Coins such as Bitcoin, Ethereum, DOGE, which are the largest cryptocurrencies in the World Economic Forum (WEF), interestingly, Shiba Inu (SHIB). Here are the details…
World Economic Forum takes action for SHIB, not DOGE
Volunteer project leader and developer of Shiba Inu, known simply as ‘Shytoshi Kusama’, reported on social media that the World Economic Forum or DEF would like to work with the meme-based cryptocurrency in the global policy space. In a poll posted on Twitter on November 22, Kusama said the WEF had “kindly invited” the Shiba Inu project to collaborate on “MV global policy.”
We would be at the table with policy makers and would help shape global policy for the MV alongside other giants like FB (bye Zuck), Sand, Decentraland etc. And please don't ask my opinion, you already know.
— Shytoshi Kusama™ (@ShytoshiKusama) November 22, 2022
The Shiba Inu developer seemed to be referring to the policy in the metaverse. Crypto and Blockchain are sometimes discussed at WEF events. But the partnership with a popular meme token will apparently be a first for the organization. “Yes, I am serious,” said Kusama. He also used the following expressions:
We’ll be at the table with policymakers, and we’ll be at the table with FB (bye [Mark] Zuckerberg), The Sandbox, Decentraland, etc. Together with other giants, we will help shape global policy for MV.
Kusama’s followers approve of working with DEF
At the time of publication, more than 65% of the approximately 9,500 people surveyed by Kusama voted in favor of the Shiba Inu working with the DEF. Roughly 10 percent of respondents said it didn’t matter one way or another. Kusama has more than 861,000 Twitter followers. Meanwhile, the price of the Shiba Inu is up 7.2 percent, changing hands at $0.00000903. However, it has lost 80 percent of its value in the last 12 months.
What’s new in the SHIB ecosystem: Many new users
Shiba Inu (SHIB) has added more than 50,000 new owners to its blockchain, even during a cryptocurrency market crash triggered by the collapse of popular cryptocurrency trading platform FTX. According to data from CoinMarketCap and Etherscan, the number of unique addresses holding Shiba Inu on the Blockchain has increased from approximately 1.227 million a month ago to over 0.128 million at the time of this writing. The numbers show that SHIB is adding more than 1,500 new traders per day.
The number of SHIB holders is growing even at a time when the price of the meme-inspired cryptocurrency has plummeted along with other leading cryptocurrencies affected by the collapse of FTX, which hit investor confidence. Over the past 30 days, SHIB has dropped over 17 percent. Over the same period, the price of BTC fell roughly 17.7 percent, while the price of Ethereum (ETH), the second largest cryptocurrency by market capitalization, fell 16.2 percent. The total market cap of the cryptocurrency space has dropped over $120 billion over the same period.
Specifically, Shiba Inu investors showed that they do not plan to sell in bulk, as the average time that users on Coinbase hold the cryptocurrency before selling or moving it to an external address exceeds 200 days. On its page, the cryptocurrency exchange states that a long holding period “indicates an accumulation trend,” while a short holding period “indicates increasing movement of tokens.”
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