Sometimes, not only the head of the project is anonymous, but also the team of developers. Shiba Inu's team is one of them. Although derived from jokes, SHIB is now cryptocurrency 17th largest by market capitalization according to CoinMarketCap.
However, members of the community are very confused about the identity of the developer team, especially since they are still active on Twitter, unlike Satoshi Nakamoto is completely "anonymously hidden".
Shiba Inu: Far-fetched theories
Crazy theories are mainly geared towards billionaires Elon Musk – is the CEO of SpaceX and Tesla among others. Musk is a supporter Bitcoin and his comments on DOGE could cause the top memecoin price to skyrocket within hours.
Among the most influential figures in the crypto space, Elon Musk and Vitalik Buterin – founders Ethereum are the names that are rumored to be behind SHIB the most. But Shytoshi's Twitter account Kusama it's early rejected these allegations.
The number of burning SHIB promises to increase more and more
Despite the speculation surrounding Shytoshi Kusama, the token is still very popular. It is often considered a major alternative investment solution Bitcoin and ETH, tokens that are “classic” in the mind of the holder.
Last week, the SHIB price increased by nearly 14% and traded at $0.00001225. However, at the time of writing, the price is down by almost 7% over the past 7 days to $0.00001156.
1 day SHIB price chart | Source: Tradingview
Follow Shibburn, more than 1 billion SHIB was burned in the last 7 days, through a total of 104 transactions. Shytoshi Kusama reiterated the community's role in promoting the beneficial development of this cryptocurrency.
In fact, the developer confirm the community needs to put in a lot of effort to be able to burn a large amount of tokens.
According to data updated daily by Twitter account and burning website Shibburn, more than 410,373,764,750,087 tokens have been withdrawn from the initial supply, or nearly half of the maximum number of tokens.
Burn SHIB regularly
Such frequent burnings promise to gradually influence future prices. But there's no guarantee the price will hit $1 or even $0.10.
Out of 100 addresses Ethereum at the top, SHIB also appeared at the top of the chart and remained at the top from week to week.
There are two main drivers that encourage whales to buy SHIB: the means of payment and the expectation of price after it removes a few zeros in the fall of 2021.
Memecoin is currently establishing itself quite well and is generally one of the first choices when it comes to being accepted as a means of payment.
Shiba Inu is always looking to diversify and further develop its projects. The coming months promise to be very interesting as the development team discusses top projects: SHIB, The Metaverse.