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SHIB Lead Dev Kusama Puzzles Shiba Inu Community, Here's How

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Sat, 21/10/2023 - 8:50
SHIB Lead Dev Kusama Puzzles Shiba Inu Community, Here's How
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The lead developer of the Shiba Inu coin and ecosystem, known to the community under the pseudonym Shytoshi Kusama, has again puzzled the SHIB community. He has again changed his location status on the X app, this time marking it as China.

Shytoshi Kusama changes his location status again

X app user @kuro_9696_9696 shared a screenshot of Kusama's X profile with the SHIB community via his profile. A wave of comments followed as people began to wonder what Shytoshi Kusama may be up to in China or if he is maybe just having fun with the SHIB army, changing various countries and cities in his X app location field.

Earlier this year, the SHIB community already spotted Kusama changing his location status several times. Once it was Niseko, Japan, in late May. Back then, apparently, he was on holiday, preparing for further hard work on Shibarium: "Relaxing and enjoying like everyone else."

Whopping 18 trillion SHIB moved by whales this week

According to data shared by prominent crypto tracker Whale Alert, four massive transactions shoveling nearly 20 trillion SHIB hit the market this week. Each of them carried a mind-blowing 4.5 trillion Shiba Inu meme coins.

Each of these enormous transfers was worth more than $31 million, therefore together they comprised the equivalent of $124 million in fiat. These transfers were made between anonymous wallets.

On Friday, two of these massive transactions took place, when 4.5 trillion SHIB were first sent to one wallet and then transferred to another from the same receiver's address. Currently, over 623 trillion SHIB are concentrated just in 12 whale addresses, which include those belonging to crypto exchanges. That constitutes 63.48% of the SHIB supply circulating in the market.

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SHIB burns in decline for second consecutive day

In the meantime, the Shiba Inu burn rate has remained in the red for the second consecutive day. Today, this metric shows an overnight plunge of almost 55% with a total of 17,998,335 SHIB meme coins locked up in dead-end "inferno" wallets.

There have been 13 burn transactions up to now, the biggest one carried 6,634,200 SHIB to a dead blockchain address.

On Friday, the decline in the burn rate was almost exactly the same. However, the amount of burned Shiba Inu tokens was much bigger — slightly less than 50,000,000 SHIB by a rough estimate.

SHIB is changing hands at $0.000006978 after a 3.77% rise within the last 24 hours, according to data provided by CoinMarketCap.

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