The recent price drop of Shiba Inu has sparked discussion among the cryptocurrency community. The pseudonymous executive Lucie published a comment expressing hope for market recovery.
Facts About SHIB Price Drop
As of Saturday morning, the second-largest meme cryptocurrency, Shiba Inu, experienced a 5% decline, dropping from $0.00001267 to $0.00001204. Over the last week, this decline constituted a substantial 11%, marking a significant downturn in the current bear market.
Lucie's Optimism and Future Predictions
Lucie expressed hope that the fall will yield bullish trends due to upcoming rate cuts. She stated, 'Even though the SHIB price may be down, that should never stop us from building and adopting Shibarium around the world.'
Increase in SHIB Burn Metrics
According to the Shibburn platform, over the past day, the SHIB burn metric witnessed a significant increase of 157726.72%, as 2,411,616 SHIB coins were moved to unspendable wallets. However, the weekly burn rate showed a 76.32% decline, standing at 14,068,717 SHIB.
Despite the recent price declines and overall market volatility, the sentiments and actions within the Shiba Inu community reflect resilience and hope for a better future.
