Shytoshi Kusama, the lead developer of Shiba Inu, has responded cryptically to a recent post about the cryptocurrency. In the post, Davinci Jeremie, an early Bitcoin advocate, drew attention to Shiba Inu and hinted at something significant happening with the token. Jeremie used the eyes emoji in his tweet to signal to his over 602,000 followers to keep a close eye on Shiba Inu for a potential rally.
This tweet from Jeremie sparked reactions among Shiba Inu enthusiasts, including Kusama, who joined other proponents of SHIB in responding. Kusama’s response was cryptic, using a gif to convey agreement with Jeremie’s speculation about Shiba Inu. This suggests that Kusama is confident that a rally for the token is imminent.
Despite the broader market experiencing a significant downturn in crypto prices, Shiba Inu has performed remarkably well in the past week. As a result, its price has surged by 12.3% in the weekly charts. At the time of writing, Shiba Inu was being traded at $0.00002543, after recording a 1.2% increase in the past day.
While no specific event can be attributed to this price gain, Shiba Inu has received positive attention recently. Robinhood, a prominent trading platform, made Shiba Inu available to its customers in New York. Additionally, Tangem, a crypto hardware wallet provider, added Shiba Inu as a payment option. BitMart, a leading crypto exchange, also introduced a 30% discount for SHIB purchases. Furthermore, the team behind Shiba Inu disclosed that they had raised $12 million in seed funding to build a privacy blockchain on Shibarium.
Market experts have also made favorable predictions for Shiba Inu in the 2024/2025 market cycle. Armando Pantoja, a well-known crypto investor, projected that Shiba Inu’s price could reach $0.001 this year or the next. However, achieving this target would require SHIB to spike by 3,832% from its current price, which is a challenging task given its circulating supply.
Despite the challenges, Shiba Inu has surprised investors with its price movements in the past, as acknowledged by Ethereum co-founder Vitalik Buterin. It’s important to note that this article provides information and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions.