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7,130 Bitcoin (BTC) Inflow to Large Wallets Sets New Historical Record.

Many analysts are focusing on the bearish slump on the market as Bitcoin has failed to breach the $62,000 resistance level in recent times. However, a number of market whales are capitalizing on the market drawdown to stack up on the digital currency. At the time of writing, the price of Bitcoin is changing hands for $61,207.22, up by 0.31% in 24 hours. This discount has served as a major entry point for long-term buyers.

Drawing on this, data from crypto analytics platform IntoTheBlock shows that despite market FUD, the net inflow into Bitcoin's largest wallets reached its highest level since late May to set a new historical record. The platform hinted that wallet addresses holding no less than 0.1% of the total Bitcoin supply have added 7,130 Bitcoin units.

This massive BTC was valued at approximately $436 million and marks the whale volume for June 24 alone. This ongoing acquisition of Bitcoin by a large whale comes as a much-needed vote of confidence for the digital currency. With this backing from large whales, price resilience is formed and might help trigger a rebound in the price of the asset.

The spot Bitcoin ETF market also comes as a major dormant propeller for the price of BTC. Thus far this month, there has been a consistent outflow of funds from these spot Bitcoin ETFs, fueled by the capital exodus from Grayscale and Fidelity Investments, among others.

While Bitcoin determines the general direction of the crypto industry, its current resilience might be complemented should the spot Ethereum ETF bag S-1 approval in the near term. Already VanEck has filed form 8-A regarding its ETH ETF product, implying that the SEC's approval for trading is now one step closer.

Since the approval of the spot Ethereum ETF in May triggered a market rally, there is an expectation that the news of trading approval might create a similar result.

Ethereum (ETH) Price Prediction for June 25.

ETH/USD.

The price of Ethereum (ETH) has gone up by 1.88% since yesterday.

On the hourly chart, the rate of ETH is in the middle of the local channel, between the support of $3,342 and the resistance of $3,393.

As most of the ATR has been passed, ongoing sideways trading around $3,370 is the more likely scenario until tomorrow.

On the bigger time frame, neither buyers nor sellers are dominating. However, if the decline continues to $3,300, traders may witness a test of the $3,200 zone until the end of the week.

From the midterm point of view, one should pay attention to the weekly bar closure. If it happens far from its low, it is possible to see a bounce back to $3,600.

Ethereum is trading at $3,417.47 at press time.

Binance Coin (BNB) Price Prediction for June 25.

BNB/USD.

The price of Binance Coin (BNB) has gone down by almost 1% over the last 24 hours.

On the hourly chart, the rate of BNB is trying to rise after a false breakout of the local support level of $568.7.

However, there are low chances to see a test of the resistance by tomorrow, as not enough energy has been accumulated yet.

On the bigger time frame, the price of BNB is far from the main levels. But if the rate gets back to the $550-$560 zone, one can expect a test of the $540 mark within the next few days.

From the midterm point of view, the picture is quite similar, however, one should wait until the bar's closure. If it happens around the current prices, sideways trading in the area of $540-$580 is the more likely scenario.

BNB is trading at $578.03 at press time.

Dogecoin (DOGE) Hits Crucial Point on Chart:
Analyst.

Cryptocurrency analyst Jake Wujastyk has taken to the X platform to share his take on what direction Dogecoin's price move may take further.

Wujastyk shared a screenshot showing that DOGE has reached a "make or break" point from where the meme coin's price can either start plunging deeply or it will skyrocket.

Notably, over the last 24 hours, the original meme-inspired cryptocurrency has printed an impressive price increase, surging by more than 8.3% and reaching the $0.12537 level, where it is changing hands as of this writing.

Over the last 24 hours, Into TheBlock on- chain data provider shared that a tremendous $1 billion worth of Dogecoin has been moved by anonymous whales. These massive transactions were worth $100,000 minimum, according to the published report.

