Shytoshi Kusama, the pseudonymous lead of the Shiba Inu team, has been debating with SHIB enthusiasts on X and revealing interesting details about his work schedule. He also poured cold water on the idea of some SHIB enthusiasts about how the SHIB burn mechanism works in reality.
In the meantime, the second biggest meme cryptocurrency, Shiba Inu, has staged an impressive price increase of slightly more than 8% today, which has been followed by a red candle.
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Kusama pours cold water on unrealistic SHIB burn idea
The enigmatic SHIB lead published a post, which stated “Moooood,” with a link to a song on the Spotify platform. That post triggered a comment from a SHIB enthusiast, who began to ask Shytoshi questions about the Bone Dao and listings on the Binance exchange. He also asked whether, when the SHIB team accumulates BONE tokens, adding them to the Treasury, it means “there is more money in the Treasury and much larger SHIB burns.”
Shytoshi hinted that this is not the way SHIB burns work, since SHIB is a decentralized token, and again hinted that his efforts to gain large new partners for Shibarium are targeted at accelerating burns, aside from other things that will boost Shibarium and the Shiba Inu ecosystem in general.
Kusama said: “hat simply is not how a fully decentralized token works ser,” adding: “Now don't you see why I am HUSTLING to get large partners and not anything?”
That simply is not how a fully decentralized token works ser. Though as more funds flow into the foundation you will be correct. Now don't you see why I am HUSTLING to get large partners and not anything but that (since the team has built nearly all the tech)?
— Shytoshi Kusama™ (@ShytoshiKusama) November 25, 2024
Multiple times before, the SHIB team has mentioned that the higher Shibarium utility is, the more partners and various other users there are, including retail ones and the higher the SHIB burns are since they come from the volume of transactions on Shibarium.
In the course of this discussion, Shytoshi Kusama revealed his astounding work schedule as he tweeted: “I work 20-hour days for weeks,” adding that his job includes X posting and talking to the community, answering their questions and clarifying things for them.
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SHIB burns go up
Data published by the Shibburn tracker shows that in the last 24 hours, the SHIB burn rate has increased by almost 135%, with a total of 4,851,105 SHIB coins transferred to unspendable blockchain addresses.
HOURLY SHIB UPDATE$SHIB Price: $0.00002552 (1hr 0.08% ▲ | 24hr -4.17% ▼ )Market Cap: $15,071,322,733 (-3.93% ▼)Total Supply: 589,261,984,223,092TOKENS BURNTPast 24Hrs: 4,851,105 (134.49% ▲)Past 7 Days: 203,001,453 (56.03% ▲)
— Shibburn (@shibburn) November 25, 2024
Weekly burns have also demonstrated a rise of more than 56% as 203,001,453 SHIB have gone up in virtual flames.
