In the speculation surrounding the launch of TREAT, Shiba Inu's chief developer Shytoshi Kusama expressed admiration for TRON's Justin Sun, commending the blockchain for its milestone achievements.
Shiba Inu's chief developer Shytoshi Kusama praised TRON's Justin Sun on Tuesday, commending the recent milestone achievements of the blockchain. The chief developer particularly emphasized the product-market fit (PMF) of TRX in stablecoin use cases, highlighting the network's pioneering position as a decentralized, fast, and affordable solution.
It is noteworthy that Kusama further stated that the Shibarmy 'will achieve the same (product-market fit) in different ways,' leading market observers to speculate that the broader industry is keenly watching the upcoming TREAT token launch.
Shiba Inu's chief developer praised TRON's Justin Sun.
In response to Justin Sun's X post on November 26, Shytoshi Kusama stated, 'You inspired me greatly early on, and I am proud to see you achieve PMF in this space.' This statement mainly refers to TRON's native token TRX, which has achieved strong product-market fit in stablecoin use cases.
It is noteworthy that the TRON blockchain handles 92% of USDT transactions and hosts $60 billion in USDT. However, according to CryptoQuant CEO Ki Young Ju's Alt account 'Kate The Alt', the market cap of TRX is only $17 billion. This data suggests that USDT based on TRX is more popular than USDT based on ETH, providing low-cost and fast stablecoin remittances in global trade.
Speculation on TREAT token issuance.
Justin Sun expressed great optimism when discussing this milestone achievement. Shiba Inu's chief developer Shytoshi Kusama further emphasized this achievement, hinting that the SHIB ecosystem is also considering achieving the same PMF in different ways. This statement suggests that dog-themed tokens are about to achieve significant milestones, sparking a series of discussions, as Kusama recently hinted at launching the TREAT token to further support the SHIB ecosystem.
Furthermore, as the optimistic sentiment from the above developments continues to rise, the TVL of the second-layer network Shibarium has surged significantly, increasing market enthusiasm for meme coins. Notably, LUCIE, the marketing head of meme cryptocurrencies, recently revealed that Shibarium's TVL reached a historic high of $8.57 million. This data further solidifies the market's optimistic attitude towards the token's future.
Will the price of SHIB rise with the recent developments?
Against the backdrop of a bullish market in the fourth quarter, cryptocurrency observers are closely watching dog-themed meme tokens. However, the price of SHIB is $0.00002529, down 1% intraday. Its 24-hour low and high are $0.00002436 and $0.0000264, respectively.
Nevertheless, the monthly chart of cryptocurrency shows an increase of 48%. This broader bullish trend, combined with the above trends, keeps investors optimistic about future movements.
Additionally, CoinGape's recent analysis of Shiba Inu's price indicates that due to continuous token burns, its supply is decreasing, and the token is expected to rise further. Market observers remain optimistic, as the chain reaction in the fourth quarter is still favorable, followed by the latest developments in the ecosystem.
