- Shiba Inu (SHIB) lead developer Shytoshi Kusama discloses the possibility of SHIB hitting $0.5; however, he believes that the asset could grab the attention of the broad market before this significant move.
- An analyst has hinted that SHIB could be ending its correction phase soon as it successfully holds its position above a crucial support level.
Shiba Inu’s (SHIB) lead developer, Shytoshi Kusama, has stated that the asset could grab the attention of investors and critics before making a surprising run to $0.50. According to reports, his statement was a direct response to investor Maserati Cam, who claims that he would only pay attention to the asset when it hits $0.5.
We will grab your attention way before then fren— Shytoshi Kusama™ (@ShytoshiKusama) January 17, 2025
Meanwhile, SHIB was trading at $0.00002051 at press time after surging by 3.5% in the last 24 hours. This implies that the asset would have to make a staggering surge of 2,217,195% to hit this level.
Looking at its historical movements, this percentage of growth is not far-fetched as SHIB once surged by 150,000,000% from an all-time low to reach an all-time high. In fact, SHIB and DOGE have been tipped to lead the broad market rally that may be triggered by the rising sentiment around the inauguration of Donald Trump, as outlined in our recent blog post.
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Speaking on the overall growth of the ecosystem and the effort of the team, the founder of Arcadia, identified as Mickey, described Shytoshi and the team as the “gold standard for meme teams.” According to him, the team would “soon shake” the industry with some of the things in the pipeline.
Can say that I’ve spoken withShytoshi Kusama and the Shib team. They are the gold standard for meme teams. Some of the stuff they will announce soon is genuinely groundbreaking and will shake up the space. I’m already seeing some rumours…Bravo.
Shiba Inu (SHIB) On-chain Activities and Price Prediction
Recently, Shiba Inu’s layer 2 solution, Shibarium, was reported to have reached a historic milestone after hitting 700 million transactions. According to the report, the total number of wallet addresses has also crossed 1,889,804, with an average daily transaction of 4.7 million. Following this update, the team announced that they have launched the Shibarium Token Asset Repository to boost token visibility in the ecosystem.
The Shiba Inu growth potential has been evident in its on-chain activities as whale wallets acquire 565 trillion SHIB tokens. Fascinatingly, this makes up almost 57% of the circulating supply, as reviewed in our recent article.
Subjecting the price to critical analysis, an analyst identified as Real CryptoRoy has highlighted that the price action on January 13 was very crucial. At that time, Bitcoin declined to $89k to create a new yearly low; however, SHIB successfully held its position as it only declined to $0.00001978 before taking a rebound to above $0.000021.
Throwing more light on this, the analyst highlighted that the ability of the asset to stay above a key support level indicates that its correction phase is almost ending. According to him, the $0.000025 level appears as the current resistance point.
A break above this point could send the price to $0.000033 in a short time. Meanwhile, he advised investors to monitor the dominance of Bitcoin for any market shift closely. Fascinatingly, this aligns with our recent update which estimates that SHIB could reach $1 trillion in valuation.
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