Last Updated on September 25, 2022 by Bitfinsider

Ryoshi, Shiba Inu’s founder, has vanished from all social media channels, sparking concern among SHIB holders and the general public. Rumors continue to circulate as a result of Ryoshi deleting all of his tweets, thus erasing his entire online footprint.

Following Ryoshi’s departure from the Shiba Inu community, project leader and developer Shytoshi Kusama stepped out and declared that the team would continue Ryoshi’s vision.

Overnight, 54.6 million Shiba Inu tokens were burned

After the course of events on May 29, the burn rate of the Shiba-Inu-themed meme coin took a severe hit. Only 54.6 million SHIB tokens were burned in the last 24 hours. Overnight, the burn rate has decreased by 64.2 percent.

A disrupted fall in the token’s circulating quantity is connected with a decrease in burn rate, prolonging the bullish impact of lowering SHIB circulation on its price. So far, 410.46 trillion Shiba Inu tokens have been burned, drastically reducing the SHIB supply.

Shiba Inu could suffer the same fate as Terra, according to experts

Shiba Inu, like Terraform Labs’ LUNA (now Luna Classic-LUNC) and TerraUSD (UST), could crash according to a forecast by cryptocurrency specialists at Finder. The research was first published in May 2022 and included the views of 36 bitcoin specialists.

Shiba Inu is one of the most hard-hit meme coins in the crypto industry, and analysts say the Dogecoin-killer is vulnerable to a number of risks.

Shiba Inu is in the same category as LUNA, and the project has no practical use cases, according to crypto specialists. Shiba Inu’s lack of usability suggests that it focuses on marketing rather than its actual product. While Shiba Inu does not have a stablecoin in its project, Terra does have one in the works with its algorithmic stablecoin UST.

Unlike UST’s $1 peg, Shiba Inu’s stablecoin will be tied to $0.01. Ryoshi believed that  Shiba Inu’s stablecoin would be more robust than algorithmic stablecoins in the ecosystem. The project is “nearing completion,” but no information on how the peg will be maintained has yet to be revealed.

The Shiba Inu price movement has been evaluated by analysts, who have set a bullish $0.000014 forecast for the meme currency. When compared to other altcoins in the crypto market, analysts say Shiba Inu has a lack of liquidity, and the upside is capped at $0.0000128. If the Shiba Inu price maintains its upward trajectory, a jump to $0.000014 is possible.

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