Shytoshi Kusama Triggers SHIB Army With 1 Billion USD Wallet SHIB Burn Tweet

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As an analyst with years of experience in the cryptocurrency market and a keen eye for detail, I find myself intrigued by the recent events unfolding within the Shiba Inu community. The enigmatic figurehead, Shytoshi Kusama, has once again stirred up a whirlwind of reactions with his seemingly sarcastic tweet about SHIB burns.

Shytoshi Kusama, the mysterious head of the Shiba Inu group, has sparked a range of responses within the SHIB community through a tweet that appears to be tongue-in-cheek regarding SHIB burn events.

Apart from that, he’s shared a tweet about an imminent upgrade to the auto-destruction mechanism for SHIB, which the Shiba Inu group is set to deploy shortly.

“Burn from billion dollar wallet”

The pseudonymous lead developer shared his excitement about “a burn came from the billion dollar wallet, pre-announced.” But then he hinted that there was actually no burn and “that wallet is still frozen in time.” “Ok, back to work then,” he said, signing off.

It’s great news that a loss from the billion-dollar fund was teased earlier, but it turns out there wasn’t one after all. So, I guess I’ll get back to my tasks.

— Shytoshi Kusama™ (@ShytoshiKusama) November 30, 2024

In response, the Shiba Inu community exhibited a variety of reactions, with some sharing humorous GIFs indicating intense laughter, while others started to critique Kusama and shared the initial tweet that Shytoshi had alluded to.

A tweet was posted by @Shibtoshi_SG, the creator of SquidGrow’s meme coin, who appears to be asserting his influence over SHIB and apparently challenging Kusama’s control on X. The CEO made a remark about the latest 61 million SHIB burn event, stating that he is aiming to increase it to a billion coins.

Many also sent critiques at Shytoshi Kusama for lack of progress with SHIB burns and Shiba Inu development in general.

SHIB devs burn 300 million SHIB monthly: Major SHIB developer

Kal Dhairya, one of the leading pseudonymous developers of SHIB and Shytoshi Kusama’s trusted associate, recently shared insights on the ongoing mechanism for Shiba Inu token burns via a tweet.

As a researcher delving into the fascinating world of cryptocurrencies, I recently contributed to a discussion on the X app, under Kusama’s latest post. In my comment, I highlighted that the “semi/auto” burns have been effectively operating for several months now, with approximately 300 million SHIB being removed from circulation each month. Yesterday, it was mentioned that over 80 million tokens were burned, a sum derived from Shibarium gas fees paid in BONE.

Prior to disseminating unverified information, perhaps take some time for thorough investigation instead. The self-executing or automated burns have been active for several months now, incinerating over 300 million SHIB tokens—in point of fact, I just incinerated 80 million SHIB a short while ago and appreciated the visually appealing animation that followed. Shortly, the burn process will undergo maintenance to…

— Kaal (@kaaldhairya) November 29, 2024

Initially, the developer cautioned that the burn system was about to undergo maintenance for the purpose of implementing a more efficient and cost-effective alternative. Originally, he mentioned that the enhancements would occur within Shibarium, but later clarified that SHIB burns will continue on the Ethereum network in the short term. However, they aim to optimize this process at a later stage.

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2024-11-30 14:52