What’s the Next Move for SHIB Price According to Lead Developer?
You’ve probably been following the recent launch of Shibarium, a layer two scaling solution within the Shiba Inu (SHIB) ecosystem. Now, the meme cryptocurrency community is buzzing with excitement about the token’s growth potential. However, Shytoshi Kusama, the lead developer of Shiba Inu, has recently emphasized the importance of increasing adoption for the meme coin’s success. In a Telegram group dedicated to Shiba Inu enthusiasts, Kusama discussed the role of token burns in the SHIB ecosystem.
Kusama made it clear that while token burns are significant, they shouldn’t be the sole catalyst for enhancing the value of SHIB. He stated, “Burns will not and are not the end all be all. We absolutely must increase adoption. But burn portal is in the works.” So, it’s clear that widespread adoption is key to SHIB’s future. Token burns alone won’t determine its fate.
This statement has caught the attention of SHIB investors who were relying on token burns to boost the meme coin’s price. Kusama’s remarks highlight that the true potential of SHIB lies in adoption. The Shiba Inu ecosystem has been working on enhancing the token’s utility, including its applications in payments. And despite some initial challenges, the Shibarium upgrade has the potential to bring about transformative changes within the SHIB token ecosystem.
It’s important to note that the value of SHIB is still influenced by market sentiment. As of now, SHIB is valued at $0.0000075, reflecting a weekly loss of over 7%. The meme coin has support at $0.00000709, with $0.00000801 as its resistance level.
Hot Take:
The future success of SHIB depends on increasing adoption, not just token burns. Token burns are important, but they’re not the only factor that determines the value of SHIB. The Shiba Inu ecosystem has been working hard to enhance the token’s utility, and the Shibarium upgrade has the potential to bring about transformative changes. So, keep an eye on the broader market sentiment and the progress of adoption within the SHIB community to gauge the future trajectory of SHIB’s price.
By
By
By
By
By