According to U.Today, the Shiba Inu team's social media expert, known as Lucie, has issued a significant warning to the SHIB community. Lucie's message, which cites Albert Einstein, advises SHIB enthusiasts and Shibarium developers to avoid negative individuals who pose problems to every solution. This warning comes as part of a series of alerts from Lucie and other team members aimed at protecting the Shiba Inu global community from the threat of cryptocurrency scams, particularly those targeting inexperienced investors.
In recent data shared by the Shibburn analytics platform, the efforts of the SHIB community to reduce the circulating Shiba Inu supply have seen a significant decrease. Over the past 24 hours, the SHIB burn rate has declined by 18.78%. Despite this downturn, a total of 8,748,598 SHIB meme coins have been burned, meaning they have been transferred to unspendable blockchain wallets and permanently locked away.
On June 8, SHIB, the second-largest meme cryptocurrency by market capitalization, experienced a sharp price drop of nearly 8.4%. This decline mirrored the negative price action of Bitcoin, the world's largest cryptocurrency, which fell by 3.7%, dropping from above the $71,650 level to the $69,030 zone. This drop in Bitcoin's value is likely due to poor GameStop earnings in the first quarter and the subsequent 39% GME price drop. Additionally, Bitcoin was negatively affected by a disappointing U.S. government employment report. At the time of writing, Bitcoin is trading near the $69,350 level.