Shiba Inu's Collaboration with World Economic Forum

Shiba Inu and the World Economic Forum Collaboration

Shiba Inu's (SHIB) main developer, Shytoshi Kusama, recently announced a potential collaboration with the World Economic Forum (WEF) to help shape global policies on the metaverse. This proposal has sparked significant interest within the SHIB Army community. A Twitter poll was initiated to gauge the community's stance, with 62.7% supporting the collaboration, while 27.2% opposed it. The poll remains open for further votes, coinciding with the WEF's annual meeting scheduled for early 2023 in Geneva, Switzerland.

Surging Trading Volumes and Market Impact

In light of this announcement, SHIB's trading volume experienced an unprecedented increase, reportedly soaring by 7,000,000% according to CoinMarketCap data. Centralized exchanges witnessed over $13 trillion in SHIB token transfers within 24 hours, while decentralized platforms also saw substantial activity with $4.7 million transferred. This surge is partly attributed to Ethereum (ETH) Whales acquiring large quantities of SHIB, prompted by the memecoin's declining market price in recent weeks.

Burn Rate and Market Price Dynamics

The significant news from Shiba Inu's leadership has also led to a dramatic rise in its burn rate, increasing by 1081% within 24 hours. This resulted in the burning of 136 million SHIB coins as the community aims to enhance its market value. Despite these efforts, SHIB remains below the $0.00001 resistance level, currently priced at $0.00000901 with an 8.9% daily gain.

SHIB's Active Community and Future Outlook

The SHIB Army is recognized as one of the most active cryptocurrency communities on social media platforms like Twitter and Discord. Known for leading altcoin rebound races, the community's involvement in shaping metaverse policies could further influence SHIB's market trajectory. As the collaboration with WEF unfolds, the SHIB Army continues to monitor and influence Shiba Inu's position in the crypto market.