SHIB’s Dramatic Downfall: A Comedy of Errors in Cryptocurrency! 🎭

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Oh, darling, gather ’round! It appears our beloved Shiba Inu (SHIB), the second largest meme cryptocurrency, has taken a rather unfortunate tumble, as revealed by the ever-so-reliable CryptoQuant. One might say it’s akin to watching a grand performance where the lead actor forgets their lines—utterly tragic! 🎭

SHIB Exchange Reserve Takes a Nose Dive

Currently, the SHIB reserve on exchanges has plummeted to a staggering 96.6 trillion SHIB from a rather robust 135,402,530,126,750 SHIB back in January. One can only imagine the gasps from the audience! 😱

Just a year ago, in February, our dear SHIB was frolicking with 165,824,798,782,284 SHIB across exchanges. And in April 2022, it was practically a star with nearly 200 trillion meme coins—almost half of the circulating supply! How the mighty have fallen! 🎭

This year’s decline seems to coincide with a rather dramatic price drop, as SHIB has lost over 60% of its value since December 2024, plummeting from $0.0000329 to a rather dismal $0.000013. One might say it’s a classic case of “what goes up must come down”—and down it has gone! 💔

Perhaps the SHIB community has decided to take matters into their own hands, withdrawing their precious coins from exchanges into cold storage. After all, as the wise old crypto hodler says, “Not your keys, not your coins.” A rather clever bunch, wouldn’t you agree? 🧐

And let’s not forget the recent Bybit exchange hack, where over a billion dollars worth of Ethereum was whisked away by nefarious hackers. Naturally, our SHIB enthusiasts have opted for the safety of private cold wallets—because who wants to be the star of a heist movie? 🎬

SHIB Burns Spike 49,552%—A Fiery Performance!

While the SHIB reserve on exchanges has taken a nosedive, another metric has taken center stage—the burn rate! Over the past 24 hours, it has skyrocketed by an astonishing 49,552%! One can only imagine the flames of excitement! 🔥

In this grand spectacle, 13,290,880 SHIB meme coins were unceremoniously shoved into unspendable blockchain wallets, never to be seen again. An anonymous whale even decided to play the role of the generous benefactor, destroying 12,131,978 SHIB in a single transaction. Bravo! 👏

Just the other day, the burn rate was a mere 27,660%, with 503,305,764 SHIB meeting their fiery demise. And let’s not overlook the astonishing 459,294,504 SHIB that vanished in a single transfer. It’s a veritable bonfire of the vanities! 🔥

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2025-03-17 17:45