Shiba Inu lead developer Shaitoshi Kusama recently shed light on SHIB’s crypto venture that will further advance in the cryptocurrency space. In a series of posts, Kusama highlighted how the SHIB token highlights the significant efforts by the token community to promote Shiba Inu tokenomics.
Moreover, once this announcement surfaced in the crypto market, the price of Shiba Inu immediately skyrocketed, increasing optimism about the token.
Along with the rise in Shiba Inu’s price, the burn rate of SHIB has also increased significantly, causing speculation among crypto market enthusiasts.
Shaitoshi Kusama announces upcoming SHIB Burn
In a series of posts on X, Shatoshi Kusama revealed how the SHIB token is revolutionizing within the broader crypto market. According to Kusama’s statement, the Shiba crypto community is reportedly preparing for a huge burn record.
Cryptocurrency enthusiasts seem to be paying widespread attention to this token, with the SHIB community setting its sights on burning billions of tokens in the near future.
The statement also emphasized that the Shiba Inu is moving from meme and folklore to a global standard around cryptocurrencies and blockchain.
Additionally, the statement further spotlighted the upcoming partnership of SHIB Cryptocurrency. This ongoing partnership is all about building support for the token and aims to solidify its position as a global force.
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Shiba Inu prices are rising
The Shiba Inu price has increased by 3.32% in the past 24 hours at the time of writing, valuing $0.00001015. However, the weekly trajectory of the token showed a 1.24% decline with a monthly increase of 13.85%.
Shiba Inu market charts showed a rapid rise shortly after Yayoi Kusama revealed an ongoing and notable burn. Furthermore, while writing, SHIB burn rate 1.18 million coins were burned in the last 24 hours, a significant increase of 10.07%.
The current rally witnessed by the token came primarily as a result of the aforementioned announcement, which was followed by an increase in burn rate.
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