Dimitar Dzhondzhorov
What’s Coming to Shiba Inu (SHIB)? Lead Dev Hints at Major Release
TL;DR
- Shiba Inu’s team hints at new advancements associated with the meme coin, sparking community speculation.
- SHIB’s price surged 300% in the past month, highlighting the token’s volatility amidst a broader crypto market rally.
What’s Coming Next for SHIB?
Shytoshi Kusama, the lead developer of Shiba Inu, said the team behind the popular meme coin has been busy recently, participating in meetings and “talking to the other side of the world” regarding the introduction of a SHIB-related product or service.
While they sleep… we’re up, in meetings, talking to the other side of the world for the upcoming announcement and release of an important #Shib themed service/product.
Crypto doesn’t, sleep we just FG! pic.twitter.com/Z3lxTg4Wkc
— Shytoshi Kusama
(@ShytoshiKusama) March 6, 2024
(@ShytoshiKusama) March 6, 2024Numerous X users cheered the upcoming release, contemplating what could be on the horizon. Some assumed the riddle might stand behind an upgrade of Shiba Inu’s burning program.
The process is rather complicated and includes manual and automated burns. The team behind Shiba Inu and Shibarium aims to simplify it and recently introduced “a transformative token mechanism” to automate the entire system.
Others suggested the upcoming development could be linked to Shibarium. The latter is a layer-2 blockchain solution designed to foster the advancement of the Shiba Inu ecosystem by reducing transaction fees and improving speed. Earlier this week, total blocks on the L2 solution surged above 3.5 million, whereas total transactions are just shy of the 400 million milestone.
SHIB’s Impressive Rally
One can not talk about Shiba Inu without mentioning its rapid price increase as of late. The token’s valuation is up approximately 300% in the past month, while its market capitalization briefly exceeded $25 billion (currently hovering the $20 billion mark).
SHIB’s latest resurgence coincided with a broader revival of the crypto sector, with Bitcoin (BTC) hitting a new all-time high of over $69,000 earlier this week. It also aligns with a frenzy surrounding the meme coin niche.
Assets of that type, including dogwifhat (WIF), Bonk Inu (BONK), Pepe Coin (PEPE), Floki Inu (FLOKI), and many more have charted triple-digit gains on a two-week scale and saw their market caps soaring into the billions.
Despite the chance of making substantial profits, dealing with meme coins can also lead to crucial losses due to the cohort’s infamous volatility. Take a look at our latest video to check the most common mistakes that successful traders need to avoid when entering the ecosystem:
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