Like bitcoin and its founder Satoshi Nakamoto, several founders of crypto projects maintain their anonymity and remain unidentified.
Sometimes anonymity surrounds not only the mind of the project, but the developer team as well. This is the case with the development team of Shiba Inu (SHIB), the 14th cryptocurrency by market capitalization, according to Coingecko.
The Shiba Inu sought more utility by expanding its influence with a metaverse project, stablecoin, and more. Members of this community question the developers of the project, especially since they are active on Twitter, unlike Satoshi Nakamoto.
Shiba Inu: wild theories
The extravagant theories mainly point the finger at Elon Musk. Musk is a bitcoin proponent and whose comments on DOGE can skyrocket the price of the other popular memecoin in a matter of hours. Some rumors claim that Elon Musk is the main developer of Shiba Inu Shytoshi Kusama.
Among the most influential personalities of the crypto sphere who would be behind SHIB, Elon Musk and Vitalik Buterin, the founder of Ethereum, have returned to the fore several times. But Shytoshi Kusama’s Twitter account quickly disproved the claims.
– Ajdawg23 (@ ajdawg23) July 18, 2022
The burns by Shiba Inu promise to step up
Despite the speculations about Shytoshi Kusama, it can be seen that the token is still popular. It is often cited as a primary investment alternative in addition to Bitcoin and Ethereum, the “classic” tokens among holders.
Last week, the token gained nearly 14% with a price tag of $ 0.00001225 per token.
Over a billion SHIB tokens have been burned in the past seven days. Shytoshi Kusama reiterated the community’s role in promoting pro-cryptocurrency development.
Indeed, according to the developer, massive burns will require community effort.
Massive burns will require real community effort and we are working on many levels. It will take some time and I hope the timing works perfectly!
—Shytoshi Kusama ™ (@ShytoshiKusama) July 18, 2022
According to data shared and updated daily by Shibburn’s Twitter account, more than 410,373,764,750,087 tokens have already been withdrawn from the initial offering. That is, almost half of the maximum amount of tokens.
In the last 24 hours a total of 76,275,825 were recorded $ SHIB tokens burned and 16 transactions. Visit https://t.co/t0eRMnyZel to view the grand total of #SHIB tokens burned, supply in circulation and more. #shibarmy
—Shibburn (@shibburn) July 18, 2022
Over a billion tokens have been burned in the last week, for a total of 104 transactions.
—Shibburn (@shibburn) July 17, 2022
These burns regular customers promise to gradually influence the price in the future. But there is no guarantee that the price will reach $ 1 or even 10 cents.
The Shiba Inu remains popular with Ethereum whales
Again, the most used smart contract among Ethereum’s top 5,000 whales is Shiba Inu, according to WhaleStats statistics.
Check out the top 100 whales here: https://t.co/kOhHps8XBB
– WhaleStats (free cryptocurrency data) (@WhaleStats) July 18, 2022
Among the 100 largest Ethereum addresses, again, SHIB appears at the top of the chart and remains in the top positions week after week.
There are two main reasons driving these Ethereum whale purchases. The token can be a means of payment. But also price appreciation: SHIB removed several zeros from its price in the fall of 2021.
SHIB is always looking to diversify and further develop its project. The next few months look interesting as the development team tackles the flagship project: SHIB, The Metaverse.
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