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 mainly emphasized TRX's product-market fit (PMF) in stablecoin use cases, highlighting the network's pioneering status as a decentralized, fast, and cost-effective solution.
Notably, Kusama further stated that the Shibarmy 'will achieve the same (product-market fit) in different ways,' leading market observers to speculate on the upcoming launch of the TREAT token, which has drawn broader industry attention.
Shiba Inu's chief developer praises TRON's Justin Sun
In response to Justin Sun's X post on November 26, Shytoshi Kusama said, 'You inspired me greatly early on, and I am proud to see you achieve PMF in this field.' This statement mainly refers to TRON's native token TRX, which has achieved strong product-market fit in stablecoin use cases.
It is worth noting 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', TRX's market capitalization is only $17 billion. This data suggests that USDT based on TRX is more popular than USDT based on ETH, providing low-cost, fast stablecoin remittances in global trade.
Speculation on the issuance of the TREAT token
Justin Sun expressed great optimism when discussing this milestone achievement. Shiba Inu's chief developer Shytoshi Kusama further emphasized this achievement, suggesting that the SHIB ecosystem is also considering achieving the same PMF in different ways. This statement hints at the forthcoming achievements of dog-themed tokens and has sparked a series of discussions, as Kusama recently hinted at the launch of the TREAT token to further support the SHIB ecosystem.
Additionally, with the rising optimism brought about by the aforementioned developments, the TVL of the second-layer network Shibarium has soared significantly, increasing market enthusiasm for meme coins. Notably, the marketing head of meme cryptocurrency LUCIE recently revealed that Shibarium's TVL reached a historic high of $8.57 million. This data further consolidates the market's optimistic outlook on 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% during the day. Its 24-hour low and high are $0.00002436 and $0.0000264, respectively.
Nevertheless, the monthly chart for cryptocurrencies shows a rise of 48%. This broader bullish trend, combined with the aforementioned movements, keeps investors optimistic about future trends.
Moreover, CoinGape's recent analysis of Shiba Inu's price indicates that due to the continuous burning of the token, its supply is steadily decreasing, which is expected to lead to further price increases. Market observers remain optimistic, as the chain reaction in the fourth quarter continues to be favorable, followed by the latest developments in the ecosystem.
