Shiba Inu leader, Shitoshi Kusama, explains why the price of $SHIB
has skyrocketed along with other well-known cryptocurrencies such as bitcoin and etherium.
Shiba Inu (#SHIB، ) has shown impressive growth over the past few days, pushing its price above $0.000027. This surge coincides with the strong gains registered by crypto assets such as bitcoin and etherium over the past week.
Shiba Inu, bitcoin and etherium are entering a massive rally
In particular, the world's largest cryptocurrency has surged, hitting new all-time highs (#ATH. ) on a daily basis. The main asset's current ATH is $81,858, recorded in the early hours of today. At $81,170, bitcoin is up 29.53% over the past month, 17.82% over the past seven days and 2.88% over the past 24 hours.
Similarly, Ethereum rose above the $3200 price level, as predicted by Bitfinex experts, after a seven-day rise of 27.25%. Interestingly, Shiba Inu has also recorded significant growth, following in the footsteps of Bitcoin and Ethereum.
Yesterday, Shiba Inu hit a five-month high of $0.00002785. Although the token experienced a small correction that raised its price to $0.00002511, Shiba Inu is still up 13.8% in 24 hours, 49.02% in one week, and 40.11% in the last month.
Why SHIB has rallied along with Bitcoin and Ethereum
After SHIB's remarkable rally, Shiba Inu leader Shitoshi Kusama addressed market watchers who are surprised that a memcoin like SHIB can rise alongside big “bois” (boys) like Bitcoin and Ethereum.
The shiba inu leader suggested that shiba inu's success is not due to its meme status or just hype, but to notable factors such as technology and innovative thinking.
Kusama will discuss the potential of shiba-inu in an upcoming podcast
He hinted at an upcoming campaign to educate the wider crypto community about the potential of Shiba Inu and showcase how he helped SHIB survive the bear market.
Part of this campaign will include him as a guest on a podcast where he will discuss the potential of the siba inu in detail, including its technology, resilience in a bear market, and strength.
His commentary suggests plans to educate crypto-enthusiasts about how siba-inu's technology and innovative thinking has contributed to SHIB's success, rather than the origins of the token meme.
He did not provide details about the date and time of the podcast. In the meantime, he encouraged members of the Shiba Inu community to keep an eye out for updates.
While Shiba Inu was originally launched as a meme token in August 2020, its ecosystem team has launched major projects to turn SHIB into a utility token. These include Shibarium, Shiba Eternity, Agent Shiboshi, SHIB: The Metaverse, ShibaSwap, and the upcoming privacy blockchain.
Despite SHIB's recent rise, the asset is still 44.2% lower from its peak price of $0.000045 recorded in March. However, as the market continues to react positively to the re-election of Donald Trump, who has promised to support fairer and clearer regulation, SHIB could surpass the $0.000045 mark, approaching its previous ATH record of $0.00008616.
