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Shiba Inu Dev says SHIB Not Created as ‘Money Maker’ – Rather Focused on Building

Last Updated October 11, 2023 9:43 AM
Teuta Franjkovic
Last Updated October 11, 2023 9:43 AM

Key Takeaways

  • Shiba Inudeveloper Shytoshi Kusama addressed criticism about the token’s price.
  • He emphasized that significant “true work” is needed for price increases.
  • Shiba Inu’s team remains active, with millions of transactions and wallets engaging with the network.
  • The Shiba Inu team introduced a deflationary mechanism to increase SHIB’s value as the supply diminishes.

Recently, the primary developer for Shiba Inu, Shytoshi Kusama, addressed  criticism from a community member who said that despite the team’s efforts, the price of Shiba Inu (SHIB) hasn’t changed significantly.

Not Noise But Only ‘True Work’ Needed

In a tweet  posted to his X (previously Twitter) platform, Kusama asserted that “true work” rather than pointless commotion is required to ensure that the price of SHIB increases significantly because “those who bark the loudest aren’t the ones working.”

Given that SHIB was expected to increase dramatically following Shibarium’s launch in August, the specific user in question (@Blacktalizman) definitely shares  the opinions of many people in the Shiba Inu community. Instead, since the layer-2 network’s introduction, the token’s price has steadily decreased.

After Kusama’s reply, Blacktalizman concurred with Kusama that significant effort would be required to ensure that the price of SHIB increased.

Although he acknowledged that the token wasn’t made to earn “money,” he also pointed out that many people in the neighborhood have a lot riding on its success because “many are on their last dime.”

Shiba Inu Doesn’t Lack

Shiba Inu’s team has undoubtedly been active despite their efforts not yet being reflected in the price of SHIB. For starters, a lot of people praised the team’s response to Shibarium’s unsuccessful launch.

They immediately ramped up their efforts to grow the network and make sure it was back up. Shytoshi Kusama and Kaal Dhairya, the key developers for Shiba Inu, made sure to keep the community informed frequently during that time.

Shibarium continues to reach new milestones, which seems to support these efforts. The layer-2 network has successfully executed over 3 million transactions, and over 1.2 million wallets have interacted with the network, according to data from the Shibarium explorer Shibariumscan .

Since the token’s burn rate has lately risen, the Shiba Inu team has also worked to make sure it is deflationary. This burn mechanism ensures that SHIB’s value will rise as the overall supply in circulation falls.

Shiba Inu’s Marketing Lead, Lucie, mentioned that the burn mechanism is a community effort and does not just rely on the creators. She asserted that the community must actively adopt Shibarium because the burns are set per transaction, not based on tweets about burns.

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