Shiba Inu’s enigmatic leader, Shytoshi Kusama, has explained why the price of SHIB has surged alongside other prominent cryptocurrencies such as Bitcoin and Ethereum.
Shiba Inu (SHIB) has experienced a remarkable surge in the past few days, pushing its price above $0.000027. This surge coincides with the strong gains seen in other crypto assets like Bitcoin and Ethereum over the past week.
Bitcoin, Ethereum, and Shiba Inu have all embarked on a massive rally. Bitcoin, in particular, has seen tremendous growth, reaching new all-time highs (ATH) on a daily basis. The current ATH for Bitcoin is $81,858, recorded earlier today. With a price of $81,170, Bitcoin has seen a 29.53% increase in the past month, 17.82% in the past seven days, and 2.88% in the past 24 hours.
Similarly, Ethereum has surged above the $3,200 price level, as predicted by Bitfinex experts, following a 27.25% increase over the past seven days. Interestingly, Shiba Inu has also recorded significant gains, following in the footsteps of Bitcoin and Ethereum.
Yesterday, Shiba Inu reached a five-month high of $0.00002785. Although the token has experienced a slight correction, bringing its price down to $0.00002511, Shiba Inu is still up 13.8% in the past 24 hours, 49.02% in the past week, and 40.11% in the past month.
Shytoshi Kusama, the leader of Shiba Inu, addressed observers who were surprised that a memecoin like SHIB could rally alongside established cryptocurrencies like Bitcoin and Ethereum. Kusama suggested that Shiba Inu’s success is not driven solely by its meme status or hype, but also by notable factors such as technology and innovative thinking.
Kusama hinted at an upcoming campaign to educate the wider crypto community about Shiba Inu’s potential and how it helped SHIB survive the bear market. As part of this campaign, he will be a guest on a podcast where he will discuss Shiba Inu’s potential, technology, resilience, and power in detail.
No specific details about the podcast’s date and time have been provided, but Kusama urged Shiba Inu community members to stay tuned for updates.
Despite initially launching as a memecoin in August 2020, Shiba Inu’s ecosystem team has introduced major projects to transform SHIB into a utility token. These projects include Shibarium, Shiba Eternity, Agent Shiboshi, SHIB: The Metaverse, ShibaSwap, and an upcoming privacy blockchain.
Although SHIB has seen recent gains, it is still down 44.2% from its peak price of $0.000045 in March. However, with the market responding positively to promises of fairer and clearer regulations under Donald Trump’s re-election, SHIB could surpass the $0.000045 mark and approach its previous ATH of $0.00008616.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.