This uprise signifies a massive increase in the activity of financial institutions as they have started buying and selling DOGE at a higher pace than before.

Overall, in the past 24 hours, the overall transaction volume of Dogecoin has surged to 8.45 billion DOGE – that represents an increase of 37%.

Notcoin (NOT) Burns $3 Million and Announces New Tokenomics.

Notcoin, one of the big sensations of this year on the crypto market, and you could say the whole internet, announced the burning of a colossal number of NOT, the native token of the popular tap-to-earn game.

According to a recent update on its social media platform, the company has burned NOT tokens worth $3 million, drastically reducing the token's supply. The announcement also mentions an incentive plan worth $4.2 million, aimed at rewarding its Gold and Platinum users on the Notcoin Explore platform.

Currently, the circulating supply of NOT tokens stands at 102.49 billion, with a market value of $0.01432 per token. This positions Notcoin's market capitalization at approximately $1.47 billion, securing its rank as the 59th largest cryptocurrency, according to CoinMarketCap.

The token burn is part of Notcoin's broader strategy to enhance the tokenomics and increase value for its users. By reducing the total supply, the popular tap-to-earn project aims to create scarcity, potentially boosting the token's value and appeal.

This move aligns with ongoing efforts to ensure that the primary beneficiaries of Notcoin are its community members.

What is Notcoin (NOT)?

Notcoin is a Web3 tap-to-earn game launched on Jan. 1, within the TON ecosystem. Technically, Notcoin is a mini app inside the Telegram messenger. The project caught the attention of users thanks to the announced NOT coin giveaway.

The developers offered application users the chance to mine tokens by simply tapping on their smartphone screen. The game's audience exceeded 35 million people within a couple of months.

Ethereum ETF Approval May Be Imminent as VanEck Steps Up.

VanEck has just taken a major step toward approval of a spot Ethereum ETF, marking a potential breakthrough for the crypto industry. Thus, it has just been reported that a major portfolio manager has filed Form 8-A, which is an important procedural step in the ETF approval process.

This action could also signal the imminent approval of an exchange-traded fund for the main altcoin, when a similar action from VanEck in the past preceded the approval of the Bitcoin ETFs by exactly seven days.

Form 8-A is a filing for the SEC used by a company to register a class of securities for trading on a public exchange. When a company submits such a form, it signifies their intention to list and trade their securities on platforms like the NYSE or Nasdaq.

Such a development could signal that VanEck has gotten the green light to file an application from the regulator. Bloomberg senior ETF expert Eric Balchunas writes that the action is a "good sign" and that approval of spot Ethereum ETFs could happen within seven days before July 2.

The date right before Independence Day in the U.S. has been called before for the altcoin's ETF approval. Balchunas and other industry experts, including Nate Geraci, have speculated that the SEC could give approval to ETH ETFs very soon, before that holiday. The new development from VanEck seems to fit perfectly into such a scenario.

58 Million XRP in 24 Hours: What's Happening?

The XRP price is continuing to struggle without any notable gains. However, this has not stopped crypto whales from continuing their buying spree. Two major transactions have revealed investor sentiment around XRP during the recent market slump.

A whale bought around 28.77 XRP tokens earlier today. Reported by Whale Alert, this transaction is equivalent to almost $13.77 million. The XRP whale transferred these coins from crypto exchange Binance to their own wallet.

Similarly, another whale purchased almost 29.29 million coins a few hours after the first transaction. This transaction seems to be conducted by a different holder, as seen by their wallet address. However, this XRP whale also bought these coins, worth around $13.91 million, from Binance.

Collectively, nearly 58 million XRP coins have been purchased in the last 24 hours. This is a staggering amount considering the fact that the XRP price has failed to rally in the recent past. However, these whales are clearly bullish, and their buying spree has the potential to inject some momentum into the market.

What does it mean for XRP price?

