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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 as to 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 of 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 if 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 new large parters 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?”
Multiple times before the SHIB team has mentioned that the higher Shibarium utility is, there more there are partners and various other users, including retail ones, the higher are SHIB burns, 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.
Weekly burns have also demonstrated a rise of more than 56% as 203,001,453 SHIB have gone up in virtual flames.