Shytoshi Kusama’s Dragon Ball Meme Sparks Shiba Inu 29% Surge and Burn Rate Explosion

Shiba Inu and Bone ShibaSwap have experienced substantial price surges driven by recent developments within the Shiba Inu ecosystem.

Shytoshi Kusama, the enigmatic lead developer of Shiba Inu, has celebrated the rally. He shared a GIF on X (formerly Twitter) featuring Vegeta from Dragon Ball, symbolizing his satisfaction with the market’s performance.

On Thursday, SHIB, the largest cryptocurrency in the Shiba Inu ecosystem by market capitalization, soared nearly 29% within 24 hours, reaching levels not seen since mid-June.

The cryptocurrency has also seen a dramatic increase in its burn rate, soaring by an astonishing 33,818%.

The trading volume for SHIB more than tripled, hitting $1.2 billion. Similarly, BONE, an essential token used in the decentralized exchange ShibaSwap and the Layer-2 blockchain Shibarium, saw a 15% increase in value.

pic.twitter.com/hK5PDBZ91N

— Shytoshi Kusama™ (@ShytoshiKusama) September 26, 2024

Catalysts for the Rally:

The surge in SHIB and BONE prices followed a teaser from Shiba Inu’s marketing lead, Lucie, about the ecosystem’s upcoming stablecoin, SHI.

First introduced by the project’s founder, Ryoshi, in 2021, SHI is considered a crucial development to enhance Shibarium’s features. Lucie’s announcement has generated significant excitement and optimism within the Shiba Inu community.

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