October arrived like a wild beast, ripping $19 billion from leveraged crypto bets, leaving the market gasping for air. Not the Uptober that we wanted.
And SHIB, the mischievous Shiba Inu token, caught in the maelstrom. Now, the dust has settled, volatility has taken a nap, and the crypto playground resembles a quiet swamp rather than a rollercoaster. But we have to say, this calm carries an uneasy vibe.
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Fear
SHIB’s price is stuck somewhere between “meh” and “hmm”, experts say it’s down 13.6% this October, which is funny because October used to be the crypto party month.
The token tried a modest comeback from a low of about $0.00000961 on October 22, tapping a peak near $0.00001034 two days later, then spent its time wandering between $0.00001009 and $0.00001026 as if stuck in a hamster wheel.
Market sentiment? Still splashing around in the fear zone, according to the Crypto Fear and Greed Index, so don’t expect fireworks just yet.
Support is what makes a community real
Behind the scenes, SHIB’s burn rate, aka how many tokens get incinerated to shrink supply, took a dip. In 24 hours, only around 102,742 SHIB tokens were burned, a 97% drop.
Chump change, compared to the total supply. The weekly token burn also took an 89% hit, a signal that the token’s fiery vanishing act has dimmed for now. Yet history whispers October has been SHIB’s month to dazzle before, so all bets aren’t off.
Amid the jitters, a calm, sage-like voice from the Shiba Inu team member Lucie reached out with a soothing message to the tribe.
“Resistance is the weight that builds your strength. Do not fight it, shape it. Power is not in pushing harder but in standing calm when the storm tests you. Create art, memes, videos, whatever speaks to your asset. Support is what makes a community real.”
Okay, that’s poetic, right? The kind of pep talk that makes hodlers nod and double-check their meme stash.
XThe danger is real
There’s a buzz in the social media, as the Shiba Inu watchdog, Susbarium, threw up a red flag, warning the community about scammers deploying fake websites that perfectly mimic the official ShibaSwap.
They say these malicious clones are designed to steal wallets dry, basically a wolf in Shiba’s cute clothing.
The alert screamed, never connect your wallet to any suspicious sites disguised as Shiba Inu’s official platforms, or your SHIB could walk out the door without a farewell nod.
So, for now, the Shiba Inu story meanders through a cautious lull, with a community told to brace, meme on, and stay sharp for the scammers lurking like techy highway robbers.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
