Burn Surge Fails To Offset SOU NFT Scam Fears

• Shiba Inu tests $0.00000593 as burn rate surges 470.59% with 906,728 SHIB burned in the last 24 hours.
• Shibarium issues security warning about SOU NFT scam attempts targeting users through fake airdrop sites.
• Price trades below Supertrend at $0.00000706 and SAR at $0.00000721 after 63% correction from October highs.

Shiba Inu price today trades near $0.00000593, down 1.17% in the past 24 hours as the token tests critical support levels despite a 470% surge in burn rate. The move comes as Shibarium’s official Trustwatch account issued a security warning about multiple SOU NFT scam attempts targeting the community.

Burn Rate Surges 470% As 906,728 SHIB Destroyed

According to Shibburn data, the Shiba Inu burn rate exploded 470.59% in the last 24 hours, with 906,728 SHIB sent to dead wallets. Total burnt from the initial supply now stands at 410.75 trillion SHIB, leaving a circulating supply of 585.47 trillion tokens from the max total supply of 999.98 trillion.

Recent burn transactions show varying sizes, with the largest reaching 500,801 SHIB 10 hours ago. Other notable burns include 97,911 SHIB, 93,396 SHIB, and 100,146 SHIB in the past 11 hours. The accelerated burn rate represents a renewed effort to reduce supply, though the total burn remains under 0.2% of the circulating supply.

Despite the dramatic percentage increase, the absolute number of tokens burned remains modest relative to the massive supply. At current burn rates, it would take years to meaningfully impact the circulating supply and price dynamics. The burn mechanism continues to face criticism for being too slow to generate significant price impact.

Shibarium Warns Of SOU NFT Scam Attempts

Shibarium’s official Trustwatch account issued a security notice warning the community about multiple scam attempts involving the SOU NFT. The warning emphasizes that the SOU NFT will never be airdropped to wallets and can only be claimed through the official website shib.io.

“Do not click on shared, shortened, or copied links. Scammers often create fake websites that look identical to the real one in order to steal funds,” the security notice states. The warning instructs users to always type the official address directly into browsers and verify the correct domain before connecting wallets.

The SOU NFT is connected to Shibarium, Shiba Inu’s layer-2 scaling solution. Shibarium suffered a security breach in September last year, with reports suggesting the attacker used a flash loan to purchase 4.6 million BONE tokens. The incident severely disrupted the protocol’s activity, with daily transactions collapsing from millions to only a few hundred.

Price Breaks Below Supertrend And SAR Support

On the daily chart, Shiba Inu has broken below both the Supertrend at $0.00000706 and Parabolic SAR at $0.00000721. The token trades near the $0.00000593 level, testing support after a 63% correction from the October highs above $0.000016.

The chart shows:

• Supertrend bearish at $0.00000706, confirming sellers control momentum
• SAR flipped bearish at $0.00000721
• Price testing critical support near $0.00000578
• Descending trendline from October still intact

Shiba Inu dropped from above $0.000016 in October to current levels, marking one of the sharpest corrections among major memecoins. The burn rate surge has failed to provide price support, as the absolute number of tokens destroyed remains too small relative to the massive circulating supply.

A daily close above $0.00000706 would flip the Supertrend and signal the first sign of trend exhaustion. Breaking below $0.00000578 would expose the next demand zone near $0.00000517. Until SHIB can reclaim the Supertrend, sellers control the daily structure.

Outlook: Will Shiba Inu Go Up?

The next move depends on whether SHIB can hold $0.00000578 and reclaim $0.00000706.

• Bullish case: A hold above $0.00000578 with a close above $0.00000706 would flip the Supertrend and place $0.00000800 back in range as Shibarium security improves and burns continue.
• Bearish case: A breakdown below $0.00000578 exposes $0.00000517, with further downside toward $0.00000450 if SOU NFT scams undermine confidence. Losing $0.00000517 marks new lows.