The Shiba Inu team seems to be hard at work over the last few months and the latest development has been a special announcement teased by lead developer Shytoshi Kusama. Kusama first mentioned the announcement last week where he said that it would be ‘game-changing’ and Shiba Inu marketing lead Lucie said it would break the internet. As the community tentatively anticipates this announcement, Kusama has shared more insight into the partnership and why they’re doing it.
Promoting The Worldwide Adoption Of Shiba Inu
In a December 16 thread post on X (formerly Twitter), developer Kusama said that he was looking forward to the announcement which is supposed to happen this week. However, the post didn’t only focus on the announcement as Kusama also alluded to the SHIB burns that the team is carrying out.
1/ As Billions of Shib prepare for roasting (yes, it is in progress), and Shibarium transactions are worthy of toasting
… I continue to look forward to next week’s announcement. Let’s talk about it (continued)
— Shytoshi Kusama
… I continue to look forward to next week’s announcement. Let’s talk about it (continued)
(@ShytoshiKusama) The lead developer states that as these SHIB burns are going on, there will only be impactful burns when there is global adoption of SHIB. Kusama explains that while there has been adoption of Shiba Inu worldwide over the last year, it has not been enough, and this is why the team has inked their next partnership.
Kusama believes that the only way to promote worldwide adoption of the token and the blockchain is to usher in a new era of crypto, blockchain, and Web3. All of this, the developer says, needs to be done through “a web of decentralized leaders, early adopters, and those tired of the status quo.”
Speaking further on the partnership, Kusama states that the purpose of it is to provide “a finish line to this ground-breaking experiment known as Shiba Inu.” He further added, “It potentially increases our state’s territory and will solidify the #SHIBARMY as the greatest community in the world, but only with your help.”
SHIB Burns Ramp-Up
Keeping to its promise to burn large volumes of SHIB, the Shiba Inu team has moved forward with its mass burning initiative. On Sunday, the team completed its second large burn in a month. It burned over 8.6 billion SHIB worth $85,597 at the time of the burn.
Second burn just occurred.
8,615,169,427.76 SHIB ($89,597.76) pic.twitter.com/mVw3uxrCoQ
— 𝐋𝐔𝐂𝐈𝐄 |
Shib.ioThe burn caused the SHIB burn rate to rise drastically, leading to a massive 779,000% spike in the burn rate in a single day. This burn follows the same pattern as the first large burn which took place on December 5 where a little over 8.2 billion tokens were burned.
There are still a lot of large burns expected to come given that Kusama has previously alluded to more than $1.2 million worth of SHIB being burned. This figure is from the total BONE value accumulated from fees from the Shibarium network. As these burns unfold, it is expected that the enthusiasm in the community would rise which could lead to a rise in the meme coin’s price.