Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB
November 24 2023 - 4:40AM
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Shiba Inu (SHIB) burn tracker, Shibburn, has called out the creator
of the meme coin, who goes by the pseudonym “Ryoshi”. The community
project seemed to suggest that Ryoshi wasn’t acting in the best
interest of the SHIB ecosystem. How “Ryoshi” Has
Hampered SHIB’s Burn Rate In a series of posts on their X (formerly
Twitter) platform, Shibburn alleged that the founders of the token
haven’t always been honest in their dealings. Specifically, the
platform suggested that the founders have forestalled the token’s
burn rate by refusing to burn over 103 trillion SHIB. This
particular allegation stemmed from their statement about Ryoshi’s
SHIB holdings. Related Reading: FTX’s FTT Token Leads Market Gains
With 55% Rally, What’s Driving It? Shibburn mentioned that Ryoshi
lied about how much SHIB they held. They stated how the SHIB
founder had, in their own words, claimed to hold “0 SHIB” as doing
otherwise could bring about a conflict of interest. Meanwhile, that
turned out to be a lie, as Ryoshi apparently holds over $1 billion
worth of SHIB. The founders have apparently gone to great lengths
to hide their holdings as they keep moving them across separate
wallets. In doing so, Shibburn believes that they have impeded the
ecosystem’s growth as some of these tokens are meant to be burnt.
Shibburn went as far as alleging that Ryoshi didn’t care about
SHIB’s development and was only out for themselves. Shiba Inu
Founders Only Out To Enrich Themselves As part of the
shocking revelations, Shibburn mentioned that Ryoshi may not be who
many think of them as. Instead, they are said to be a “group of
greedy investors” who are just looking to profit off the community.
To achieve this, SHIB is said to be their “golden goose,” which
they use as a means to enrich themselves. Besides Ryoshi,
SHIB’s lead developer, Shytoshi Kusama, was also caught up in the
mix. Shibburn accused the developer of not being a “real dev” and
suggested that Shytoshi was also out to make profits off the
community. One instance that they alluded to was how the developers
allegedly rewarded themselves with a “large amount of $BONE” when
ShibaSwap was created. Related Reading: AVAX Holders Beware: $204
Million Token Unlock Could Trigger Price Crash Today Shibburn
hinted that was the reason why BONE was made a gas token for
Shibarium, possibly in a bid to increase the token’s utility and
make it more valuable. Shytoshi has yet to respond to these
allegations neither has anything been posted on the official
announcements blog, where the developers are known to give regular
updates. Shiba Inu also seems unfazed by these allegations. At the
time of writing, the meme coin is trading at around $0.000008189,
up in the last 24 hours, according to data from
CoinMarketCap. SHIB price stalls as bulls vie for control |
Source: SHIBUSD on Tradingview.com Featured image from Coins.ph,
chart from Tradingview.com
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