Shytoshi Kusama, the lead developer of Shiba Inu, recently stirred up controversy within the SHIB community with a sarcastic post on X regarding token burns.
The post was directed at Shibtoshi, the founder of SquidGrow, and triggered a mixed reaction, highlighting tensions within the ecosystem over the project’s progress and communication strategies.
The controversy began when Shibtoshi claimed to have burned 1 billion SHIB tokens within an hour, a move intended to reduce the token’s circulating supply and bolster its value.
Kusama responded by expressing excitement at the prospect of a burn from “the billion-dollar wallet” but quickly dismissed the idea, stating, “Oh… it didn’t? That wallet is still frozen in time? Ok, back to work then.”
I am so excited to hear that a burn came from the billion dollar wallet, pre-announced.
Oh…it didn't? That wallet is still frozen in time?
Ok, back to work then.
— Shytoshi Kusama™ (@ShytoshiKusama) November 30, 2024
This comment appeared to mock the notion of significant burns coming from sources that the community might overestimate. While some community members found the response amusing, others criticized it as dismissive and unconstructive, especially given ongoing concerns about the slow pace of SHIB burns.
Shibtoshi’s Burn and Its Impact
Shibtoshi’s 1 billion SHIB burn was seen as a proactive step to support the SHIB ecosystem. According to reports, the burn was executed quickly, removing a substantial SHIB from circulation.
While the move was welcomed as a positive contribution by some SHIB holders, some in the community challenged the Shiba Inu team to do more to address the ecosystem issues.
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Some community members also called on Kusama to match the donation, while Shibtoshi received significant praise from SHIB community members. Shibtoshi, who has been vocal about his support for Shiba Inu, has increasingly positioned himself as a figure influencing the community.
His actions, including the significant burn, have highlighted frustrations within the SHIB Army regarding the perceived lack of urgency from the project’s leadership in implementing large-scale burns. This burn also drew calls from the community for Kusama to stop avoiding Shibtoshi.
The exchange between Kusama and Shibtoshi has again brought the Shiba Inu team’s leadership under scrutiny. Critics argue that while burns are being executed, the scale remains insufficient to meet the expectations of SHIB holders hoping for significant price impacts.
However, many in the community are optimistic, as Shiba Inu remains the largest ERC-20 token. SHIB has risen by over 52% this month to its current price of $0.00002984.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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