, a mysterious whale took center stage, conducting the largest burn of 412,144,084 SHIB. Furthermore, other substantial transactions included burns of 46,754,762; 3,000,000; and 1,240,000 SHIB, which were sent to unspendable blockchain addresses.
Lucie, a Shiba Inu marketing expert, recently voiced her support for decentralized finance (DeFi) on social media platform X. Lucie emphasized DeFi’s core purpose—allowing users to maintain full control over their assets through self-custody, removing the need for centralized intermediaries.
She warned that centralized exchanges expose users to potential threats, such as data breaches, surveillance, and manipulation, as they control the users’ wallets and assets.
Push for Blockchain-Based Crypto Purchases
Lucie further suggested that instead of relying on centralized exchanges, platforms should focus on developing ways to buy crypto directly on the blockchain using fiat currency. She argued this method would be safer, faster, and cheaper, helping users avoid the risks associated with third-party oversight.
Moreover, Lucie stressed that decentralized purchasing options protect user privacy and keep their assets under their own control. To Lucie, the primary goal of DeFi is to enable private and secure crypto transactions that uphold the foundational principles of blockchain.
She urged platforms to stay true to these values, warning that they could undermine the freedoms blockchain technology aims to safeguard if they fail to do so.
