The cryptocurrency industry has witnessed the arrival of a number of meme coins. While some managed to make it big a few others faded away. Most of these assets were inspired by Dogecoin (DOGE) and the notable success of Shiba Inu (SHIB). Despite being fairly new to the market, SHIB managed to make its mark and is currently one of the most popular cryptocurrencies. The asset’s recent fall did not seem concerning for its bullish community. A majority of them were hoping to see the asset grow during the coming month.
Also Read: How Much Holding 1K & 5K Dogecoin Would Be Worth if DOGE Hits $2?
Shiba Inu Slips Below $0.00002
Shiba Inu was seen struggling in terms of price. It looks like the meme coin’s popularity wasn’t seen influencing its price. SHIB went from trading at a high of $0.00002 down to $0.00001743. This came as a massive blow to the community. After an 8% drop in price, Shiba Inu was trading at $0.00001837, during press time.
Amidst the slowdown in SHIB’s price, the lead developer of the network declared he was leaving his position. “I will no longer be the lead visionary” of the meme coin project, Shytoshi Kusama said in a recent tweet. The developer gave an explanation for his choice, saying that his project requires “something different” rather than any more vision. This, however, doesn’t mean that Kusama will no longer be part of the project. He announced that he would take over as the lead ambassador of the network instead.
SHORT FAREWELL
For this reason, and I will no longer be the lead visionary of Shiba Inu. Why? Simply put, there is no more vision needed, only execution and communications. What’s needed is something different. What’s needed is that I, one of the few who can truly, and… pic.twitter.com/WkhkBedU8l— Shytoshi Kusama™ (@ShytoshiKusama) January 26, 2025
Also Read: OpenAI Faces Major Copyright Battle: Adani (NDTV) & Ambani (Network18) Join Lawsuit
February Prediction
According to CoinCodex, Shiba Inu is expected to commence the month of February on a bullish note. The meme coin will trade at a high of $0.00003048 on the first day of the month. This further marks a 66% uptick from its current price level. SHIB is clearly turning over a new chapter during the coming month.
Also Read: Shiba Inu: Just $41 Worth Of SHIB Becomes $1 Million Today
Credit: Source link
