The lead developer of Shiba Inu, Shytoshi Kusama, recently stirred the community with a sarcastic post on X, formerly known as Twitter, aimed at Shibtoshi, the founder of SquidGrow. The exchange highlighted ongoing tensions in the ecosystem regarding communication and project progress.

The controversy began after Shibtoshi announced a large SHIB token burn. The announcement stated that 1 billion SHIB tokens were burned within an hour, a move aimed at reducing the circulating supply and potentially increasing its value. The announcement caught the attention of SHIB holders, many of whom viewed it as a proactive step towards improving the ecosystem.

However, Kusama's response has been lukewarm. He mocked the idea of large-scale burns coming from exaggerated sources, saying:

"Oh... isn't that so? Is that wallet still frozen in time? Alright, back to work then."

This comment sparked mixed reactions. While some appreciated the humor, others criticized it as dismissive and unhelpful at a time of great concern over the token burn rate.

SHIB Community Calls for Increased Contributions to Burn

Shibtoshi's burn efforts, though warmly received by parts of the community, have sparked debates about leadership roles. There are calls for the Shiba Inu team to enhance their contributions to the burn initiative, with some urging Kusama to follow Shibtoshi's efforts. Critics point to a perceived lack of urgency from the project's leadership, with growing frustration over delays in executing large-scale burns.

Meanwhile, Shibtoshi's increasingly prominent role in the community has not gone unnoticed. His outspoken support for Shiba Inu and decisive actions, such as burning 1 billion SHIB, have made him an influential figure. Some in the SHIB Army even suggested that Kusama should communicate more directly with Shibtoshi instead of avoiding discussions.

However, not everyone agrees. A section of the community questions whether such burn events are enough to address the larger challenges of the ecosystem. Despite the ongoing token burn, critics argue that their scale still fails to meet expectations for significant impact on SHIB's price trajectory.

SHIB Price Soars Despite Low Burn Rate

Interestingly, the price of Shiba Inu has been on a strong upward trend, even as the burn rate has sharply declined. Over the past month, SHIB has risen by 60%, including a 12% increase just last week. This comes as the token burn rate plummeted an astonishing 85% in just 24 hours, with only 62 million SHIB tokens burned during that time.

The clear disconnect between SHIB's price increase and the declining burn rate has captured attention across the cryptocurrency space. Analysts suggest that high market demand and investor interest are driving the strong price momentum of this meme coin.

Currently trading at around $0.00002843, Shiba Inu's bullish trajectory reflects the overall growth of the cryptocurrency market. As SHIB maintains its upward momentum, analysts predict there will be further gains if the current trend continues. A crucial resistance level at $0.000038 is currently being watched, with the potential breakout setting the stage for a price increase towards $0.00005 by the end of 2024.