Shiba Inu (SHIB), the popular meme coin, has been generating excitement within the community. This follows a cryptic response from Shiba Inu’s lead developer, Shytoshi Kusama, to a tweet suggesting an imminent price increase for SHIB.
Early Bitcoin Advocate Spotlights Shiba Inu
On April 23rd, Davinci Jeremie, a prominent figure in the Bitcoin community, sent a tweet specifically mentioning Shiba Inu. Jeremie’s message, directed at his over 600,000 followers, included an “eyes” emoji, hinting at the potential for a significant development related to SHIB. This caused speculation among Shiba Inu enthusiasts, with many anticipating a possible price rally.
Kusama’s reaction to Jeremie’s tweet further fueled the speculation. He responded with a GIF depicting a woman nodding in agreement. While the exact meaning remains undisclosed, many within the Shiba Inu community interpreted this as an indication of Kusama’s confidence in an upcoming price surge for SHIB.
— Shytoshi Kusama™ (@ShytoshiKusama) April 24, 2024
Recent Positive Developments for Shiba Inu
This speculation coincides with a period of positive developments for Shiba Inu. Despite a recent downturn in the broader cryptocurrency market, SHIB has experienced an 11.48% increase in price over the past week. At the time of writing, SHIB is currently trading at $0.00002543.
Several factors might be contributing to this positive performance. On April 24, prominent trading platform Robinhood announced that SHIB would become available for purchase by its New York customers. Additionally, crypto hardware wallet provider Tangem introduced SHIB as a payment option, allowing users to purchase their Tangem Wallet with SHIB.
Shibarium Ecosystem Secures Funding and Community Support
According to a report by Times Tabloid, the Shiba Inu team also recently announced securing $12 million in seed funding. These funds will be directed towards the development of a Layer-3 privacy blockchain solution on Shibarium. This ongoing development effort has garnered support from the community, further contributing to the positive sentiment surrounding SHIB.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Analyst Projects Ambitious Target for SHIB
Market analysts have also weighed in with optimistic predictions for SHIB. Earlier this week, well-known crypto investor Armando Pantoja projected that SHIB could reach a price of $0.001 within the current or next market cycle.
It’s important to note that achieving this target would require a significant price increase from SHIB’s current price. The substantial circulating supply of SHIB presents a challenge to reaching this specific target.
However, Shiba Inu has a history of exceeding expectations with its price movements. Even Ethereum co-founder Vitalik Buterin has acknowledged SHIB’s potential for surprising growth.
With the recent positive developments, Kusama’s cryptic response, and ongoing community support, the possibility of a price increase for SHIB in the near future cannot be entirely discounted.
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