SHIB Inventor Answers: Will the Shiba Inu Rise?

Shiba Inu’s (SHIB) lead developer, Shytoshi Kusama, replied to a comment on Twitter, “We want the Shib to rise.”

Here is the answer from the inventor of the SHIB to the bull-waiting user

A member of the Shiba community commented under Shytoshi Kusama’s comments below on Twitter. Minutes later, the answer came to the user who said, “We want the Shib to rise”. “This is why I work, sir,” said Shiba lead developer Shytoshi Kusama, hinting at new projects in development.

SHIB is currently trading around $0.001245 in a narrow range for the past two weeks. The meme token became one of the top-earning cryptocurrencies in 2021. It didn’t take much effort to reach the ATH level of $0.000088 in October 2021. However, in recent months, it has been trading at 85% discount from this level.

We can explain the impact of the market overall on the Shiba Inu based on its high correlation with Bitcoin. According to IntoTheBlock data, the Shiba Inu shows a 0.9 or 90% price correlation with Bitcoin. This suggests that, except for a divergence, price action is likely to be determined by the overall movement of the market.

Will the Shiba Inu rise?

This is a question no one can answer. Predicting price movements remains purely speculative due to the macroeconomic concerns plaguing the market. A clue to this is that most of the time an asset moves in the direction of the dominant short-term trend. However, investor sentiment and popularity are among the catalysts that push a cryptocurrency higher. Positive news and major publications also serve as positive catalysts for prices. An example of this was the Shiba Inu you followed on Kriptokoin.com, which rose by over 40% after the Robinhood list.

Also, voluntary token burn events are believed to have a positive effect on price. While questions about the SHIB price may remain unanswered in the short term, expectations for future Shiba Inu projects and applications remain. Shiba Inu lead developer Shytoshi Kusama tweeted that the Shiba Eternity game is ready for testing in Vietnam, noting that work is currently underway to fix the discovered bugs.

For those wondering what’s in Shiba Eternity, in an earlier tweet, game veteran and Shiba Inu games chief adviser William Volk shared a few examples of some of the great cards in the CCG game. Shiba Eternity is particularly important as it is a blockchain-based game that can be played on mobile.

Shytoshi Kusama had announced that Shiba Inu Game, soon called Shiba Eternity, will debut as a mobile game. The game will have tags such as NFT, metaverse and play-win. However, it will take some more time for the full version.