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SHIB Price Plummets 18%: Lucie Advises Community Amid Market Crash

Shiba Inu (SHIB) price drops 18% as markets react to global economic shifts. Lucie, SHIB's marketing lead, urges the community to focus on building connections during the downturn.
Published on 2025-03-04

SHIB Price Plummets 18%: Lucie Advises Community Amid Market Crash

The cryptocurrency market, including Shiba Inu (SHIB), has experienced a significant downturn, with SHIB's price dropping 18% over the past 24 hours. This decline follows a brief surge after U.S. President Donald Trump announced plans for a strategic crypto reserve, which initially boosted investor sentiment.

Lucie's Guidance to the SHIB Community

Lucie, a pseudonymous marketing expert for the Shiba Inu team, has addressed the SHIB army, emphasizing the importance of building strong connections during this challenging period. She noted that while many crypto projects are making announcements, the current negative market sentiment is likely to overshadow these efforts. Lucie advises the community to focus on fostering relationships rather than reacting to short-term market fluctuations.

SHIB Price Volatility

SHIB's price fell sharply from $0.00001538 on Monday to $0.00001272 today, despite a minor recovery of 2.37%. This bearish trend mirrors Bitcoin's 10.8% drop over the same period, which has lost roughly $10,000 in value. The broader market downturn is attributed to factors such as President Trump's new trade tariffs against Mexico and Canada, which have been impacting investor confidence for over a week.

SHIB Burn Rate Declines

A key metric for SHIB, the burn rate, has also been affected by the market downturn. Currently, the burn rate is down by 95.44%, with only 707,213 SHIB burned so far. However, a significant burn transaction of 12,776,503 SHIB occurred on Monday, transferring these tokens to an unspendable wallet. To date, the SHIB community and team have collectively burned 410,744,723,433,234 SHIB, with 584,338,399,345,524 SHIB still in circulation and 4,916,877,221,241 SHIB staked.

Conclusion

As the cryptocurrency market continues to face headwinds, Lucie's advice to the SHIB community underscores the importance of resilience and collaboration. While short-term price volatility may dominate headlines, the focus on building strong connections and long-term growth remains a priority for the SHIB ecosystem.

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