Lucie, a self-proclaimed marketing guru, has emerged as a fervent advocate for the Shiba Inu community, taking to Twitter to uplift the morale of the SHIB enthusiasts. In a recent tweet, Lucie shares insights into SHIB’s market state. She notes SHIB’s current downturn due to its susceptibility to market fluctuations, a common trait among cryptocurrencies, including Bitcoin and alternatives. Describing the situation as “a bit bumpy,” Lucie recommends a long-term approach, cautioning against fleeting short-term gains.
Experiencing a substantial 25% decline since August 15, SHIB is now trading at $0.00000793. Over the last 24 hours, SHIB’s value has experienced a slight decline of 3%, reflecting the dynamic nature of market sentiment. However, the SHIB community remains unwavering. Notably, Shibburn, a prominent burn tracker, revealed that the SHIB community strategically capitalized on the price downturn. They adeptly sold numerous meme coins during the dip, transferring 106,052,734 SHIB across 15 distinct transactions into secured wallets.
Shiba Inu Burns And Shibarium’s Resurgence
In a series of remarkable transactions, three sizable SHIB amounts, 27,848,584 SHIB, 18,517,304 SHIB, and 11,339,375 Shiba Inu meme coins have been directed towards inactive wallets for burning. This tactical maneuver capitalizes on the current price dip, offering an opportunity for more economical coin acquisition to facilitate future burns.
The resurgence of Shibarium’s Layer 2 solution has been a focal point for SHIB enthusiasts. With a staggering 350,000 transactions already conducted on the platform, each interaction contributes to the ongoing burn of SHIB. A unique mechanism is at play here: a portion of the gas fees paid in BONE, a native token, is earmarked for eventual conversion into SHIB and subsequent burning.
Shytoshi Kusama, the leader of Shibarium’s development team, shared a recent blog post outlining the progress of transactions and connected wallets within the revitalized Shibarium ecosystem. The platform boasts over 65,000 linked wallet addresses, with Kusama extending gratitude to key contributors, including the Polygon (MATIC) team, the Unification Fund, and the decentralized Shibarium team.
As SHIB’s value experiences fluctuations and its ranking on CoinMarketCap temporarily slips, the unwavering SHIB community continues to leverage strategic coin burns and Shibarium’s advancements. With Lucie’s encouragement to view the journey through a long-term lens, the SHIB army seems determined to navigate the evolving crypto landscape with persistence and resilience.
Related Reading:| Shiba Inu’s Burn Strategy: 410 Trillion Tokens Eliminated