This Shiba Saga Burns Bright but Not Hot Enough, Eh? 🐕🔥

Gather ’round, dear reader, for a tale of crypto caprice! According to the ever-reliable bunch at Shibburn — which, if I may say so, sounds more like a clandestine society of burn enthusiasts than a mere tracker — our beloved second-tier meme coin, SHIB, has decided to take a little nap… a rather disappointing one, mind you. Over the past day, its burn rate has plummeted more than a poorly aimed boomerang, slipping into the red zone faster than a gifted loafer on a waxed floor. Naturally, the community’s enthusiasm is burning brighter than ever, but the coins, sadly, are not. 🤷‍♂️

Meanwhile, the wider market, that rascal, is trying to put on its Sunday best. Bitcoin—our old friend—has managed a valiant comeback, bouncing back a shiny 4.56%, after taking a bit of a tumble last Thursday, like a clumsy hatter falling off his pogo stick.

SHIB burns in red despite market going green

According to our trusty Shibburn, the total of burned SHIB has staggered to a modest 4,591,026 coins — a sum that would make even a miser blush. And they’ve done their bit with ten transactions—though most of these were tiny, shriveling away like last year’s confetti. The granddaddy of burns, however, was a whopper: nearly four million SHIB, transported off into some blockchain Bermuda Triangle, where coins go to disappear forever, as might a misplaced sock in a Victorian laundry.

Bitcoin logs in recovery

While the Shiba’s doing its best impression of a slumbering sloth, Bitcoin has been pulling itself up by its bootstraps, rising a respectable 1.8% in the last twenty-four hours. At the time of writing, it’s tiptoeing just above the $105,000 mark—proof that even in the world of crypto, resurrection isn’t solely reserved for Lazarus.

As for the rest of the band of cryptocurrencies, they are riding the green wave, probably whistling a jaunty tune while trying not to think about the volatility that makes stockbrokers look as nervous as cats in a dog show.

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2025-06-07 12:56