Shiba Inu Lead Dev Hints at Price Catalyst Amid User’s Frustration

The lead developer of the popular meme coin Shiba Inu, Shytoshi Kusama, had playful but optimistic responses to community frustration over recent price stagnation.

Posting on Twitter, Shytoshi Kusama joked that the SHIB price might move more if griping commenters “grip their talismans harder.” But he added that it takes real work to drive gains. The response was to a Twitter user’s comment to Kusama’s tweet on recent events. The user mentioned that Shiba Inu hasn’t moved an inch.

It might move more if you grip your talisman harder.

I’m kidding, of course. It takes true work, and those who Bark the loudest aren’t the ones working.

— Shytoshi Kusama™ (@ShytoshiKusama) October 8, 2023

Also read: Ethereum Foundation Sold 1,700 ETH for $2.74 Million USDC

Kusama also teased something major is brewing on messaging app Telegram without offering specifics. His coy hints follow a meeting with artificial intelligence firm Bad Idea regarding secret and public AI initiatives for Shiba Inu. While scarce on details, Kusama’s comments suggest developments are underway that could catalyze SHIB in the near future.

But some community members are impatient after months of range-bound prices. Kusama maintains gains that require continued effort and innovation.

Shiba Inu burn rate plunges

Recent data from Shibburn indicates a notable decrease of -40% in the burn rate of Shiba Inu over the past 24 hours. The data reveals that during this period, only 15.4 million SHIBs were transferred to inactive wallets. The burn rate of Shiba Inu has shown a consistent decline in recent weeks. However, the launch of Shibarium hasn’t proven to be very effective in ramping up the burn process.

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