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The leader of the SHIB developer team known under the pseudonym Shytoshi Kusama has taken to Twitter (X app) to share an anime-style GIF, signing it with "MOOD."
With less than a week remaining before the start of the Blockchain Futurist Conference in Toronto and the expected launch of the Layer 2 solution Shibarium, the SHIB community interpreted Kusama's tweet as being related to that and assumed that he is determined to present SHIB, its ecosystem and perhaps Shibarium as well.
A wave of supporting comments emerged, written with the same spirit as the tweet of Shytoshi: "He's POWERING UP," "We are ready!" "Do it, Shy!" and so on.
We are ready!!! ππ₯
β πππππ | Summer of Shibarium (@LucieSHIB) August 8, 2023
We dressed for the occasion πβ¨ #SummerOfShibarium pic.twitter.com/3vye1C7Biz
At the time of this writing, Shiba Inu meme token is demonstrating a rise of more than 9% within the last 24 hours, and it has jumped by 19.41% over the past week too. Once Shibarium is released on mainnet, the community expects the price not only of SHIB, but also of other Shibarium tokens β BONE, LEASH β to skyrocket. BONE is the native token of the ShibaSwap DEX and is used for governance there. Besides, it will perform the function of the gas token on Shibarium.
LEASH will also be used on the Layer 2 blockchain by the SHIB army. Per Shytoshi Kusama's explanation, LEASH "governs the protection of the community and offers exclusivity as well." Last week, it secured listings on several new crypto exchanges, expanding its utility and adoption.
Shibarium trifecta soaring in price
There are also other tokens for the Shiba Inu ecosystem in the works β TREAT and stablecoin SHI β and they have not been launched yet. As reported by U.Today over the weekend, Shytoshi slammed a Twitter scam account that tried to lure SHIB users into fake TREAT and SHI.
Kusama wrote that they should try harder than that and stated that SHI and TREAT have not been launched yet.
Over the past week, the entire Shibarium trifecta has been seeing massive price jumps. Over the weekend, SHIB soared by approximately 20%; however, a big decline followed after whales began locking in their profits.
SHIB burn rate rises 57%
While the price of the popular meme cryptocurrency Shiba Inu is showing a substantial rise, this can hardly be said about its current burn rate.
According to figures shared by the Shibburn explorer, over the span of the last 24 hours, SHIB burns have increased only by 56.93%, with 58,617,783 Shiba Inu coins removed in total.
That result was achieved in 17 transactions, with the biggest ones carrying slightly more than eight million SHIB to dead wallets.
Godfrey Benjamin
Gamza Khanzadaev
