“True Work” Key to Shiba Inu’s Price Increase
Shytoshi Kusama, the lead developer of Shiba Inu (SHIB), responded to criticism from a community member regarding the token’s stagnant price despite the team’s efforts. Kusama emphasized the need for “true work” rather than unnecessary noise to achieve a significant increase in SHIB’s price. He stated that those who make the most noise are not necessarily the ones working hard.
Community Frustration with SHIB’s Price
The user @Blacktalizman, who voiced the criticism, represents the sentiments of many in the Shiba Inu community. The launch of Shibarium in August was expected to cause a significant rise in SHIB’s price, but instead, it has remained stagnant and even declined. Blacktalizman agreed with Kusama that substantial effort is required to increase SHIB’s price, acknowledging that many community members have heavily invested in its growth.
Shiba Inu Team’s Active Efforts
Despite the lack of reflection in SHIB’s price, it is evident that the Shiba Inu team has been proactive. They swiftly addressed issues during Shibarium’s launch and made efforts to scale the network and keep it operational. Lead developers Shytoshi Kusama and Kaal Dhairya consistently updated the community during this period.
Shibarium has achieved several milestones, processing over 3 million transactions and engaging with over 1.2 million wallets, according to data from the Shibarium explorer Shibariumscan. The team has also implemented a deflationary mechanism to increase SHIB’s value by reducing the total circulating supply through token burns.
Burn Mechanism as a Community Effort
Shiba Inu’s Marketing lead, Lucie, emphasized that the burn mechanism relies on community adoption of Shibarium, not just the developers. The burns occur per transaction and are not influenced by tweets about burns. The community can anticipate more innovative projects from the team, including “The Shib,” which Kusama mentioned will be unveiled in the coming weeks.
Current SHIB Price
At present, Shiba Inu is trading at around $0.000007181, experiencing a nearly 1% decrease in the last twenty-four hours, according to data from CoinMarketCap.
Hot Take: Shiba Inu Continues to Struggle with Price Despite Team’s Efforts
Despite the hard work and dedication of the Shiba Inu team, SHIB’s price remains stagnant. The community shares frustration over the lack of significant price movement despite milestones achieved and ongoing initiatives. It is clear that more than just noise is needed for SHIB’s price to increase substantially. Community members must actively adopt Shibarium and contribute to the burn mechanism for tangible results. The team continues to work on new projects, but it remains uncertain whether these efforts will translate into significant price growth for SHIB in the near future.
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