Shiba Inu (SHIB), one of the most popular meme tokens in the cryptocurrency sector, is making headlines with its latest developments. Shiba Inu has increased its token burn rate by 7000%, a change that has pushed the price of SHIB up by 11% in a short period and propelled the token above the critical resistance level of $0.000008.
SHIB Burn Rate Skyrockets
Currently, SHIB’s burn rate has achieved a remarkable increase of 6936.88%, which essentially translates to a massive reduction in token supply. Even in the last 24 hours, data shows that 341,504,230 SHIB tokens have been burnt. Shytoshi Kusama, the lead developer of the SHIB team, shared this information in a blog post. He also revealed that a new project named Shibarium is underway, hinting at potential surprises to come.
It appears that SHIB investors are being primed for surprises before the launch of Shibarium. The first paragraph of the blog post alludes to a project called “Worldpaper”. According to the lead developer, this is a technical document touching on various aspects of the SHIB ecosystem. This document will encompass tokens, products, platforms, services within the SHIB ecosystem, including SHIB, BONE, LEASH, TREAT, SHHHH-İ and more.
A Fresh Start for SHIB
Highlighting that Worldpaper is different from the previously published Woofpaper, Shytoshi stated it is a development set to “save the world through decentralization.”
The release of this document, in fact, signifies a major shift. With SHIB’s ecosystem set to transition to a multi-token governance system, there might no longer be a need for a lead developer role. Ryoshi, one of the founders, previously emphasized that governance would be fully decentralized.
A look at the blog post published by the SHIB team suggests continuous growth initiatives for the ecosystem. SHIB, breaking its recent silence with these developments, could continue its rally and potentially spark a new meme token frenzy. The possibility of a similar rise for DOGE increases this probability and fuels investor excitement.
