- Shibburn sees over seven million SHIB tokens set ablaze in the last 24 hours.
- Shytoshi Kusama drops a clue on Shiba Inu’s product coming in early July.
- SHIB dropped 18% weekly, with a 4.20% deficit in the last 24 hours.
Shytoshi Kusama, the mysterious leader of the SHIB Army, dropped another hint about a new addition to the Shiba Inu Ecosystem. The early June surprise is related to Shibarium but might contain a real-life device, as Shy declared that “something physical is coming” in the latest tweet.
This comes just two days after Kusama initially emerged on Discord to discuss the product. LucieSHIB of the SHIB Marketing team added a link to an education article on decentralized wallets, resulting in many SHIB Army members guessing it could be a physical wallet or a real-life studio.
Shy’s Message Sparks Shibarium Speculation
Shytoshi’s product tease spared a debate on Crypto Twitter; several members of the SHIB Army believe it has to do with Shibarium’s mainnet. Indeed, Shibarium Beta has been a smash hit in the crypto community, with over 21 million transactions made so far.
Shibarium’s ‘Puppynet’ has an average block time of five seconds, confirming the testing phase is going smoothly, as 16.9 million wallets were created in two months to test the network. The vast community of Shiba Inu is now waiting for the mainnet launch, which is slated for Q3 of 2023.
Shibburn Blazes Up 945% After Shytoshi’s Message
The eight-second video clip from Shy definitely sparked speculation. Still, it most importantly added extra motivation for the SHIB Army to send canine tokens to the bottomless pit. With 7,825,621 $SHIB tokens set ablaze in four transactions, it’s still nowhere near the yearly record of 6.3 billion coins set aflame a month ago.
On top of that, the live on-chain signals show no probability of bullish divergence yet, as all four on-chain signals are heavily on the bearish side, according to the blockchain data analytics platform IntoTheBlock. As the SEC crypto crackdown’s aftershocks continue to intimidate the market, Shiba Inu’s attempts at eating a zero won’t be a cakewalk.
On the Flipside
- The accelerated burning didn’t instantly affect Shiba Inu’s market price.
- At press time, SHIB trades at $0.00000657, with a 4.6% decline in 24 hours.
Why This Matters
Shiba Inu’s Layer-2 project is set to boost the memecoin’s utility and provide a decentralized space for the active community to grow further.
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Shiba Inu coin continues its retail push. Lately, Shiba Inu declared the opening of two Welly fast food restaurants in Italy.
The new project of Shiba Inu is called Shibacals. This is a physical studio for Shibarium, which can print out any Shibarium related NFT into physical merchandise.
According to counts by various SHIB Army members, trillions of SHIB tokens have to be set ablaze on the daily for Shiba Inu’s price to reach $1.
The lead developer of Shiba Inu is Shytoshi Kusama. Leading Shiba Inu’s developer team, Shytoshi Kusama only goes by his pseudonym, even though he had plans to dox himself last year.