There seems to be nothing positive for XRP in terms of its trading price. Per CoinMarketCap, the coin is trading at $0.4758, with a dip of 0.12% over the last 24 hours. The price of XRP has dipped 11.16% over the past month, painting a clearer picture of the bearishness that surrounds the coin.

XRP, the brainchild of Ripple Labs, has been struggling for quite some time now. However, this rising whale accumulation can help it break the shackles. Whales are known to have large holdings of different coins. Their buying and selling can leave major impacts on a particular crypto.

In the case of XRP, these two whales have
accumulated the coin. This is considered a
positive sign, so we may see slight positive
movement in the XRP price. However, it
can be a long term scenario, and we might not see upward movement in the short
term.

If Bitcoin (BTC) Drops Below $57,000, These 3 Things Will Happen.

Bitcoin's plunge toward $57,000 was the last thing expected after the catastrophic drop below $65,000. However, it has become a reality, and the market will have to act one way or another. Here are three potential outcomes if Bitcoin breaks below the crucial $57,000 level.

200 EMA being invalidated as support.

The 200 EMA will no longer be valid as a support level if Bitcoin falls below $57,000. The 200 EMA has acted as a key technical indicator to evaluate the general trend. If Bitcoin were to lose this support, it would enter bearish territory and might even worsen the sell-off. As traders and investors lose faith in Bitcoin's capacity to sustain above crucial support levels, this could result in a further drop in its price.

More liquidations.

A lot of buyers may try to catch the knife and purchase Bitcoin at what they perceive to be a low price around the $56,000 mark. There may be more liquidations, though, if Bitcoin is unable to maintain this level. An additional sell order may be executed as a result of buyers' stop-loss orders being triggered, further lowering the price. It may be more difficult for the price of Bitcoin to stabilize if there is more selling pressure, which would accelerate the decline.

Possible selling and stalemate.

Due to a lack of liquidity, some institutional selling operations may come to an end if Bitcoin drops below $57,000. As buyers and sellers await more favorable conditions, this scenario could result in a sideways market, where Bitcoin trades between $55,000 and $60,000. On the other hand, Bitcoin may fall as low as $50,000 if institutions keep selling.

Bitcoin's price is greatly influenced by the actions of institutional investors, who hold a substantial portion of the market. It may be difficult for Bitcoin to recover in the near term if the sell-off continues, as this could result in an extended bear market.

Shiba Inu (SHIB) Skyrockets 6,018% in Crucial Metric.

Shiba Inu (SHIB) has started to inspire optimism in its community amid some notable developments. The meme coin has skyrocketed 6,018.22% today in its burn rate, per token burn tracking service Shibburn. Thanks to this latest surge, over 10.24 million SHIB tokens have been burned in the last 24 hours.

This is a crucial update for the Shiba Inu community as the crypto market has remained in the doldrums in the past few weeks. The Dogecoin (DOGE) rival also suffered great losses in terms of its trading price. However, things appear to be shifting after this surge in its burn rate.

For those who do not know, sending SHIB tokens to dead wallets is a highly efficient practice. It is useful in making it a deflationary coin. Moreover, it helps in making the overall SHIB ecosystem more efficient and streamlined.

The Shiba Inu community has successfully burned more than 410 trillion coins. The current circulation supply of the coin is just over 583 trillion tokens. These figures are enough to emphasize the necessity of these token burn events.

SHIB price recovery potential.

Amid this latest surge in burn rate, the SHIB price is also showing signs of a potential recovery. As of the time of writing, Shiba Inu is trading at $0.00001724. The price of the highly popular meme coin has surged 2.63% in the last 24 hours, per CoinMarketCap.

Interestingly, SHIB has witnessed a rise of 27.89% in its 24-hour trading volume. Currently at $320.98 million, the rising volume shows the changing sentiment on the crypto market. Traders appear to be bullish on the meme coin after the recent crypto market slump. They may be expecting another Shiba Inu price rally.

