Shytoshi Kusama’s Dragon Ball Meme Sparks Shiba Inu 29% Surge and Burn Rate Explosion

Shiba Inu’s 29% Leap: SHI Stablecoin Tease and Dragon Ball Meme Ignite Market”
Shiba Inu Rockets 29%: SHI Stablecoin Hype and Dragon Ball Meme Fuel Surge

Shiba Inu and Bone ShibaSwap have experienced substantial price surges driven by recent developments within the Shiba Inu ecosystem.

Shytoshi Kusama, the enigmatic lead developer of Shiba Inu, has celebrated the rally. He shared a GIF on X (formerly Twitter) featuring Vegeta from Dragon Ball, symbolizing his satisfaction with the market’s performance.

On Thursday, SHIB, the largest cryptocurrency in the Shiba Inu ecosystem by market capitalization, soared nearly 29% within 24 hours, reaching levels not seen since mid-June.

The cryptocurrency has also seen a dramatic increase in its burn rate, soaring by an astonishing 33,818%.

The trading volume for SHIB more than tripled, hitting $1.2 billion. Similarly, BONE, an essential token used in the decentralized exchange ShibaSwap and the Layer-2 blockchain Shibarium, saw a 15% increase in value.

Catalysts for the Rally:

The surge in SHIB and BONE prices followed a teaser from Shiba Inu’s marketing lead, Lucie, about the ecosystem’s upcoming stablecoin, SHI.

See Also:  Exploring the Benefits and Prospects of CBDCs in 2023

First introduced by the project’s founder, Ryoshi, in 2021, SHI is considered a crucial development to enhance Shibarium’s features. Lucie’s announcement has generated significant excitement and optimism within the Shiba Inu community.

 

William Ross
About William Ross 233 Articles
I am a cryptocurrency enthusiast and writer with over five years of experience in the industry. I have been following the development and innovation of Bitcoin and Ethereum since their inception, and I enjoy sharing my insights and analysis with readers. I have written for various reputable platforms, such as CoinDesk, Cointelegraph, and Decrypt, covering topics such as market trends, regulation, security, and adoption. I believe that cryptocurrency is the future of finance and technology, and I am passionate about educating and informing people about its benefits and challenges.

Be the first to comment

Leave a Reply

Your email address will not be published.