Shiba Inu Developer Launches New Dog-Themed Meme Coin SHIFU

Introducing SHIFU Coin with Exciting Airdrop for SHIB, BUBBLE, LEASH, and IO NFT Holders

The cryptocurrency world is abuzz with excitement as Shytoshi Kusama, the lead developer of Shiba Inu, unveils the latest sensation in the market – SHIFU, a brand new dog-themed meme coin. The announcement, made through social media, has sparked a frenzy among investors, eager to get in on the action.

Shytoshi fueled speculations of an upcoming airdrop with a cryptic “LFG” post, hinting at exciting developments on the horizon. Renowned crypto advocate Lark Davis further stoked the flames by revealing SHIFU as a “real meme coin” created by the Shiba Inu team.

SHIB Continues Strong Performance Amid SHIFU Hype

While SHIFU steals the spotlight, Shiba Inu maintains its bullish trajectory as one of the market’s top-performing tokens. With a nearly 4% price increase in intraday trading, SHIB is currently valued at $0.00003156, reflecting a 25% weekly gain and an impressive 80% monthly appreciation.

The token’s success can be attributed to ongoing token burns, reducing supply and increasing whale engagement. Recent community-driven token burns saw over 2 billion SHIB tokens incinerated in a single day, representing a staggering 144,223.06% surge in activity. Weekly burn rates soared by 1,995.88%, eliminating 4.25 billion tokens from circulation.

The Shiba Inu ecosystem’s rapid growth is evident in the addition of 7,548 new wallets, marking a substantial 214% increase compared to daily averages. Analysts credit this expansion to heightened community involvement and project developments.

U.S. Government Transfers Massive SHIB Token Holdings

In a separate development, a wallet linked to the U.S. government executed a transfer of 54 billion SHIB tokens valued at $1.5 million to a new Ethereum address. This strategic move, identified by blockchain analytics firm Arkham Intelligence, signals an intriguing shift in SHIB token ownership.

The U.S. government’s acquisition of these tokens stems from a larger asset forfeiture involving Alameda Research, a trading entity associated with the now-defunct FTX exchange. This seizure, part of a broader legal action against FTX and Alameda, saw over $700 million in assets confiscated, including SHIB tokens.