SHIB Lead Kusama Endorses Major ShibaCon Conference in Thailand

• ShibaCon 2024 will take place in Bangkok from November 5-15, coinciding with the DevCon event.
• The SHIB community reacted with enthusiasm to Kusama’s promotion, despite concerns over ticket payments.
• SHIB saw a 12% drop this week due to market volatility, with a slight recovery over the past 24 hours.

ShibaCon 2024, a highly anticipated event in the blockchain space, is scheduled to take place from November 5 to November 15 in Bangkok, Thailand. This week-long conference will run alongside DevCon, another prominent blockchain event happening in the city during the same period. Shytoshi Kusama, the anonymous leader of the Shiba Inu project, recently took to social media to drum up excitement for the upcoming ShibaCon, catching the attention of the SHIB community.

ShibaCon 2024: A Key Event for the Blockchain Community

ShibaCon 2024 will gather some of the most influential voices in the blockchain industry, spanning areas like DeFi, NFTs, Web3, and gaming. Keynote speakers from these sectors are expected to lead discussions on critical trends and advancements in the blockchain ecosystem. The event also provides a valuable opportunity for networking among developers, influencers, and content creators. Attendees will have the chance to exchange ideas and insights, fostering collaboration and innovation across the space.

SHIB Community’s Excitement Grows

In response to Kusama’s tweet promoting ShibaCon, the Shiba Inu community expressed excitement, eager for the event to begin. However, some users voiced disappointment over the inability to purchase tickets using SHIB-related tokens like SHIB, BONE, or LEASH. Despite this, the community remains enthusiastic about the opportunity to engage with leading figures in the blockchain industry and discuss the future of decentralized finance and digital assets.

This week has also been notable for significant price volatility in the cryptocurrency market. SHIB, the second-largest meme cryptocurrency, experienced a sharp decline of over 12%, falling from $0.00001840 to $0.00001612. This drop followed a broader market downturn triggered by geopolitical tensions in the Middle East, which also impacted Bitcoin and other digital assets. Despite this, SHIB has shown some recovery, rising by 4.7% over the past 24 hours and currently trading at $0.00001688.

SHIB Burn Rate Declines Significantly

Additionally, the SHIB burn rate has seen a substantial drop, with only 800,000 SHIB tokens burned in the last 24 hours, compared to 1.5 million the day before. The burn rate is a key metric for the SHIB community as it reflects efforts to reduce the circulating supply, which is expected to positively impact SHIB’s long-term value.