Shiba Inu Team Offers Market Crash Survival Tips

The Shiba Inu (SHIB) team has shared crucial advice on navigating the current market crash, as the crypto community grapples with a significant downturn. The pseudonymous marketing expert known as Lucie emphasized the importance of building strong connections during this challenging period, rather than focusing on short-term market fluctuations.

Over the past 24 hours, the second-largest meme coin by market capitalization, Shiba Inu, has experienced a substantial price decline of approximately 18%. After surging by more than 11% on Sunday following U.S. President Donald Trump's announcement of the U.S. strategic crypto reserve, SHIB has since crashed by roughly 18%. The coin is currently trading at $0.00001272, down from Monday's high of $0.00001538 per coin.

The global pioneer cryptocurrency, Bitcoin, has also been affected by the market downturn, losing around 10.8% of its value since Monday. The sharp decline, which saw Bitcoin lose roughly $10,000, comes as U.S. trade tariffs against Mexico and Canada take effect on March 4. The markets, including Bitcoin, have been reacting bearishly to this development for over a week.

A key SHIB metric, the burn rate, has also been negatively impacted. As of now, the burn rate shows a decrease of 95.44%, with less than a million meme coins burned. Only 707,213 SHIB have been destroyed so far, with just one burn transaction recorded since yesterday morning. However, on Monday, an anonymous whale transferred 12,776,503 SHIB to an unspendable wallet, effectively burning the coins.

To date, the combined efforts of the SHIB community and the Shiba Inu team have resulted in the burning of 410,744,723,433,234 Shiba Inu coins. Currently, 584,338,399,345,524 SHIB remain in circulation, with approximately 4,916,877,221,241 SHIB staked.