Memecoins
Shiba Inu Lead Developer Shytoshi Kusama Sparks Excitement With Cryptic Middle East Post, Memecoin Rebounds 8%
June 5, 2024 1:39 a.m. | 2 minutes of reading
Shytoshi Kusama, the mysterious lead developer and co-founder of Shiba Inu (CRYPTO: SHIB), shared intriguing updates from his trip to the Middle East, sparking curiosity among memecoin fans.
What happened: On Tuesday, Kusama posted about his experiences in the Middle East, expressing his admiration for the culture and his relationships there. He wrote: “Leaving the Middle East, it was an incredible time meeting and understanding the culture of my cousins. »
The cryptic message, referencing “cousins” and the Arabic phrase “Inshallah”, meaning “God willing”, left the community intrigued, with many seeing it as a warm gesture to connect with the crypto community -currencies from the Middle East.
See also: Massive Shiba Inu Burn Raises Hopes for Price Recovery Despite Market Slowdown
The post hinted at potential partnerships with Middle Eastern policymakers, investment firms and cryptocurrency trading platforms.
Why is this important: Shytoshi Kusam has a habit of sharing cryptic messages hinting at potential developments.
Last month, he shared a cryptic teaser for “EVITA,” which was interpreted by many as an allusion to investments in Argentina.
Kusama’s message must also be considered in light of the growing popularity of memecoins in the region. Some of the richest people in Dubai, Qatar and Kuwait have expressed keen interest in trading and launching their own memecoins.
Meanwhile, the SHIB burn rate has dropped by almost 100% in the past 24 hours, according to to official burn monitoring.
Price Action: At the time of writing, SHIB was trading at $0.0000258, after an 8.42% rise in the last 24 hours, according to data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga Publishers.
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