Shiba Inu (SHIB), a popular meme-based altcoin, has experienced a very notable price surge in the last 24 hours. The asset is in the middle of a rally that has driven prices up by 14.40% at press time.
The marketing lead of SHIB, ‘Lucie’, revealed that a stablecoin for the Shibarium ecosystem was in the works in an X post earlier today.
Over $1 billion in market cap added to SHIB
The market reacted to the announcement quite positively — the 14.40% increase in price corresponds to just a little over $1 billion added to SHIB’s market cap in 24 hours.
Although ‘Lucie’ did not share details regarding the launch date of the stablecoin, it is currently under development and “undergoing rigorous testing”. The idea is to peg the coin at $0.01, although the specific mechanism through which this will be achieved has not yet been revealed.
Although the specifics remain an open question, and the matter of the increasing regulatory oversight of stablecoins would have to be addressed, there’s little doubt that this increase in price is more material than one that occurs, say, due to a billionaire’s X post.
Future prospects for Shiba Inu
Should the development and adoption go successfully, there’s little doubt that the Shibarium ecosystem will be much improved.
Enhanced liquidity for SHIB would be a likely benefit, while the stablecoin would elevate what is still essentially a memecoin into a much more functional part of the increasingly competitive DeFi space that can facilitate a wide range of financial services.
SHIB price daily chart. Source: Finbold
Apart from this notable increase, SHIB is up 21.61% on the weekly chart, 19.29% on the monthly chart, and 65.94% year-to-date (YTD).
Even before this announcement, both ChatGPT’s advanced 4o model and analysts such as Alan Santana projected significant increases in price in 2025.
Whereas the AI model opined that a major technological development coupled with a bull market could see SHIB reaching $0.01 in 5 to 10 years, Santana outlined a chart detailing a path to a new all-time high of $0.00023179, which would equate to an increase of 1,640.16% compared to SHIB’s price at press time.
For the time being, Shiba Inu is likely to remain significantly in the green — although impossible to time and predict, traders would be wise to keep track of any announcements made regarding the upcoming stablecoin.