SHIB Lead Kusama Endorses Key Upcoming Shiba Inu Event, SHIB Holders Excited

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Mysterious SHIB lead known to the crypto community as Shytoshi Kusama has gained the SHIB army’s attention by posting a tweet about the approaching ShibaCon – an important blockchain conference hosted by the Shiba Inu team.

ShibaCon event looms on horizon

ShibaCon is to take place in Bangkok, Thailand, and will last for slightly more than a week – from Nov. 5 to Nov. 15.

It will take place at roughly the same time as the annual DevCon event in Bangkok – between Nov. 7 and Nov. 17.

Numerous leaders of the blockchain industry, including DeFi and NFTs, Web3 and gaming, will visit the event to become keynote speakers and arrange discussions on various important topics. There will also be various opportunities for networking for developers, influencers, content creators, etc., to meet like-minded individuals and exchange knowledge and experience with them.

In the comments to Kusama’s tweet, the Shiba Inu community reacted with enthusiasm, anticipating the start of the event. Some users regretted that tickets cannot be bought using Shibarium tokens – SHIB, BONE or LEASH – and via Shibarium too.

Shiba Inu price action

This week, the second largest meme cryptocurrency, SHIB, faced high volatility. On Tuesday, it suddenly plunged by more than 12%, dropping from $0.00001840 to the $0.00001612 mark. This major decline hit, first of all, Bitcoin, with the whole cryptocurrency market following it. Bitcoin and the stock market were hit by the negative pivot in the geopolitical situation in the Middle East that occurred this week.

Over the past 24 hours, the situation has slightly changed for the better for SHIB – it has staged an increase of 4.7%, and at the time of writing, this material is changing hands at $0.00001688.

On Tuesday, Bitcoin crashed by roughly 5%, falling from the $63,900 zone to $60,750. By now, the world’s flagship cryptocurrency has partly recovered its losses by rising 1.62% to reach the $61,730 level, where it is currently trading.

SHIB burn rate below zero

During the period of the last 24 hours, one of the key SHIB metrics, the burn rate, has plunged below zero, currently showing minus 92%.

Since yesterday morning, the SHIB community has managed to dispose of only 800,000 SHIB in a single burn transfer. Yesterday, more than 1,500,000 SHIB were burned, according to Shibburn.