Shiba Inu token’s (CRYPTO: SHIB) official X account dropped a witty Hungry Ghost Festival reference on Monday, positioning the Shiba Inu mascot as the ghosts’ loyal guard dog.
SHIB: The Loyal Friend of Ghosts
Shiba Inu replied to Phantom Wallet’s “heating up” X post featuring a neon ghost symbol with its own glowing Shiba Inu dog logo—this time sporting fangs and a much deadlier vibe.
“Even ghosts need a guard dog. Fortunately, we know a guy,” the X account said.
The Ghost Festival, or Hungry Ghost Festival, is a traditional festival in East and Southeast Asia that honors deceased ancestors and feeds wandering, neglected spirits who roam the earth when the gates of the underworld open.
This year, the Ghost Month runs from Aug. 13 to Sept. 10, corresponding to the seventh lunar month. Aug. 27 marks the Hungry Ghost Festival, which is the height of the observance.
SHIB Token Burns Spike
SHIB rose 5.74% over the past month, outperforming the broader memecoin sector, which saw its total market capitalization fall 3.57%.
SHIB also outperformed its senior rival Dogecoin (CRYPTO: DOGE), which is down 3.59% over the past month.
Shiba Inu token burns have exploded 515% in a week, with 112.37 million SHIB exiting circulation on Monday, according to Shibburn.
Over 410.8 trillion SHIB tokens have been burned to date, which is about 41.08% of the first supply of 1 quadrillion tokens
Price Action: At the time of writing, SHIB was exchanging hands at $0.000004392, down 1.02% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin has plummeted 36%.
Photo Courtesy: vlastas on Shutterstock.com
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