Latest news with #ShytoshiKusama
Yahoo
09-03-2025
- Business
- Yahoo
Shiba Inu burn rate surges as Shytoshi Kusama says SHIB ETF is ‘one step closer'
The Shiba Inu (SHIB) community has ramped up its efforts to reduce the token's circulating supply, with the latest data showing a staggering 5,440.85% increase in the daily burn rate. According to Shibburn, 40 million SHIB tokens were burned in the last 24 hours, fueled by two large transactions that sent over 32.8 million SHIB to dead wallets. Shibburn reports that a total of 13 million SHIB and 20 million SHIB were burned in separate transactions. Over the past week, 140 million SHIB tokens have been destroyed, marking a 10.45% weekly surge in the burn rate. This spike in burns has intensified speculation about a potential Shiba Inu ETF (SHIB ETF) following news that Bitwise Asset Management has applied for a Dogecoin (DOGE) ETF. This comes as Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, expressed optimism about the prospects of a Shiba Inu ETF in light of the DOGE ETF filing. "An ETF for SHIB is now one step closer due to the approval of Ethereum's ETF. This is a significant milestone for both ETH and SHIB," Kusama told The Shib Daily. The New York Stock Exchange Arca (NYSE Arca) filed a 19b-4 proposal on March 3, aiming to list and trade shares of the Bitwise Dogecoin ETF. If approved by the U.S. Securities and Exchange Commission (SEC), the ETF would provide regulated exposure to DOGE for retail and institutional investors. The DOGE ETF will operate on a cash-based system, meaning investors cannot directly deposit or withdraw Dogecoin. Coinbase Custody will serve as the custodian, while Bank of New York Mellon (BNY Mellon) will handle administration, record-keeping, and cash holdings.
Yahoo
06-02-2025
- Business
- Yahoo
Shiba Inu burn rate drops 50% — analyst predicts 300% surge by May
Shiba Inu's burn rate has declined by 50% in the past 24 hours, with over 7.5 million SHIB permanently removed from circulation. Despite the slowdown, SHIB is outperforming major meme coins like Dogecoin, Pepe, and Bonk, surging 4% to $0.00001586 in the past 24 hours. At the time of writing, Shiba Inu's total burned supply stands at 410.74 trillion SHIB, while the max total supply is 999.98 trillion SHIB. The total circulating supply remains at 589.25 trillion SHIB. Shiba Inu's latest price rally comes as the Ministry of Energy and Infrastructure (MoEI) of the United Arab Emirates (UAE) partners with the Shiba Inu ecosystem. Shytoshi Kusama, lead visionary of Shiba Inu said, 'We're thrilled the Ministry sees Shiba Inu as a cornerstone for next-generation infrastructure. This partnership showcases the power of Shiba Inu in delivering groundbreaking solutions.' On Jan. 26, Kusama, the pseudonymous leader of the Shiba Inu ecosystem, announced that he is stepping down from his role as lead visionary. Kusama will now serve as the project's lead ambassador. Pseudonymous crypto analyst Jaibrah sees Shiba Inu poised for a massive breakout: 'SHIB is presenting a great risk-to-reward ratio and is going to pump 300% within the next 3 months once it breaks out of the falling wedge pattern and reaches its price target of $0.000033.' Meanwhile, Finbold's AI prediction tool forecasts that Shiba Inu will trade at $0.00001952 by February 28, reflecting an 18.6% gain from its current price of $0.00001646. Token burning is a process where a certain amount of cryptocurrency is permanently removed from circulation, reducing the total supply. This is done by sending tokens to an inaccessible wallet, known as a burn address, which nobody can access. The idea behind burning is to create scarcity, which, in theory, increases the value of the remaining tokens by making them more limited. Sign in to access your portfolio
Khaleej Times
04-02-2025
- Business
- Khaleej Times
Ministry of Energy and Infrastructure partners with Shiba Inu to advance digital transformation
The Ministry of Energy and Infrastructure (MoEI) has partnered with Shiba Inu in advancing next-generation, Web3 solutions in energy, infrastructure, and beyond—further solidifying its reputation as a global leader in digital transformation. Marking a new era in Web3, this partnership leverages Shiba Inu's broad range of Web3 technologies to support public service efficiency, green infrastructure enhancements, and citizen-focused governance models. Shiba Inu's Operational System (ShibOS) will unify development across MoEI operations. Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, said: 'We're delighted to deepen our commitment to cutting-edge digital services. This partnership represents a pivotal moment in our journey toward redefining government services. By embracing emerging technologies, we aim to set a global benchmark for innovation, delivering transformative solutions that benefit both our citizens and the wider community. Together, we are shaping a future built on sustainability, connectivity, and digital excellence.' Shytoshi Kusama, lead visionary for the Shiba Inu team, said: 'We're thrilled the Ministry sees Shiba Inu as a cornerstone for next-generation infrastructure. This partnership showcases the power of Shiba Inu in delivering groundbreaking solutions. Together, we will redefine how, businesses, and citizens collaborate in a transparent, eco-friendly digital framework.' One of the most recognized brands in the world, Shiba Inu offers a wide array of blockchain and AI-driven solutions that enable any person, business, city, or country to move from Web2 to Web3. Its successes include powerful partnerships, an L2 blockchain, multiple NFT projects, Web3 Gaming, high-fidelity Metaverse and several DeFi protocols alongside groundbreaking proprietary and cutting-edge technologies.
