The SHIB price has dropped by 2.5% in the past 24 hours, falling to $0.00001649 after lead developer Shytoshi Kusama hinted that he may step away from the meme token in the future.
Shiba Inu has now lost 3.5% in the past week and 28% in the last 30 days, although the coin holds onto 116% in the past year.
Yet the news that Kusama “will step away from the limelight eventually” may come as a blow to long-term SHIB holders, given how pivotal the developer has been for Shiba Inu’s growth.
However, such a ‘stepping away’ won’t happen until the meme token achieves its long-term development goals, at which point it should be a much stronger investment prospect.
Shiba Inu Developer Shytoshi Kusama Plans to Leave: SHIB Price Prediction
One positive is that SHIB has actually lifted a little in the past hour, with its indicators now beginning to signal an improvement in momentum.
Its 30-day moving average (orange), for example, has just risen above the 200-day average (blue), which could signal an incoming breakout.
Source: TradingViewAt the same time, SHIB’s relative strength index (purple) has risen from 30 yesterday to almost 60 today, a sign of rising buying pressure.
The market has been going through quite a turbulent phase over the past couple of weeks, as it braces itself for the possibility of a mass selloff coming from Mt. Gox creditors and the German government.
Yet SHIB’s trading volume has begun to climb over the past few days, from around $100 million at the end of June to $400 million as of writing.
This is a modest gain, yet it nonetheless indicates that buyers are taking the opportunity to buy the dip.
Of course, the past 24 hours have seen some partially negative news for Shiba Inu, in that its most high-profile developer, the pseudonymous Shytoshi Kusama, has suggested that he will withdraw from his current position at some unspecified point in the future.
@Shibtoken @treatsforShib @kaaldhairya A quick recap and forward marching orders. #India #Kyoto #IVS pic.twitter.com/Ba6bpOzKMi
— Shytoshi Kusama (@ShytoshiKusama) July 9, 2024
Reading the above post, it becomes clear that Kusama won’t do this until the SHIB team reaches “the completion of the entirety of [Shiba Inu founder] Ryoshi’s plan for a decentralized system.”
Such a completion may be years away, while even if he does step away from “the limelight”, this doesn’t necessarily mean that Kusama will become completely uninvolved in SHIB’s operations.
As such, the future continues to look bright for the SHIB price, which could reach $0.00002 in the next few weeks and $0.00004 by Q4.
New SHIB Tokens for New Gains
While Shiba Inu is likely to remain a major meme coin for the foreseeable future, newer alternatives have been appearing in recent weeks, with the best likely to enjoy big rallies.
One of these is Shiba Shootout (SHIBASHOOT), a new Ethereum-based coin that has recently opened its presale.
Also running on BNB Chain, SHIBASHOOT has already raised just over $500,000, a promising early sign of its future growth.
Welcome to #Shiba Gulch, the heart of the Wild West crypto frontier!
Join Shiba fans for challenges, memes, and thrilling Shootouts.
Join us at https://t.co/jCeu7XN9gp pic.twitter.com/RLhyuJsgzY
— shibashootout (@shibashootout) June 8, 2024
The coin is an interesting addition to the meme token ecosystem, combining tried-and-tested Shiba Inu memes with Wild West motifs.
Accordingly, it will develop a community based on shared participation in various mini-games and contests, including poker tournaments and virtual treasure hunts.
The idea of such games is to provide a focal point for community building, so that SHIBASHOOT can grow a vibrant network of supporters and holders.
As a token, it will have a max supply of 2.2 billion SHIBASHOOT, with its presale receiving 35% of this supply.
20% will also go to staking, with holders able to earn a steady passive income by locking up their tokens.
This should incentivize greater ownership, while Shiba Shootout also offers a few other incentives to hold its token.
These include regular lotteries, special savings wallets, and governance votes.
Taken together, this provides SHIBASHOOT with plenty of utility, and given how popular meme coins have been this year, it could go on to do big things.
Investors can join its sale by going to the official Shiba Shootout website, where 1 SHIBASHOOT token costs $0.0195.
Buy SHIBASHOOT Now
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