The Shiba Inu (SHIB) team’s social media expert, known within the community as Lucie, has issued a significant warning to the SHIB army, referencing the wisdom of Albert Einstein. In a tweet, Lucie advised SHIB fans and Shibarium developers to "stay away from negative people. They have a problem to every solution," emphasizing the importance of maintaining a positive mindset within the community.

Recently, Lucie and other SHIB team members have frequently issued warnings to the global Shiba Inu community, primarily to alert them about the increasing number of crypto scams targeting nascent and inexperienced investors within the SHIB army.

SHIB Burn Rate Declines Sharply

Data from the Shibburn analytics platform revealed a sharp drop in the SHIB burn rate over the last 24 hours. Despite this decline of 18.78%, a total of 8,748,598 SHIB coins have been burned, permanently removing them from circulation. This reduction in the burn rate raises concerns about the community's efforts to decrease the circulating supply of Shiba Inu.

SHIB Price Faces Sharp Decline

On Friday, June 8, SHIB, the second-largest meme cryptocurrency by market capitalization, experienced a significant price drop of nearly 8.4%, marked by three consecutive red candles on an hourly chart. This decline mirrored the broader market trend, with Bitcoin (BTC) falling by 3.7%, from over $71,650 to around $69,030. The Bitcoin plunge was likely triggered by disappointing GameStop earnings and a subsequent 39% drop in GME's stock price, coupled with an unfavorable U.S. employment report.

As of now, Bitcoin is trading near the $69,350 level, indicating ongoing market volatility that has affected SHIB's performance as well.

The SHIB team's warnings and market analysis reflect their efforts to guide and protect the community amid these turbulent times, encouraging a cautious and informed approach to crypto investments.