Shib Price Drop To 10%
Shytoshi Kusama, a well-known leader of the Shiba Inu project, announced his resignation as leader of Shiba Inu. After years of guiding the Shiba Inu ecosystem, Yayoi Kusama has revealed that he will be stepping down from his role as Chief Visionary to take on a new role as Chief Shiba Inu Ambassador. This change comes as the project continues to grow and leave its mark on the Web3 landscape.
Shiba Inu: From Meme Coin to Web3 Leader
In her statement, Kusama reflected on the evolution of the Shiba Inu. Inspired by the project’s founder Ryoshi, the ecosystem started with a simple vision and expanded into a powerful Web3 framework.
Under his leadership, key projects such as ShibaSwap and Shibarium and tokens such as BONE, LEASH and TREAT were developed. Yayoi Kusama pointed out that Shiba Inu has become more than just a cryptocurrency. It now serves as “Network Nation”, providing tools to help governments, businesses and individuals transition from Web2 to Web3.
While some projects like Shibacon and the stablecoin Shib are still in progress, Kusama is proud of the progress the community has made.
Yayoi Kusama’s new role
Yayoi Kusama’s new role as chief ambassador is aimed at driving global adoption of Shiba Inu technology. The focus will be on promoting ShibOS, a rebranded set of tools designed for seamless Web3 integration.
By partnering with global leaders, businesses, and NGOs, Kusama plans to strengthen the Shiba Inu ecosystem and strengthen its position in the decentralized technology space.
He also mentioned working on personal projects, such as developing “44 Principles for Cryptocurrency Victory,” while ensuring that all collaborations are aligned with Shiba Inu’s technology.
Shiba Inu Burn Rate Surges During Market Downturn
Despite Kusama’s announcement, the Shiba Inu remains active. According to Shibburn, the token burn rate surged 856%, causing 6.27 million tokens to be withdrawn from circulation.
However, the price of Shiba Inu is facing a decline. down 11% to $0.00001789, with a market capitalization of $10.5 billion.
