Shib Price Drop To 10%

Shytoshi Kusama, the well-known leader of the Shiba Inu project, has announced that he has stepped down as Shiba Inu Leader. After years of guiding the Shiba Inu ecosystem, Kusama revealed that he is stepping down as the lead visionary to take on a new role as the lead ambassador for Shiba Inu. This change comes as the project continues to grow and make its mark in the Web3 space.

Shiba Inu: From Meme Coin To Web3 Leader

In his announcement, Kusama reflected on Shiba Inu’s evolution. Starting with a simple vision inspired by the project’s founder, Ryoshi, the ecosystem expanded into a robust Web3 framework. 

Under his leadership, key projects like ShibaSwap, Shibarium, and tokens such as BONE, LEASH, and TREAT were developed. Kusama noted how Shiba Inu has become more than just a cryptocurrency. It now serves as a “Network State,” offering 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 expressed pride in how far the community has come.

Kusama’s New Role

With his new role as lead ambassador, Kusama aims to drive global adoption of Shiba Inu’s technologies. A key focus will be promoting ShibOS, a rebranded suite of tools designed for seamless Web3 integration. 

By partnering with global leaders, businesses, and NGOs, Kusama plans to strengthen Shiba Inu’s ecosystem and enhance its position in the decentralized tech space.

He also mentioned working on personal projects, such as developing the “44 Tenets to Triumph in Crypto,” while ensuring that all collaborations align with Shiba Inu’s technologies.

Shiba Inu Burn Rate Spike Amid Market Drop

Despite Kusama’s announcement, Shiba Inu remains active. The token burn rate surged by 856%, removing 6.27 million tokens from circulation, according to Shibburn.

However, Shiba Inu’s price has faced a decline, dropping 11% to $0.00001789, with a market cap of $10.5 billion.