The head of the SHIB development team, Shytoshi Kusama, shared an anime-style GIF on Twitter (X app), adding the hashtag “MOOD.” to it.
The SHIB community interpreted Kusama’s tweet as being related to that with less than a week left before the start of the Blockchain Futurist Conference in Toronto and the anticipated launch of the Layer 2 solution Shibarium, and assumed that he is determined to present SHIB, its ecosystem, and possibly Shibarium as well.
A flurry of replies in support of Shytoshi’s tweet that read, “He’s POWERING UP,” appeared. “We’re prepared,” “Do it, Shy!” and so on.
Shiba Inu meme token has increased by more than 9% over the last day as of the time of this writing, and over the previous week, it has increased by 19.41%. The community anticipates a sharp increase in the price of BONE, LEASH, and SHIB once Shibarium is made available on the mainnet. The ShibaSwap DEX’s native coin, BONE, is utilised for governance there. Additionally, it will serve as the Shibarium gas token.
The SHIB army will also employ LEASH on the Layer 2 blockchain. LEASH, according to Shytoshi Kusama, “governs the protection of the community and offers exclusivity as well.” It gained listings on a number of new cryptocurrency exchanges last week, increasing its usefulness and adoption.
Shibarium trifecta soaring in price
TREAT and the stablecoin SHI are two more tokens for the Shiba Inu ecosystem that are under development but have not yet been released. Shytoshi criticised a Twitter scam account that attempted to trick SHIB followers into believing false TREAT and SHI, as was published over the weekend by U.Today.
SHI and TREAT have not yet been released, according to Kusama, who also added that they should work harder than that.
The price of the full Shibarium trifecta has increased significantly during the past week. SHIB gained around 20% over the weekend, but once whales started locking in their profits, there was a sharp fall.
SHIB burn rate rises 57%
While the price of the well-known meme cryptocurrency Shiba Inu is significantly rising, the same cannot be said about the burn rate at the moment.
Data provided by the Shibburn Explorer shows that over the past 24 hours, SHIB burns have only grown by 56.93%, removing a total of 58,617,783 Shiba Inu coins.
The greatest transaction, which carried slightly more than eight million SHIB to dead wallets, was one of 17 that were made to reach that goal.
