Shiba Inu, the most popular meme coin, has warned the SHIB community that they shouldn’t anticipate a “quiet week ahead” because the term “quiet” is not in their lexicon.
“Some serious SHIB excitement” coming this week
According to the SHIB account, the squad is “about to ignite some serious Shib excitement.” The highly anticipated annual Canadian Blockchain Futurist Conference is about to begin in just one day. It will take place on August 15 and 16, and SHIB is one of its principal sponsors. A lecture about SHIB, decentralisation, and the Shibarium Layer 2 network will also be given by Shiba Inu’s leader, the fictitious Shytoshi Kusama, in order to maintain his anonymity.
Along with Marcy Jastrow, Shiba Inu’s metaverse adviser, other significant members of the SHIB team will attend the conference in addition to Shytoshi. Jastrow wants to introduce the SHIB Metaverse to the world’s cryptocurrency community. He also likely announce the release of a few metaverse hubs as their debut was previously predicted to occur before the beginning of September.
Traders grabbing SHIB ahead of Shibarium launch
Shytoshi Kusama and the SHIB team are anticipated to officially introduce the Layer 2 blockchain Shibarium during the conference. Up until now, the Layer 2 blockchain has only been operational on the Puppynet testnet.
The second-largest meme currency, SHIB, displayed an astounding increase of about 24% over the last week, reaching a peak on Saturday, August 12, at $0.00001122. The SHIB community had been anticipating the debut of Shibarium, and major investors known as whales started to acquire enormous quantities of these meme coins over the weekend, helping the coin’s market capitalization to rise to reach $6 billion.
Hundreds of billions of SHIB burned
As was previously reported, the SHIB army has been able to move more over 716 million SHIB to dead-end wallets in little over 100 transactions during the past 24 hours. Notably, 342,561,867 SHIB, or about half of that total, was burnt in a single transfer from a brand-new wallet that had just completed six transactions.
Some SHIB army members believe that this wallet may be the property of Tangem, a Swiss business that creates cold crypto wallets for self-custody and recently teamed with Shiba Inu to start producing cold SHIB wallets. 5% of the revenue from the sale of those SHIB wallets, according to a statement made by Tangem last week, will be converted into Shiba Inu tokens and burned. They declared last Monday that they were ready to burn 3,524 USDT, or around 337,224,880 SHIB.
The SHIB flames from last week seem extremely amazing in addition to the recent huge burn of SHIB. The Shibburn tracker indicates that 1,164,755,557 SHIB were transferred to dead-end SHIB addresses during the course of the previous seven days.
