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Shiba Inu About to Ignite 'Serious SHIB Excitement' This Week: Details

Mon, 14/08/2023 - 11:33
Shiba Inu About to Ignite 'Serious SHIB Excitement' This Week: Details
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The official X account of the leading meme coin Shiba Inu has announced that the SHIB community should not expect to have a "quiet week ahead" since the word "quiet" is not on their vocabulary.

"Some serious SHIB excitement" coming this week

The SHIB account promised that its team is "about to ignite some serious Shib excitement." Within just one day, the much-anticipated annual Canadian Blockchain Futurist Conference is to start. It will last for two days – Aug. 15 and 16 – and SHIB will be among its major sponsors. Besides, the leader of Shiba Inu, the pseudonymous Shytoshi Kusama, is to deliver a speech on SHIB, decentralization and the Shibarium Layer 2 network via AI in order to remain anonymous.

Aside from Shytoshi, several major members of the SHIB team will also take part in the conference, along with Marcy Jastrow – the metaverse advisor for Shiba Inu. Jastrow intends to present the SHIB Metaverse to the global crypto community and just might announce the release of a few metaverse hubs too since, earlier this year, their launch was announced to happen before the start of September.


Traders grabbing SHIB ahead of Shibarium launch

During the conference, Shytoshi Kusama and the SHIB team are likely to finally launch the Layer 2 blockchain Shibarium, which until now has been functioning only on the testnet called Puppynet.

Over the past week, the second largest meme coin SHIB demonstrated an astonishing rise of almost 24%, peaking at $0.00001122 on Saturday, Aug. 12. Over the weekend, the coin's market capitalization value also got a boost to surpass the $6 billion level as the SHIB community had been looking forward to the Shibarium launch, and large investors known as whales began to lay their hands on massive amounts of these meme coins.

Hundreds of billions of SHIB burned

As reported earlier, during the period of the last 24 hours, the SHIB army has managed to transact more than 716 million SHIB to dead-end wallets in almost 100 90 transactions. Notably, nearly half of that amount - 342,561,867 SHIB - was burned in a single transfer made from a brand-new wallet that had conducted only six transfers.

Some users within the SHIB army reckon that this wallet could belong to Tangem – the Swiss-based company that produces cold crypto wallets for self-custody, which partnered with Shiba Inu earlier this year to begin making cold SHIB wallets. Last week, Tangem stated that they were prepared to convert 5% of the profits from selling those SHIB wallets into Shiba Inu and burn those tokens. Last week, they stated that they were prepared to burn 3,524 USDT, which is equal to roughly 337,224,880 SHIB.

Along with this massive burn of SHIB that took place in the past day, last week's burns also look quite impressive. According to the Shibburn tracker, within the last seven days, a total of 1,164,755,557 SHIB were transferred to dead-end SHIB addresses.


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