Shiba Inu Coin (SHIB) price rises by more than 40%, Shytoshi Kusama Reveals Why

Bittime - Shiba Inu price rises over 40%, Shytoshi Kusama reveals why. The price of Shiba Inu (SHIB) has experienced a significant spike in recent days, increasing by more than 40% to reach a new five-month high of $0.00002785 (equivalent to Rp0.43).

This increase coincides with the upward trend in other major cryptocurrencies such as Bitcoin and Ethereum, which have also recorded strong gains in the past week.

Read also SHIBA INU (SHIB) Price

Shiba Inu follows the rise in Bitcoin and Ethereum prices

Shiba Inu's price increase is in line with the market rally experienced by other major crypto assets.

Bitcoin recently set an all-time record high price (ATH) of $81,858, while Ethereum gained more than 27% in the last seven days, reaching a price level of $3,200.

Shiba Inu has followed in the footsteps of these two assets, with its price surge making it one of the best performing altcoins.

In the last 24 hours, the price of SHIB still recorded a mild correction to $0.00002511 (around Rp0.39), but still showed an increase of 13.8% in a day, 49.02% in a week, and 40.11% in the last month.

SHIB to IDR via Bittime Market

Also read How to Buy Shiba Inu (SHIB)

Shytoshi Kusama: Technology and Innovation are the Main Factors

Shiba Inu community leader Shytoshi Kusama said that SHIB's success is not only due to its status as a meme token. Kusama emphasized that the technology and innovative thinking applied in the development of Shiba Inu have also been key in maintaining SHIB's appeal and strength in the crypto market.

Also read SHIB Token: Here's What You Should Know About Shiba Inu's Burn Rate of 3,700%

Kusama revealed plans to introduce an educational campaign to help the crypto community further understand Shiba Inu's potential.

In this campaign,

Kusama will be a guest on a podcast to discuss how Shiba Inu has been able to survive the fluctuating market and highlight the innovation and technology behind its ecosystem.

Shiba Inu's Major Projects: Shibarium, ShibaSwap, and More

Since its launch in August 2020 as a meme token, the Shiba Inu team has been expanding its projects to add value to the token.

Some of the key projects that have been and are being developed include Shibarium (Layer 2 blockchain), Shiba Eternity, Agent Shiboshi, SHIB: The Metaverse, and ShibaSwap.

Also read Shiba Inu Price Prediction: Soaring 16%, This Meme Coin Following a New Trend?

They are even developing a privacy blockchain to enhance transaction security within the SHIB ecosystem.

Although SHIB has seen a massive increase, the token is still about 44.2% below the highest price it ever reached at $0.000045 last March.

However, optimism among investors remains high, especially after the announcement of pro-crypto policies from the US president-elect who promised to support fairer regulation.

Future Predictions for SHIB Coin Price

With new projects planned and support from a growing community, many expect Shiba Inu to reach its previous ATH of $0.00008616 and possibly beyond.

Read also SHIB's potential to reach $0.01, what does Shytoshi Kusama say?

The success of this will certainly depend on how the crypto market as a whole responds to the technological developments and innovations behind Shiba Inu.

Reference:

*https://app.binance.com/uni-qr/cart/16103241892025?l=en&r=376214424&uc=web_square_share_link&us=copylink*

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