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Lead SHIB Dev Will No Longer Follow Shibarium Projects, SHIB Burn Rate up 840%, FLOKI Gets Listed on India’s Biggest Exchange: Crypto News Digest by U.Today

Tue, 03/07/2023 - 15:45
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Valeria Blokhina
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Lead SHIB Dev Will No Longer Follow Shibarium Projects, SHIB Burn Rate up 840%, FLOKI Gets Listed on India’s Biggest Exchange: Crypto News Digest by U.Today
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Here are the top four news stories over the past day presented to you by U.Today.

Lead SHIB dev will no longer follow Shibarium projects, but here's good news

According to a recent tweet by lead Shiba Inu developer Shytoshi Kusama, he is no longer going to follow any other Shibarium projects. He explained his decision by saying that the Layer 2 solution is becoming more and more falsely used to promote these projects. He added that he believes in the “DYOR” (do your own research) principle and urged the SHIB community not to follow anything they hear or read blindly. For instance, if Kusama says that he despises some project, he expects his followers to check this project out and form their own opinion of it. “We always DOOR (do our own research),” the lead dev concluded, setting an example for the community. In the next tweet, Kusama shared his excitement about thousands of projects sending their submissions to the Shibarium intake form. The latter was introduced in the developer’s recent post on the ShibaSwap blog.

Shiba Inu (SHIB) burn rate up 840%, here's what this means for price

Yesterday, Shiba Inu appeared among the top losers: according to CoinMarketCap data, its price slumped by 1.26% to $0.00001106, and by more than 13% in the week-to-date period. However, SHIB’s burn rate demonstrated a 840.49% spike, as reported by the Shibburn analytics platform. The inversive trending of a burn rate and price movement is not an uncommon thing to see on the market; however, what is common is what the trend can usher in in the short term. A growing burn rate is a sign that more SHIB transactions are taking place on the network. Growing transactions indicate that more SHIB is being purchased, and this suggests that if this trend continues, it can change the direction of the price.

Floki (FLOKI) gets listed on India's biggest exchange: details

To the great delight of all FLOKI holders, the Viking-themed token has scored another major listing. According to the official Twitter handle of Floki Inu, the asset was added by India's biggest and most recognized exchange, WazirX. The exchange enabled FLOKI deposits yesterday, and today the token will be listed. Per Floki Inu’s team, this listing is of significant importance for the project as it plays a great role in FLOKI adoption and strategically positions Floki for growth in India, one of the world's largest countries. As previously reported by U.Today, Floki Inu established a partnership with a top Indian cricket team the India Maharajas. This partnership will introduce the Floki brand to over 700 million cricket fans across the globe.

PAW on Binance soon? Community left guessing after CZ's recent tweet

The PAW community, a group of enthusiasts supporting recently emerged meme token PAW, has been abuzz due to two Binance-related tweets. The first was posted by the exchange’s official Twitter account, showing a dog wearing a hat with a Binance logo. The tweet reads: "Added a Binance hat to his paw-tfolio." The second post was made by Binance chief Changpeng Zhao (or CZ), in which he wrote “Remember 4.” The community spotted some hidden messages in these two tweets: “paw-tfolio” was interpreted as a reference to the token’s name, and CZ’s tweet as a sign that Binance’s head is starting a mission to help PAW lose four zeros. All of this made the community suggest that the exchange might list PAW in the near future.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.