Shytoshi Kusama backs SHIB’s price rise in the future

Shytoshi Kusama had earlier pointed out that the price of SHIB has not moved an inch in the last couple of days. They further added that it takes true work to make the price rise. This is likely to be a reference to delivering tangible results and relying less on the popularity that has built on the image of meme tokens. However, the lead developer has now come forward to say that the price may move up.

This statement comes at a time when Shytoshi Kusama has reportedly been linked to the Bad Idea AI team. This partnership aims to kickstart the AI initiatives at Shiba Inu. The initiative is specifically for Shibarium, revolving around artificial intelligence and cryptocurrency. Kusama had actually teased about this association on Telegram by saying that something was brewing. Partnership details are restricted and expected to be made public later.

Meanwhile, the community has been warned not to engage with a Telegram message that comes from the account of Ragnar, a SHIB team member. The account has been reportedly hacked, and the scammer is using this opportunity to roll out fake BONE airdrops.

Ragnar was last seen regaining account control by changing the device and password. Nevertheless, it is better to take all due care before engaging with any content or message that comes from the source.

Shytoshi Kusama’s statement has done little to nothing for the token. It is still rallying at $0.000006949. This is a 3.18% slip in the last 24 hours. Go back 7 days, and the fall is steeper with 4.71%. However, Shiba Inu predictions estimate that the token may end in 2023 with the highest value of $0.0000220. That is an optimistic figure. The lowest it can go is $0.0000091.

The team has pushed the burn rate down to 71.49%. The SHIB Army has disposed of a total of 22,971,254 SHIB coins. The rate has now been negative for the last 24 hours. SHIB has recorded the largest burn of 10,000,000 tokens by transferring it to an unspendable wallet address. It took 162 transactions to destroy 341,152,570 tokens.

Shibarium is doing pretty well, considering it was launched 40 days ago. The number of transactions has crossed 3.3 million, with a daily count of 12,850. It peaked on September 13, 2023, when the number was 200,000. The number of minted blocks has exceeded 1 million, with 1,252,689 wallets connected.

The market cap of SHIB is down by 3.12% to stand at $4,097,683,573. Volume, however, has soared by 103.46% in the last 24 hours. The number stands at $116,085,794.

Shytoshi Kusama has teased a new partnership with Bad Idea AI without spilling many details. It is clear that the idea is to boost AI initiatives. The community can expect updates in the coming days.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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