From speculation that the Shibarium testnet chain is the same as Rinia’s, to BitBoy accusing Shytoshi Kusama as being Sam Bankman-Fried, fear, uncertainty, and doubt about the ecosystem worsened.
However, investors seem thrilled about the recent release of the Shibarium testnet called PuppyNet . This overcame the FUD surrounding the ecosystem, showing investors that SHIB is resilient even with the odds stacked against them.
However, the confidence seemed to be shaken with CoinGecko showing SHIB shedding more than 6% in the weekly timeframe.
Burn Rate Falls By Nearly 70% This Week
The burn rate for Shiba Inu has been in decline following the token’s price drop in the past couple of weeks. ShibBurn, a dedicated Twitter account for tracking the burn rate of SHIB, recently took note of a 70% decline in burn rate in the weekly timeframe. This already recovered to a general decline of 63%, but it remains a problem in the long term.
HOURLY SHIB UPDATE $SHIB Price: $0.0000105 (1hr -0.26% ▼ | 24hr -0.67% ▼ )
Market Cap: $6,204,903,177 (-0.52% ▼)
Total Supply: 589,608,944,526,096
TOKENS BURNT
Past 24Hrs: 36,808,721 (1107% ▲)
Past 7 Days: 856,350,309 (-63.42% ▼)
— Shibburn (@shibburn) March 27, 2023
This followed the FUD surrounding the ecosystem which worsened with the recent accusations around Shibarium and Shytoshi. Despite this, the Shiba Inu community still seems bullish on Shibarium with Shytoshi reassuring the community.
Woof
Facts: THOUSANDS OF PROJECTS JOINING #Shibarium WILL BURN $SHIB