- To enhance understanding of Shiba Inu’s potential, Kusama announced a global tour, beginning in Kyoto and extending to India, Canada, and Thailand, aiming to connect with influential figures and explore the transition to Web3.
- Santiment reveals that Shiba Inu experienced a slight decoupling from other altcoins over the weekend, supported by the accumulation of non-exchange whales while exchange whale holdings decreased.
The lead developer of the Shiba Inu ecosystem Shytoshi Kusama recently compared the SHIB token to a wide-eyed puppy adding that this is just the beginning of its journey. Kusama drew this analogy during a recent conversation with a Maiko, an apprentice Geisha while visiting Kyoto.
Kusama was impressed by Maiko’s dedication to her craft. Becoming a Geisha is a years-long process requiring patience, discipline, and a relentless pursuit of mastery. Despite being early in her training, the Maiko has already earned respect and recognition.
@Shibtoken @treatsforShib @kaaldhairya A quick recap and forward marching orders. #India #Kyoto #IVS pic.twitter.com/Ba6bpOzKMi
— Shytoshi Kusama™ (@ShytoshiKusama) July 9, 2024
The Shiba Inu lead developer stated that many still don’t have a complete grasp of Shiba Inu’s history and core values. In order to address this lacuna, Kusama has announced a global tour along with the entire team of Shiba Inu.
The motive behind this tour is to connect with influential figures – celebrities, investors, and businesses – while exploring the transition of Web2 to the decentralized Internet of Web3. Kusama said:
We’ve made significant progress this past year, alongside developing a robust Shiba-themed technology stack. This tour will showcase our commitment to the ShibArmy [SHIB community] and the world.
The tour, which began in Kyoto, will take the team to India, Canada, and Thailand, aiming to enhance understanding of the Shiba Inu ecosystem’s potential, per the CNF report.
Shiba Inu Non-Exchange Wallets Are Accumulating
On-chain data provider Santiment has reported that Shiba Inu has experienced a slight decoupling from other altcoins during the last weekend. This upward trend is supported by the continued accumulation of non-exchange whales, while exchange whale holdings are decreasing, which is likely to please SHIB holders.
The sell-off in the first week of July has significantly contributed to the ongoing correction trend of Shiba Inu observed since June. From its last swing high of $0.0000294, the meme coin plummeted 57% to a four-month low of $0.0000125.
Amid a weekend relief rally, SHIB’s price rebounded by 27%, trading at $0.000016, while its market cap rose to $9.48 billion. Analysis of the daily chart reveals this reversal as forming a falling channel pattern.
Within this pattern, two parallel trendlines act as dynamic resistance and support, guiding a steady downtrend. A potential bullish reversal within the channel could lift the asset by 40%, challenging the overhead trendline.
Shiba Inu is likely to get a further boost as crypto exchange Coinbase said that it would be offering futures contracts for SHIB, per the CNF report.
Additionally, another good thing is that the burn rate for the SHIB coins has recently surged by 400% in the past two days. This puts a large number of Shiba Inu coins out of circulation, reported Crypto News Flash.
No spam, no lies, only insights. You can unsubscribe at any time.
Credit: Source link
