Shiba Inu (SHIB) has been a great delight to the community after an intense demonstration over the past week. By According to current market data, the digital currency is experiencing a reversal in its price as the token is down 3.56% in the last 24 hours to $0.00003782. Despite this sell-off, Shiba Inu is still up 243.83% over the last seven days.
Shiba Inu (SHIB) has been a great delight to the community after an intense demonstration over the past week. By According to current market data, the digital currency is experiencing a reversal in its price as the token is down 3.56% in the last 24 hours to $0.00003782. Despite this sell-off, Shiba Inu is still up 243.83% over the last seven days.
Shiba Inu’s success story so far in March is largely based on the general hype in the mainstream market, fueled by the rise in the price of Bitcoin to an all-time high (ATH). Secondly is the update of the Shiba Inu ecosystem, as Shytoshi Kusama announced.
One of the latest updates features a projection from Kusama, in which he noted that Shiba Inu’s valuation could exceed $100 billion in the long term. This projection came following the return of the Shiba Inu price to the $0.00004 level, with its market capitalization exceeding $13 billion. The rebound in Shiba Inu’s market value has helped it displace Avalanche (AVAX) as the 10th largest cryptocurrency.
Despite the ongoing correction, Shiba Inu resistance is showing, with the price holding steady above the $0.000035 level.
Future expectations
Taking to his official X account, Shytoshi Kusama noted who has been in meetings and consultations with partners about a notable Shib-themed service that is set to launch soon.
The leading Shiba Inu developer aims to capitalize on the growth of Shiba Inu right now to bring new products that can complement the rebound. During the week, Shytoshi Kusama announced the launch of Shib Name Service (SNS) in partnership with D3.
With the spotlight now on Shiba Inu looking to displace Dogecoin (DOGE), Kusama is optimistic that more of these products and services could help solidify SHIB’s current momentum to new heights.