The skyrocketing burn rate coupled with the rising trading volume are indicating a possible rebound from current levels. Such developments, along with the support from the community, have the potential to push the SHIB price to higher levels.

SHIB, ADA, SOL Poised for Epic Rebound If This Indicator Is Validated.

Cryptocurrencies Shiba Inu (SHIB), Cardano (ADA) and Solana (SOL) might be on the verge of a significant price rebound. In a tweet, crypto analyst Ali pointed out that the TD Sequential indicator is presenting buy signals on the daily charts for these digital assets, suggesting that an upswing could be imminent.

-Shiba Inu (SHIB)

The appearance of a buy signal on SHIB's daily chart could indicate that the recent downtrend might be losing steam. If the indicator's signal proves accurate, SHIB may experience a comeback in buying activity, perhaps sending the price higher.

The first indication of a bullish turnaround would be a break above the daily SMA 200 at $0.00001891. A subsequent break above the daily SMA 50 at $0.00002288 might fuel the bullish trend, perhaps targeting $0.00002940 and $0.0000328. At the time of writing, SHIB was up 1.45% in the last 24 hours to $0.00001711.

-Cardano (ADA)

Cardano (ADA) fell to $0.362 on Monday, the lowest level since November 2023. The TD Sequential buy signal for ADA may indicate that the current bearish trend might be nearing its end. At the time of writing, ADA had risen 4.80% in the last 24 hours to $0.389.

If ADA sustains its current rebound, bulls may target the daily SMA 50 at $0.44 and the daily SMA 200 at $0.542. If this proves successful, a 100% rally appears possible, with targets at $0.68 and $0.8.

-Solana (SOL)

At the time of writing, SOL was up 8.91% in the last 24 hours to $135.98. Solana is attempting a decisive break above the daily SMA 200 at $133, which could be critical to its bullish momentum. A break over the daily SMA 200 at $156.19 would be a strong indication, aiming for highs of $188 and $204.

The coming days will be crucial in determining whether SHIB, ADA and SOL can capitalize on these buy signals and begin a sustained upward trend.

XRP Paints Double-Bottom Pattern? Can Price Recover Now?

Despite the market drop that we have witnessed in the last few days, XRP's price performance was relatively stable despite the fact that the digital asset has reached the $0.46 price level, which is considered the multi-month bottom for the asset. But the key here is that XRP is forming a pattern somewhat similar to a double- bottom.

A bullish reversal pattern, known as the double-bottom pattern, frequently denotes a change in trend from one of decline to one of increase. It develops when the price of an asset reaches a low rise then declines again to a comparable low. Because of the W shape formed by the two low points, buyers are taking the initiative, and selling pressure is lessening.

According to the chart, XRP has discovered strong support at the $0.46 mark. This support level has been put to the test several times, and XRP has succeeded each time. The fact that the market keeps testing and bouncing off the support level indicates that there are buyers who are stopping any further declines at this price.

A price reversal may appear if XRP maintains this support level and the double-bottom pattern plays out as expected. The $0.5 level is the initial target of this possible move. Based on a popular technique for estimating price targets in technical analysis, this target is determined by adding the pattern's height to the breakout point.

Additionally, there are indications of bullish divergence on the relative strength index, which suggests that the downward momentum is waning. This might be a reliable indicator of a possible price reversal when combined with the double- bottom pattern.

However, it is important to remember that technical patterns are not foolproof; they can offer some insights, but they may not be the go-to scenario for any asset. Price changes can be greatly influenced by the overall state of the market.

Major Pepe Whale Capitulates.

According to data provided by blockchain analytics platform Lookonchain, a major PEPE whale capitulated earlier today, depositing a staggering 700 billion tokens ($7.8 million) to the Binance exchange.

The whale currently has $9.23 million worth of PEPE left after taking a loss of $3.5 million.

At press time, the PEPE cryptocurrency is trading at $0.00001197 after adding 10% over the last 24 hours. However, the meme coin is still down 21% over the past month.

