💸 SHIB Burns Go Up in Flames? 🤯

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Alas, dear reader, the whims of fate have dealt a cruel blow to the SHIB burn metric, that most stalwart of indicators. According to the esteemed tracking platform, Shibburn, the past day has witnessed a precipitous plunge, a veritable cri de coeur, as the crypto market succumbed to the slings and arrows of outrageous fortune.

As the cryptocurrency world teetered on the brink of chaos, the SHIB token, that erstwhile darling of the meme coin set, suffered a dizzying 32% crash, leaving its devotees aghast and bewildered. The burn rate, once a proud and stalwart sentinel, now lies in tatters, a mere shadow of its former self.

Burn rate in free fall

A tweet from the data source, Shibburn, revealed that over the past 24 hours, the daily burn rate has plummeted by a staggering 91.61%, a decline of such magnitude that one cannot help but wonder if the very fabric of reality has been torn asunder. A paltry 2,602,610 SHIB meme coins were consigned to the great beyond, a mere fraction of the heady numbers of yore.

HOURLY SHIB UPDATE 📊
$SHIB Price: $0.00001474 (1hr 1.42% â–² | 24hr -14.74% â–¼ )
Market Cap: $8,674,250,354 (-14.99% â–¼)
Total Supply: 589,255,665,910,672

TOKENS BURNT 🔥
Past 24Hrs: 2,602,610 (-91.61% â–¼)
Past 7 Days: 1,162,030,479 (3614.46% â–²)

— Shibburn (@shibburn) February 3, 2025

And yet, dear reader, amidst the ruins of this crypto bloodbath, a glimmer of hope flickers. The weekly burn rate, that most stalwart of indicators, has soared by a dizzying 3,614.46%, a testament to the indomitable will of the SHIB community.

But alas, even this beacon of light is tempered by the knowledge that the Shiba Inu team’s introduction of the Shibarium automated burn mechanism, ShibTorch V2, has been a double-edged sword. While it has brought about a measure of efficiency and accessibility, it has also served as a stark reminder of the perils that lie in wait for even the most well-intentioned of endeavors.

SHIB crashes 32% as Bitcoin takes a tumble

The second-largest meme cryptocurrency, Shiba Inu, has taken a drubbing, its value plummeting by 34% in a dizzying free fall, before recovering somewhat to a still-staggering 25% decline. And at the heart of this maelstrom, dear reader, lies the specter of Bitcoin, that great and powerful behemoth, whose every move sends shockwaves throughout the crypto world.

For it was the trade tariff war, that most insidious of beasts, which has brought about this crypto apocalypse. The US president’s decision to impose tariffs on Mexico, Canada, and China has sent markets into a tailspin, with over $2.2 billion worth of liquidations made over the past day. And in the midst of this chaos, dear reader, the SHIB burn metric stands as a testament to the capricious nature of fate.

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2025-02-03 18:20