Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Mysterious SHIB lead developer Shytoshi Kusama has published some tweets after a week’s pause. These posts seem to carry a bullish message to the SHIB army.
In the meantime, the Shiba Inu leader is approaching a major milestone of one million followers on the X platform (formerly known as Twitter). Kusama has not been treating the community to his tweets often of late, posting them with roughly a week’s pause in between.
Shytoshi Kusama's tweets bullish mood as SHIB soars 19.3%
Shytoshi Kusama broke his weeklong silence on the X app by issuing a SHIB-themed call to the Shiba Inu community – “WOOF!” It was followed by an anime-style animated GIF with a bullish, fighting mood in response to a recent tweet by early Bitcoin millionaire Da Vinci, who published an engaging and bullish post about Shiba Inu.
Da Vinci tweeted that the current SHIB run “is looking hot.” This happened while the second largest meme cryptocurrency by market capitalization size, Shiba Inu, printed a jaw-dropping price increase of 19.3%, reaching the $0.00002946 price tag. By now, however, the surge has changed to a decline, with the meme coin dropping by 3.38 and changing hands at $0.00002844 at the time of this writing.
This sudden bullish move has pushed Shiba Inu into the top 10 coins list as it surpassed Cardano’s ADA by market cap value. Now, SHIB occupies 10th place on this list on the CoinMarketCap website.
This tremendous price surge has coincided with recently begun efforts by the SHIB team to conquer the TikTok audience as it posted a viral SHIB video on its official page, promising that SHIB is “not a sprint but a marathon.”
Yuri MolchanSHIB burn rate plummets
Despite the positive news about the SHIB price, the current state of things with one of the key SHIB metrics – the burn rate – does not look good. According to the Shibburn data platform, within the last 24 hours, this metric has demonstrated a decline of more than 44%, with merely 1,695,852 SHIB meme coins transferred out of circulation.
This amount of SHIB has been transferred to unspendable blockchain wallets since yesterday morning in nine transactions, where the two biggest ones carried 469,507 and 359,001 Shiba Inu.
Alex Dovbnya
Valeria Blokhina
