Sat, 8/06/2024 – 8:54
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Contents
- SHIB burn rate’s sharp drop
- SHIB price negative performance
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The Shiba Inu team’s social media expert who is known within the community simply as Lucie has issued a major statement to warn the SHIB army. While making this warning, Lucie cited the “world’s greatest mind” in science – Albert Einstein.
Lucie’s tweet recommends SHIB fans and Shibarium developers to “stay away from negative people. They have a problem to every solution.”
Recently, the SHIB’s marketing lead Lucie and other team members have been frequently publishing various important warnings to the Shiba Inu global community. Those statements mainly chased one goal – to warn the SHIB army about the danger of crypto scams, including those which have emerged recently and are now targeting the community full of nascent and inexperienced investors.
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SHIB burn rate’s sharp drop
According to the data shared by the Shibburn analytics platform, over the last 24 hours, the SHIB community’s efforts on decreasing the circulating Shiba Inu supply have seen a sharp drop.
The data revealed by the platform shows that since last morning the SHIB burn rate has seen a decline of 18.78%. Still, despite this negative reading, a total of 8,748,598 SHIB meme coins has been burned, i.e. transferred to unspendable blockchain wallets and locked there for good.
SHIB price negative performance
On Friday, June 8, the second largest meme cryptocurrency by market capitalization size, SHIB, faced a sharp price decline of close to 8.4% printed by three consecutive red candles on an hourly chart.
This price drop followed a similar negative price action of the world’s largest cryptocurrency Bitcoin as it plummeted by 3.7%, dropping from above the $71,650 level to the $69,030 zone. This BTC plunge was likely provoked by the poor GameStop earnings in the first quarter and the 39% GME price drop that followed. Besides, BTC was pushed down by the disappointing US government’s employment report. At the time of this writing, Bitcoin is changing hands near the $69,350 level.
