Meme-inspired cryptocurrency Shiba Inu has added over 30,000 new holders in the past 30 days, even as the price of the cryptocurrency plunges, even as the burn rate of SHIB has continued to rise climber.
According to data from Etherscan, Shiba Inu now have 1,169 million token holders on the Ethereum blockchainfrom around 1,134 million at the end of last month, as more Ethereum wallets added SHIB to their holdings.
The cryptocurrency added over 30,000 holders in a month even as its price plunges. According to market data, the price of SHIB has fallen 55% in the past 30 days as it has been affected by a broader sell-off in the cryptocurrency market exacerbated by the collapse of the Terra ecosystem.
New owners are joining the Shiba Inu community at a time when lead SHB developer Shytoshi Kusama has hinted that there will be an upcoming announcement that “make everyone tremble“.
For immediate release: #ShibArmy , we proudly welcome Marcie Jastrow to the SHIB Metaverse team. Marcie joins the Shiba Inu Metaverse team as an industry veteran with over 20 years of experience in the entertainment industry.
Find out more..https://t.co/qhjWH3DVbD
— Shib (@Shibtoken) May 23, 2022
The SHIB team recently revealed that entertainment industry veteran Marcie Jastrow has joined the metaverse team and will be working on the project, called “Shib: The Metaverse“. Jastrow has over 20 years of experience working in the entertainment industry and has been a “early pioneer of the immersive.”
Shytoshi Kusama has proposed in the past that the deal “would break the internet“, noting that many are unaware that it is happening right in front of them.
Earlier this week, Shiba Inu’s burn rate jumped 800% in one day to 12.6 billion tokens, after the cryptocurrency burn portal began distributing $RYOSHI rewards to those who burn chips.
The team behind the cryptocurrency launched the Combustion Portal on April 23, and between that date and the start of reward distribution, the SHIBarmy one burned about $29.5 billion SHIB. After the start of the reward distribution earlier this week, the figure has risen to 51.5 billion tokens at the time of writing.
Notably, the SHIB community has revealed through a series of polls that they favor token burning over their Metaverse as part of the project’s long-term strategy, presumably believing that a reducing the circulating supply of currency is more beneficial than its metaverse.
Cryptocurrency adoption has also declined, with a new collaboration between leading global restaurant software and payment solution provider Lavu and fintech payments company Verifone, which will enable thousands of restaurants in 65 countries to accept multiple cryptocurrencies as a method of payment, including SHIB.