The meme coin sector is currently in the green after Bitcoin experienced a relief rally. For now, dogwifhat (WIF) and Bonk (BONK) are leading the recovery with their daily gains nearing 20%.

Meanwhile, a whale who recently lost a whopping $4.6 million on the WIF token ended up buying the token back at a higher price, according to Lookonchain.

It is worth noting that WIF is down a staggering 61% from its current all-time high of $4.83 which was achieved on March 31. This makes it one of the worst- performing digital assets from the meme coin sector. For comparison, PEPE is down 32% from its March 27 peak.

1 Trillion Shiba Inu (SHIB) Transfer Stuns World's Largest Exchange.

The relentless crypto market sell-off that has been going on for the past eight days seems to have reached an end today. At the moment, when the amount of negative news reached the maximum, and the mood of market participants would not be enough to call fear, the sales stopped for a while, and the long-awaited rebound followed.

Against this backdrop, interesting on-chain details surfaced, including some of the most popular coins, such as Shiba Inu (SHIB) and Pepe Coin (PEPE).

Thus, two major crypto whales made headlines by depositing a combined $25.95 million worth of these tokens onto Binance within the past 14 hours, reports Spot On Chain.

Whale ^ prime prime 0 * 42 a^ prime prime made a stunning move by transferring 1.088 trillion SHIB, valued at $18.12 million.

Analyzing the whale's activity reveals an accumulation period during November and December 2023, coinciding with the market bottom. The whale is estimated to have profited by $8 million, marking a substantial gain of 79%.

PEPE in the mix too.

In another eye-catching transaction, whale "0x837" deposited 700 billion PEPE to Binance, equivalent to $7.83 million, around three hours ago. Currently, this whale holds another 800 billion PEPE, valued at $9.22 million.

However, this entity faces an estimated total loss of $3.47 million, representing a 15% decline.

Needless to say, such deposits to the world's largest crypto exchange can hardly be considered a bullish signal, but rather, quite the opposite. Be that as it may, the next few days will be critical in determining the direction of the crypto market and whether the worst of the sell-off is indeed over.

Dogecoin (DOGE) Creator Reveals Secret to Surviving Crypto Bloodbath.

Billy Markus, also known as Shibetoshi Nakamoto, the co-creator and founder of Dogecoin (DOGE), recently shared his perspective on navigating the notorious turbulence of the crypto market.

Amid recent eight-day crypto market sell- off that has only just stabilized, Markus advised viewing crypto investments as akin to throwing money into a fire. This mindset, he suggests, makes the market's volatility more tolerable.

The recent market downturn, which had a significant impact on cryptocurrencies, appears to have paused. Bitcoin's price fell to $58,400, its lowest since early May. The TOTAL index showed a 6% decline in the overall crypto market capitalization, translating to a $136 billion outflow. Additionally, over $300 million worth of positions were liquidated within 24 hours.

Despite the humorous and sarcastic tone, the approach offered by Nakamoto may provide a valuable lesson for investors. His suggestion to treat crypto investments with a degree of detachment may help investors manage their expectations and maintain their composure during market fluctuations.

Markus' remarks came at a critical moment when the market sentiment was heavily influenced by fear. The sell-off had reached a peak in negative news of Mt.Gox, creating an atmosphere of extreme caution among investors. However, after reaching relevant local bottom levels and the subsequent rebound offered a glimmer of hope.

Dogecoin, like many other digital assets, was not immune to the sell-off. Thus, the price of the most popular meme cryptocurrency fell by more than 8%, reaching $0.113. Interestingly, however, the price of DOGE has not updated the lows set back on June 18, which may signal a strong demand.

$42 Billion Volume Boom Triggers Epic Bitcoin (BTC) Price Resilience.

