Shiba Inu (SHIB) has been a source of excitement for the community following an intense run over the past week. According to current market data, the digital currency is experiencing a price reversal, with the token decreasing by 3.56% in the last 24 hours to $0.00003782. Despite this recent dip, Shiba Inu’s value remains elevated, having surged by an impressive 243.83% over the past seven days.
The success story of Shiba Inu in March primarily hinges on the prevailing market buzz, fueled by Bitcoin reaching its all-time high (ATH). Another contributing factor is an ecosystem update for Shiba Inu, as highlighted by Shitoshi Kusama.
One of the recent updates includes projections from Kusama, indicating optimism for Shiba Inu. This expectation emerged after the price of Shiba Inu returned to the $0.00004 level, surpassing a market capitalization of $13 billion, making it the tenth largest cryptocurrency, surpassing AVAX.
Despite ongoing corrections, Shiba Inu has demonstrated resilience, maintaining its price above the $0.000035 level.
Future Outlook
Recent meetings and consultations with partners have revealed plans for a prominent service under the name Shib, set to be released soon. The primary developer of Shiba Inu aims to capitalize on the current growth to introduce new products that can complement this upward trajectory.
Read more Shiba Inu (SHIB) Experiences Significant Price Fluctuations on Coinbase
Shitoshi Kusama, during the week, announced the launch of the Shib Social Network Service (SNS) in partnership with D3. With the spotlight on Shiba Inu as it aims to replace Dogecoin (DOGE), Kusama remains optimistic that additional products and services may further boost the ongoing momentum of SHIB towards breaking new horizons.
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