Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	10,017,774,846	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

10,017,774,846

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000017	0.000017	0.000017

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000017

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000017	0.000017	0.000017	0.000017	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000017

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:47:31	1,353,192.00	0.000017	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:47:31

1,353,192.00

0.000017

USD

Price x Volume	Volume	Base Symbol	Related Pairs
5,212,819.37	119,157,284,804.56	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

5,212,819.37

119,157,284,804.56

Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

24/11/2023 9:40am

NEWSBTC

Shiba Inu (SHIB) burn tracker, Shibburn, has called out the creator of the meme coin, who goes by the pseudonym “Ryoshi”. The community project seemed to suggest that Ryoshi wasn’t acting in the best interest of the SHIB ecosystem. How “Ryoshi” Has Hampered SHIB’s Burn Rate In a series of posts on their X (formerly Twitter) platform, Shibburn alleged that the founders of the token haven’t always been honest in their dealings. Specifically, the platform suggested that the founders have forestalled the token’s burn rate by refusing to burn over 103 trillion SHIB. This particular allegation stemmed from their statement about Ryoshi’s SHIB holdings. Related Reading: FTX’s FTT Token Leads Market Gains With 55% Rally, What’s Driving It? Shibburn mentioned that Ryoshi lied about how much SHIB they held. They stated how the SHIB founder had, in their own words, claimed to hold “0 SHIB” as doing otherwise could bring about a conflict of interest. Meanwhile, that turned out to be a lie, as Ryoshi apparently holds over $1 billion worth of SHIB. The founders have apparently gone to great lengths to hide their holdings as they keep moving them across separate wallets. In doing so, Shibburn believes that they have impeded the ecosystem’s growth as some of these tokens are meant to be burnt. Shibburn went as far as alleging that Ryoshi didn’t care about SHIB’s development and was only out for themselves. Shiba Inu Founders Only Out To Enrich Themselves As part of the shocking revelations, Shibburn mentioned that Ryoshi may not be who many think of them as. Instead, they are said to be a “group of greedy investors” who are just looking to profit off the community. To achieve this, SHIB is said to be their “golden goose,” which they use as a means to enrich themselves. Besides Ryoshi, SHIB’s lead developer, Shytoshi Kusama, was also caught up in the mix. Shibburn accused the developer of not being a “real dev” and suggested that Shytoshi was also out to make profits off the community. One instance that they alluded to was how the developers allegedly rewarded themselves with a “large amount of $BONE” when ShibaSwap was created. Related Reading: AVAX Holders Beware: $204 Million Token Unlock Could Trigger Price Crash Today Shibburn hinted that was the reason why BONE was made a gas token for Shibarium, possibly in a bid to increase the token’s utility and make it more valuable. Shytoshi has yet to respond to these allegations neither has anything been posted on the official announcements blog, where the developers are known to give regular updates. Shiba Inu also seems unfazed by these allegations. At the time of writing, the meme coin is trading at around $0.000008189, up in the last 24 hours, according to data from CoinMarketCap. SHIB price stalls as bulls vie for control | Source: SHIBUSD on Tradingview.com Featured image from Coins.ph, chart from Tradingview.com

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