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The pseudonymous SHIB marketing top executive, Lucie, has published a tweet, reacting to the recent Shiba Inu price dip. She gave the community a glimpse of hope, saying that things should change in the bullish way very soon — in the fall.
Meanwhile, the SHIB price has rebounded, attempting to recover from the recent price decline.
SHIB price falls hard, SHIB executive reacts
By Saturday morning, the second-biggest meme cryptocurrency, Shiba Inu, has faced a decline of 5%, falling from $0.00001267 to the $0.00001204 price level.
Over the past week, this decline constituted a substantial 11% as SHIB lost $0.00001352 in the current bear market.
Lucie reacted to this decline by stating that fall is going to be bullish due to the upcoming rate cuts. As for now, she stated that even though the SHIB price may be down, “that should never stop us from building and adopting Shibarium around the world.”
In the meantime, the SHIB price has rebounded by 3% and at the time of this writing is changing hands at $0.00001240 per coin.
SHIB burns jump 157,726.72%
According to the Shibburn platform, over the past day, the SHIB burn metric has faced a significant four-digit increase thanks to millions of meme coins getting driven out of circulation and locked in dead-end wallets.
The aforementioned data source revealed a crazy 157,726.72% surge in the daily SHIB burn rate as the community has succeeded in moving 2,411,616 SHIB coins to unspendable wallets, i.e., burned them.
As for the weekly SHIB burns, there is a 76.32% decline here, while the amount of meme coins that has been burned stands at 14,068,717 SHIB.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team