The ongoing sell-off in the crypto ecosystem might be taking a breather as the price of Bitcoin (BTC) has finally formed support at the $61,100 mark. At the time of writing, the combined crypto market cap is down 0.55% to $2.56 trillion, and Bitcoin has pared off its losses. It is down by 1.83% to $61,113.37, according to data from CoinMarketCap.

Unusual trading volume impact.

Over the trailing seven-day period, the price of Bitcoin has slipped by more than 7% in what marks one of its worst weekly performances this month. However, on- chain data pegs the trading volume at $42 billion, up 135.56% in a 24-hour period.

This triple-digit surge underscores a growing but subtle bullish sentiment in the price of Bitcoin. While this positive sentiment is not showing yet, it is vital in printing a recovery from the current bearis h onslaught. In recent times, the Bitcoin price has not traded as low as it currently is, with the spot ETF market providing the much-needed cushion up to now.

At the moment, the massive rally in Bitcoin trading volume is entirely retail-driven considering how spot BTC ETF products have continued to record outflows.

Revival trigger to watch.

While Bitcoin is showcasing some forms of resilience, the sustained revival hinges mostly on external factors. While not many outside forces can trigger a Bitcoin bull ride, the potential approval of S-1 registration filings for a spot Ethereum ETF might do the trick.

Also, the ongoing recovery in the altcoin ecosystem might complement the revival in the near term. Ultimately, the Bitcoin price is poised to hit bottom, wherein the price will print the long-awaited rebound.

The major takeaway is that many Bitcoin w hales and addresses are still in profit, and this will help keep the recovery in check when short-term holders start taking profits on revival.

Bitcoin (BTC) Price Prediction for June 24.

BTC/USD.

The price of Bitcoin (BTC) has declined by 4.40% over the last 24 hours.

On the hourly chart, the rate of BTC remains bearish as it is coming back to the local support level of $60,580. If the drop continues, one can expect a test of the vital zone of $60,000 shortly.

On the bigger time frame, there are also no reversal signals yet. If the breakout of $60,000 happens, there is a high chance to see a further correction to the support of $56,500.

Such a scenario is relevant until the end of the current week.

From the midterm point of view, it is too early to make any distant predictions, as the week has just begun. However, if the bar closes around current prices, traders may witness a test of the support level.

Bitcoin is trading at $60,753 at press time.

Top Meme Coins BRETT, PEPE, FLOKI Plummeting as Crypto Dips.

Major meme cryptocurrencies are underperforming today. Ninety percent of top meme coins are in red, while the majority of them are posting double-digit losses. However, two dog-coins from the top 200 cryptos by market cap managed to surge even against such a painful background.

"PEPE's best friend," BRETT, among the worst performing cryptos today.

Today, June 24, 2024, Based Brett (BRETT), one of the largest meme coins on the Base (BASE) blockchain, is down by 9.4%. As such, it is a fourth worst performing crypto in the top 100. It only managed to outperform Ordi (ORDI) and Notcoin (NOT), while Uniswap (UNI) registers similar losses.

Based Brett (BRETT) is close to losing the $1.3 billion market cap level. Other major meme coins are also under pressure today.

Shiba Inu (SHIB) and Pepe (PEPE) are down by 5.2-5.3%. Meanwhile, the market benchmark for cryptocurrency segment is 4% today.

Dogecoin (DOGE) lost 4.1%, while other largest meme cryptos Bonk (BONK) and Floki (FLOKI) are also in the red but are slightly outdoing the market average.

In total, the segment of meme cryptos lost 5% in the last 24 hours, CoinGecko data says.

Dogwifhat (WIF), Mog Coin (MOG) in green despite painful start of week for crypto.

At the same time, two large meme coins managed to post minor gains despite market hostility. Dogwifhat (WIF), a major Solana meme cryptocurrency, added 1.1%, while Mog Coin (MOG) is up by 4% on Ethereum (ETH) and Base (BASE) platforms.

As the cryptocurrency market sees over $300 million erased in shorts and longs due to liquidations in the last 24 hours, meme coins are also among the worst affected by the dropdown.

