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Shiba Inu lead known under the pseudonym Shytoshi Kusama has sent a message to the SHIB community warning them to beware of scams to do with SHIB meme coin and its ecosystem.
From time to time, Kusama and SHIB marketing expert Lucie emerge on X/Twitter with similar warnings, as the crypto space offers plenty of opportunities not only for investors but also for scammers and con artists.
This time, Shytoshi Kusama warned the community against falling for scams to do with KNINE token, launched by the recently announced Shibarium partner in liquid staking, K9 Finance DAO.
Kusama also spread the word about a closer integration between the SHIB team and the team of the aforementioned K9 Finance. Shytoshi Kusama and Shiba Inu lead developer Kaal Dhairya have been appointed K9’s official advisors. K9’s tweet hints that this appointment is related to the aforementioned launch of the KNINE token on layer-2 solution Shibarium.
Shibarium team teases large SHIB burns coming
The aforementioned SHIB team member, Lucie, has tweeted that by now the SHIB team has set aside a massive 40 ETH from transaction fees for making SHIB burns. This is the equivalent of slightly more than $3,390 and is worth a whopping 4,690,279,616 Shiba Inu meme coins.
The team started SHIB burns at the end of November and burned chunks that contained billions of SHIB from then until February. Thus, they destroyed approximately 36 billion Shiba Inu by transferring them to unspendable wallets.
In January, the SHIB team started testing an automated mode for burning Shiba Inu. Lucie did not name any particular date when the burn would take place, but she just recommended that the SHIB army watch out for further announcements.
Earlier this week, Lucie addressed the SHIB community on their frequent comments about the SHIB team allegedly doing nothing to increase burns.
In response to those comments, Lucie cited a message by mysterious SHIB founder Ryoshi, who disappeared from social media radar in 2022. Ryoshi advised those who are not happy with slow burns to start burning SHIB themselves.
So far, according to Shibburn, within the last 24 hours, the SHIB community has transferred a total of 48,209,535 SHIB meme coins out of the circulating supply, with 42,466,919 SHIB being the largest chunk burned so far.
Tomiwabold Olajide
Godfrey Benjamin
