Shiba

Kusama

Token

Shiba Inu

SquidGrow

The Shiba Inu (<a href="https://yellow.com/asset/shib" rel="noopener noreferrer nofollow">SHIB</a>) community is charged up as the lead developer of the meme coin, Shytoshi Kusama, <a href="https://www.crypto-news-flash.com/shiba-inu-community-reacts-to-lead-devs-tease-on-shib-burn/" rel="noopener noreferrer nofollow">publicly teased </a>about Shibtoshi's 1 billion SHIB token burn claim.
Recently, Shytoshi Kusama, the lead developer of Shiba Inu, took a sarcastic dig at SquidGrow founder Shibtoshi’s claim of burning 1 billion SHIB tokens in an hour, depicting the ongoing tensions regarding the project’s progress.
This caused ripples in the Shiba Inu community which is divided about this mocking of the burn rate.
Crypto analysts noted the strong market demand for Shiba Inu as it soared 60% in value this month despite low burn rates. As per the analysts, the market demand is making the meme coin continue its bullish momentum.
Earlier, Shibtoshi revealed that he had burnt 1 billion SHIB tokens in an hour to increase the value of the meme coin by cutting down the circulating supply. Most crypto traders took it as a proactive indication of the Shiba Inu ecosystem improving.
But, the meme coin’s developer wasn't enthusiastic about it as he mocked large-scale burning events from exaggerated sources.
Kusama’s post on social media platform X, said, “Oh… it didn’t? That wallet is still frozen in time? Ok, back to work then.”
The Shiba Inu community is divided over this sarcastic dig. While some have labelled it as “dismissive and unhelpful”, especially in times of concerns about token burns in the crypto world, others have appreciated the humour.
The SHIB token burn claim sparked leadership debate within the community. The meme coin’s team was urged to enhance their contributions towards burn initiatives. Some experts even called for Kusama to match Shibtoshi's claims.
Most critics lambasted the project for the lack of urgency as frustrations grew in the community due to delays in large-scale burns. However, Shibtoshi’s role in the SHIB community has drawn huge support, especially after the 1 billion token burn. Many people from the SHIB army have recommended that the developer Kusama should be directly engaging with Shibtoshi and not avoid him.
Meanwhile, some community members are siding with Kusama as they think burn activity isn’t enough to address ecosystem challenges as the token reductions haven’t had a large-scale impact on the Shiba Inu price movement.
Amidst this, the meme coin has soared significantly even in the face of low burn rates. In the last month, Shiba Inu has surged 60% including a 12% spike in the last 7 days. This happened while the burn rate declined to 85% in the last 24 hours leading up to December 3 with only 62 million tokens being burned.
This disconnection between the meme coin’s price and the low burn rate has triggered the curiosity of the crypto world as analysts believe increasing investor interest and market demand is making Shiba Inu rally.
If SHIB sustains the current price momentum then it will gain further as it focuses on the $0.000038 resistance level. Analysts are predicting that the meme coin is set for a breakthrough which will make it rally to $0.00005 by 2024 end.
As of December 3 evening, Shiba Inu has gone down 5.59% in the last 24 hours to trade at $0.00002786 with the trading volume decreasing by 38% to reach $2.95 billion and the market cap stands at $16.42 billion.

Shiba Inu Developer Teases 1B Token Burn, Receives Mixed Community Reaction

Yellow News

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