In a recent development, Shiba Inu lead developer, Shytoshi Kusama, responded to a community member’s criticism that Shiba Inu’s (SHIB) price hasn’t experienced any significant change despite the team’s hard work.
“True Work”, Not Noise Needed
In a tweet shared on his X (formerly Twitter) platform, Kusama suggested that “true work” is needed to ensure that there is a significant increase in SHIB’s price rather than any unnecessary noise, as “those who bark the loudest aren’t the ones working.”
The particular user (@Blacktalizman) in question undoubtedly shares the sentiments of many persons in the Shiba Inu community, considering that SHIB had been projected to rise significantly following Shibarium’s launch in August. Instead, the token’s price has remained tepid and rather declined since the layer-2 network launched.
Following Kusama’s response, Blacktalizman agreed with Kusama that great effort was needed to ensure that there was an increase in SHIB’s price. He admitted that the token wasn’t created as a “money maker” but noted that many in the community are heavily invested in its growth as “many are on their last dime.”
SHIB price shows weakness as bears clinch control | SourcE: SHIBUSD on Tradingview.com
Shiba Inu Not Lacking
Despite their efforts not yet reflected in SHIB’s price, there is no denying that Shiba Inu’s team has been up and doing. For one, many commended how the team reacted following Shibarium’s botched launch.
They quickly intensified their efforts to scale the network and ensure it was up and running again. During that period, Shiba Inu lead developers Shytoshi Kusama and Kaal Dhairya ensured they regularly updated the community.
Meanwhile, these efforts also seem evident in the milestones that Shibarium continues to attain. According to data from the Shibarium explorer Shibariumscan, the layer-2 network has successfully processed over 3 million transactions, and over 1.2 million wallets have interacted with the network.
The Shiba Inu team has also made efforts to ensure the token is deflationary, as the token’s burn rate has recently increased. With this burn mechanism in place, SHIB’s value is primed to increase as the total circulating supply decreases.
Regarding the burn mechanism, Shiba Inu’s Marketing lead, Lucie, noted that it is a community effort and not solely dependent on the developers. According to her, community members must actively adopt Shibarium as the burns “are set per transaction, not based on tweets about burns.”
The community can also expect more groundbreaking initiatives from the team, as several projects seem to be in the pipeline. In a tweet, Kusama teased about “The Shib,” which he mentioned will grace the stage in the next few weeks.
As of the time of writing, Shiba Inu is trading at around $0.000007181, down almost 1% in the last twenty-four hours, according to data from CoinMarketCap.
Featured image from Analytics Insight, chart from Tradingview.com