SHIB Leader Kusama Supports Key Upcoming Shiba Inu Event, Generating Excitement Among SHIB Holders

Mysterious SHIB leader, known to the crypto community as Shytoshi Kusama, has captured the attention of the SHIB army with a tweet regarding the upcoming ShibaCon, an important blockchain conference organized by the team.

### ShibaCon Event Approaching

ShibaCon is set to take place in Bangkok, Thailand, running from November 5 to November 15. This event coincides with the annual DevCon gathering, which will occur from November 7 to November 17.

Prominent figures in the blockchain industry, covering areas such as DeFi, NFTs, Web3, and gaming, will be attending as keynote speakers and will engage in discussions on various significant topics. The event will also offer numerous networking opportunities for developers, influencers, and content creators to connect with like-minded individuals and share knowledge and experiences.

In response to Kusama’s tweet, the Shiba Inu community expressed excitement and anticipation for the event. However, some users voiced disappointment that tickets cannot be purchased with Shibarium tokens—SHIB, BONE, or LEASH—or via Shibarium.

### Shiba Inu Price Action

This week, SHIB, the second-largest meme cryptocurrency, experienced notable volatility. On Tuesday, its value dropped suddenly by over 12%, falling from $0.00001840 to $0.00001612. This significant decline affected SHIB primarily, with the broader cryptocurrency market following suit, as both Bitcoin and traditional stock markets faced pressure due to a negative shift in the geopolitical landscape in the Middle East.

However, there’s been a slight recovery for SHIB in the past 24 hours, with a rise of 4.7%, bringing its price to $0.00001688 at the time of writing.

On Tuesday, Bitcoin experienced a decline of approximately 5%, decreasing from the $63,900 range to $60,750. As of now, Bitcoin has partially regained its losses, increasing by 1.62% to $61,730.

### SHIB Burn Rate Declines

In the last 24 hours, a key metric for SHIB—the burn rate—has fallen below zero, currently at minus 92%. Since yesterday morning, only 800,000 SHIB were burned in a single transaction. In contrast, over 1,500,000 SHIB were burned the previous day, according to Shibburn statistics.