Kusama’s announcement of ShibaCon in Bangkok sends a wave of excitement through the Shiba Inu community. Despite the thrill, SHIB prices took a sharp 12% dive this week, leaving holders on edge amid market volatility.

Shiba Inu’s Kusama Announces ShibaCon in Bangkok

In a tweet announcing the upcoming ShibaCon, a significant blockchain conference put on by the Shiba Inu team, the mysterious SHIB leader known as Shytoshi Kusama has captured the interest of the SHIB army.

From November 5th through the 15th, ShibaCon will be held in Bangkok, Thailand. It will be just over a week long. It is scheduled to occur between November 7th and the 17th, at the same time as the yearly DevCon convention in Bangkok.

SHIB Community Excitement Grows for ShibaCon

The event will be graced by the presence of many prominent figures from the blockchain sector, including DeFi and NFTs, Web3, and gaming, who will be speaking as keynote speakers and moderating significant panel discussions. For developers, influencers, content providers, etc., there will be plenty of networking opportunities to meet other people in the industry and share ideas and insights.

Comments on Kusama's post were filled with excitement from the Shiba Inu community, who were eagerly awaiting the event's commencement. Not everyone is happy that you can't use Shibarium tokens (SHIB, BONE, or LEASH) to purchase tickets directly from the platform.

SHIB Price Drops Amid Market Volatility

Volatility was strong this week for SHIB, the second-biggest meme cryptocurrency. It fell from $0.00001840 to the $0.00001612 level on Tuesday, a precipitous decline of over 12%. When Bitcoin's value plummeted, the entire cryptocurrency market did the same. This week's unfavorable turn in the geopolitical situation in the Middle East had a significant impact on Bitcoin and the stock market.

This item is currently trading at $0.00001688, reflecting a little improvement for SHIB over the past 24 hours, during which it has staged a 4.7% climb.

Bitcoin Follows SHIB with a Steep Decline

After trading as high as $63,900 on Tuesday, Bitcoin plummeted to $60,750, a 5% loss. The world's most prominent cryptocurrency has partially recouped its losses by increasing its value by 1.62% to its current trading level of $61,730.

SHIB Burn Rate Takes a Sudden Drop

According to U.Today, one of the most important SHIB metrics—the burn rate—has dropped below zero within the past 24 hours and is currently showing -92%.

Only 800,000 SHIB have been burned thus far since yesterday morning by the SHIB community. According to Shibburn, about 1,500,000 SHIB were burned yesterday.