Shiba Inu, one of the leading meme tokens in the market, is expected to have an eventful week according to an announcement made by its official Twitter account. The upcoming Blockchain Futurist Conference is already generating excitement within the Shiba Inu community. SHIB, which has risen by 24% in the past week, is also contributing to this excitement with its performance.
It was announced that the Shiba Inu team is gearing up to ignite a significant SHIB excitement. The Canada Blockchain Futurist Conference will begin within hours and will last for two days. Additionally, Shytoshi Kusama, the leader of Shiba Inu, will deliver a speech about the Shiba Inu ecosystem and the Shibarium Layer-2 network through artificial intelligence in order to remain anonymous.
Alongside Shytoshi, several important members of the SHIB team, including Shiba Inu’s Metaverse Advisor Marcy Jastrow, will also attend the conference. Jastrow aims to present SHIB Metaverse to the global crypto community and plans to announce the launch date before the start of September.
Investors Buying SHIB Ahead of the Launch
During the conference, Shytoshi Kusama and the SHIB team will finally release Shibarium, a Layer-2 scaling network that has only been operational on the testnet called Puppynet.
Last week, SHIB, the second largest meme coin, reached its peak on Saturday, August 12th, with a nearly 24% increase, reaching $0.00001122. With the SHIB community eagerly anticipating the Shibarium launch over the weekend and large investors known as whales starting to buy significant amounts of this meme token, its market value received support to exceed $6 billion.
Billions of SHIB Burned
Within the past 24 hours, the SHIB community managed to transfer over 716 million SHIB to burn wallets through nearly 10,090 transactions. Particularly, in a single transfer made from a new wallet that has only performed six transactions, almost half of this amount, which is 342,561,867 SHIB tokens, was burned. Some users from the SHIB community speculate that this wallet could belong to Tangem, a Swiss company that partnered with Shiba Inu earlier this year to produce cold SHIB wallets.
Tangem had previously announced that they are ready to convert 5% of the profits from the sale of these SHIB wallets into Shiba Inu and burn these tokens. Last week, they also stated that they are ready to burn roughly 337,224,880 SHIB, which is equivalent to 3,524 USDT. In addition to the recent significant SHIB burn, the burns from the past week also appear quite impressive. According to the on-chain data shared by Shibburn, a total of 1,164,755,557 SHIB has been sent to burn addresses in the past seven days.
