According to U.Today, the dog-themed meme coin Shiba Inu has experienced a turbulent price run over the past few weeks. Despite predictions of a rally in June, the coin's historical bearish trend has persisted into July. The coin's inability to return to its March levels, when it traded at $0.00003592, has led to criticism from some investors.
Shytoshi Kusama, the leader of Shiba Inu, responded to a critic who described the SHIB team’s work as “lies that will be exposed.” Kusama emphasized that the team has detailed roadmaps outlining the issues and solutions but will not discuss timelines with the community. He assured that they are working in real time to resolve challenges facing the meme coin. Kusama urged investors and stakeholders to take a broader view of SHIB's achievements over the years and support the development team rather than criticize them.
While Kusama continues to call for patience and understanding, analysts note that investors remain concerned about the meme coin's price performance. The Shiba Inu community had anticipated a price rally after Lucie, the marketing head, announced that Kusama would speak on Aug. 13 at the 2024 Blockchain Futurist Conference. However, the bullish rally that occurred at a similar conference in 2023 did not happen this time. According to CoinMarketCap, Shiba Inu traded at $0.00001352 at the time of writing, a 2.19% drop in the past 24 hours.
