Shiba Inu Soars 29% On SHI Stablecoin Update: Lead Developer Shytoshi Kusama Teases Breakout With Dragon Ball Meme — Burn Rate Soars 33818%

Shytoshi Kusama, the mysterious lead developer of the Shiba Inu SHIB/USD, shared a GIF, purportedly celebrating the breakout rally of the ecosystem's top cryptocurrencies.

What happened:  On Thursday, the pseudonymous lead posted a meme on X, showing Vegeta, a character in the popular anime series Dragon Ball, smirking after looking at a device.

The media possibly reflected Kusama's own sentiment after watching tokens like SHIB and Bone ShibaSwap BONE/USD rally sharply over the day.

SHIB, the ecosystem's biggest cryptocurrency by market capitalization, soared nearly 29% in the last 24 hours, rising to levels not seen since mid-June. 

The coin's trading volume more than tripled to $1.2 billion in the 24-hour period, 

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Additionally, BONE, the token widely used in decentralized exchange, ShibaSwap, and Layer-2 blockchain Shibarium, also bounced nearly 15%.

Why It Matters: The rally came after Shiba Inu's marketing lead, Lucie, teased details about the ecosystem's own stablecoin SHI, which was in the works.

First introduced by the project's founder, Ryoshi, in 2021, Lucie informed that SHI is a "crucial development" and its introduction was aimed at enhancing the features of Shibarium.