DOGE and PEPE traders lost over $7.5 million, while ConstituitionDAO (PEOPLE) and Dogwifhat (WIF) are also on the list of the 10 most affected cryptos, CoinGlass data shows.

Bitcoin (BTC) is down by 4.8%, while Ethereum (ETH) lost 5.5% on the news of the multi-billion Mt. Gox compensation plan and geopolitical tensions.

Tron (TRX) Surpasses Shiba Inu (SHIB) in Fresh Market Shift.

Tron (TRX) has surpassed Shiba Inu (SHIB) in market capitalization in a notable shift within the cryptocurrency market rankings.

Shiba Inu has maintained a strong presence on the market, with its vibrant community known as the "Shibarmy." However, its market cap of $9.899 billion, while impressive, now places it just behind Tron.

Tron now holds the position as the 11th largest cryptocurrency with a market cap of $10.42 billion. Meanwhile, Shiba Inu now sits in 12th place, with a market cap of $9.899 billion.

The market shift comes amid a broader drop on the cryptocurrency market partly caused by monetary policy uncertainties, including concerns about the Federal Reserve's ability to cut interest rates fast from a two-decade high.

Shiba Inu fell as much as 9%, trading at $0.00001668 at press time. Shiba Inu prices have likewise dropped by 16.13% in the last week and 29% over the previous 30 days. Conversely, Tron fell 0.49% in the last 24 hours to $0.1194 and is still up 2% weekly.

Tron, a blockchain for creating decentralized applications, has been
gaining momentum of late. In the most
recent milestone, TRON's total accounts
have reached 239,304,736, exceeding 239
million. TRON ecosystem has developed
rapidly and continues to make efforts to
decentralize the web.

Shiba Inu's ecosystem has also been growing, with projects such as Shibarium gaining traction.

Shibarium, the layer-2 scaling solution for Shiba Inu, has recently seen a considerable spike in activity, as evidenced by a dramatic increase in transaction fees and a big increase in new transactions.

Shibarium transaction fees increased by a whopping 388%, from 16.22 BONE on June 17 to 78.18 BONE on June 23, according to statistics from blockchain explorer Shibarium Scan. This increase in transaction fees implies higher network transaction demand, indicating more user activity and engagement with Shiba Inu- related applications and services.

Shytoshi Kusama's Crucial Message on Crypto Market Sent to SHIB Community.

The official social media marketing expert of the SHIB team, called Lucie, has
published a post on the X platform to
address the current negative state of the
cryptocurrency market and to send a
message from SHIB leader Shytoshi
Kusama to the meme coin's vast community.

Shytoshi Kusama
sends controversial message.

Lucie took to her X handle to talk about the state that the cryptocurrency market is in. While everyone wants a bull run, she wrote, "we are facing challenges and seeing bad actors rushing in" to take advantage of the situation and inexperienced investors.

Lucie has compared the cryptocurrency space to the gold rush that the U.S. saw in the 19th century. The key observation the SHIB executive pointed out to the SHIB community here was that "it takes time to build a legacy.” Besides, Lucie reminded the community that not every one will want to see decentralization rule since this is "a painful process." Many players would prefer to leave Shibarium and move on, but in the end, the efforts of the developers who work hard to embody their visions will succeed, according to her tweet.

Lucie also quoted what the mysterious lead developer Shytoshi Kusama told her this week; he admitted to not being perfect. Lucie says that nobody really is, however, they are together trying to "create something great."

SHIB price plummets.

Over the last 24 hours, the second most popular meme cryptocurrency on the market, SHIB, has painted a substantial 8.13% decline, as it fell from $0.00001815 to the $$0.00001675 price mark, where it is changing hands at the time of this writing.

Over the past week, since June 16, Shiba Inu has shed a whopping 20.37% of its price, falling from the $0.00002101 level to the current price line.