Ethereum

Kusama

Burn

Bitcoin

Shiba Inu

<ul>
<li><strong>Despite the high numbers of SHIB burn in recent weeks, the Shiba Inu price is not meeting the expectations of the community.</strong></li>
<li><strong>The lead developer of SHIB, Shytoshi Kusama, believes that burns are currently too low to affect the SHIB price.</strong></li>
</ul>
<hr />
<p>The <a href="https://www.ethnews.com/prices/">Shiba Inu price</a> has been lagging behind despite the high numbers of SHIB burn in recent weeks. March 2023 was the strongest month since October 2022, with 6.78 billion SHIB tokens burned in 540 transactions.</p>
<p>However, the SHIB price has not increased proportionately. In response to community frustration, the lead developer of SHIB, Shytoshi Kusama, <a href="https://twitter.com/ShibArmy_4Life/status/1626370507900854272">explained</a> that SHIB is an interesting investment for swing traders and addressed the &#8220;classic&#8221; cycle of interest rotation from Bitcoin to Ethereum to altcoins, which numerous crypto investors are currently waiting for.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;" /><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;" /> BREAKING <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;" /><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Shytoshi Kusama locks the <a href="https://twitter.com/hashtag/Shibarium?src=hash&amp;ref_src=twsrc%5Etfw">#Shibarium</a> Telegram from further messaging until all documents are out! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;" /> <a href="https://twitter.com/search?q=%24Shib&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Shib</a> <a href="https://twitter.com/hashtag/Shiba?src=hash&amp;ref_src=twsrc%5Etfw">#Shiba</a> <a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw">#ShibaInu</a> <a href="https://t.co/OPiG4M05J2">pic.twitter.com/OPiG4M05J2</a></p>
<p>&mdash; 𝐋𝖆𝖉𝖞 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;" /> 𝐂𝖗𝖞𝖕𝖙𝖔 (@ShibArmy_4Life) <a href="https://twitter.com/ShibArmy_4Life/status/1626370507900854272?ref_src=twsrc%5Etfw">February 16, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="state-of-the-crypto-market">State of the Crypto Market</h2>
<p>Kusama first analyzed the state of the crypto market, stating that while Bitcoin has gained a lot of dominance in recent weeks, ETH surged after the <a href="https://www.ethnews.com/shanghai-shines-ethereums-game-changing-upgrade-successful-heres-how-to-retrieve-your-staked-eth/">Shanghai upgrade</a>. Therefore, some traders expect an altcoin season to start soon, which could also benefit the SHIB price.</p>
<p>Kusama believes that burns are currently far too low to affect the SHIB price and calls for more use cases for Shiba Inu, which are burning SHIB in order to increase the price. While SHIB burn numbers always sound very high, they are much less impressive when denominated in USD.</p>
<p><img decoding="async" loading="lazy" class="wp-image-227158 size-full" src="https://bitcoinist.com/wp-content/uploads/2023/04/SHIB-kusama.png" sizes="(max-width: 1428px) 100vw, 1428px" srcset="https://bitcoinist.com/wp-content/uploads/2023/04/SHIB-kusama.png 1428w, https://bitcoinist.com/wp-content/uploads/2023/04/SHIB-kusama-640x345.png 640w, https://bitcoinist.com/wp-content/uploads/2023/04/SHIB-kusama-980x528.png 980w, https://bitcoinist.com/wp-content/uploads/2023/04/SHIB-kusama-768x414.png 768w, https://bitcoinist.com/wp-content/uploads/2023/04/SHIB-kusama-750x404.png 750w, https://bitcoinist.com/wp-content/uploads/2023/04/SHIB-kusama-1140x615.png 1140w" alt="Shiba Inu Kusama" width="1428" height="770" data-pin-no-hover="true" /></p>
<p>For example, the 6.78 billion SHIB burned in March was worth &#8220;only&#8221; $76,200. Compared to the current total circulating supply of 573,935,226,818,778 SHIB, just 0.00118% of all SHIB in circulation were wiped out with all burns in March.</p>
<h2 id="lead-developer-advocates-for-more-shib-use-cases-to-boost-value">Lead Developer Advocates for More SHIB Use Cases to Boost Value</h2>
<p>The SHIB price is not meeting the expectations of the community despite the high numbers of SHIB burn. Kusama <a href="https://www.ethnews.com/shiba-inu-shibarium-nowpayments-unite-fueling-crypto-adoption-layer-2-revolution/">believes</a> that burns are currently too low to affect the SHIB price and calls for more use cases for Shiba Inu, which are burning SHIB in order to increase the price.</p>
<p>The lead developer of SHIB also <a href="https://www.ethnews.com/shiba-inus-metaverse-to-launch-at-this-date-offering-land-plots-for-passive-income/">addressed</a> the state of the crypto market and the &#8220;classic&#8221; cycle of interest rotation from <a href="https://www.ethnews.com/bitcoin-defies-inflation-fears-holding-firm-above-30k-despite-economic-warning-signs/">Bitcoin to Ethereum</a> to altcoins, which could also benefit the SHIB price.</p>
<div class="cryptoboxes" id="mcw-12321" data-realtime="on"><div class="mcw-chart mcw-chart-light" data-font = "inherit" data-chartcoin = "SHI" data-chartcurrency = "USD" data-chartrate = "1.000268" data-charttype = "chart" data-chartview = "day" data-charttheme = "light" data-chartsmooth = "true" data-chartareacolor = "" data-chartbgcolor = ""></div></div>
<p>The post <a rel="nofollow" href="https://www.ethnews.com/shiba-inu-price-stalls-despite-rising-burn-rates-lead-dev-calls-for-this-action-to-target-0001/">Shiba Inu Price Stalls Despite Rising Burn Rates: Lead Dev Calls For This Action to Target $0,001</a> appeared first on <a rel="nofollow" href="https://www.ethnews.com">ETHNews: Bringing you the news of everything blockchain, Ethereum, and the internet.</a>.</p>

Shiba Inu Price Stalls Despite Rising Burn Rates: Lead Dev Calls For This Action to Target $0,001

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