Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot

Christian Encila

Last Updated: November 11, 2024 10:30 am

3 mins read

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A meme coin developer is pushing for an ambitious plan of establishing a new American metropolis, similar to Silicon Valley, that is designed solely for the blockchain industry. Shiba Inu creator Shytoshi Kusama is urging the Donald Trump administration to consider the idea of a hub devoted to blockchain innovators and entrepreneurs.

Shiba Inu City: An Ambitious Plan

In a post, Kusama puts forward his audacious proposal to create the blockchain version of Silicon Valley to allow the blockchain ecosystem to thrive.

Kusama called the new city the Strategic Hub for Innovation in Blockchain (S.H.I.B), which he claimed is aligned with Trump’s vision of establishing new technology-centered American cities.

Well, would you look at that. Guess my S.H.I.B. proposal was ahead of its time… BY LESS THAN A WEEK. ICYMI https://t.co/pjUBcjgZJ3
A thread🧵 https://t.co/p8wRKhxThh

— Shytoshi Kusama™ (@ShytoshiKusama) November 9, 2024

In 2023, Trump announced that once he got elected as US president, he will build 10 cities on federal land. He said these will be called “freedom cities”. These new US cities, he pointed out, would give the country a “new American future” after the nation, according to him, has “lost its boldness.”

With Trump emerging victorious in the US election, the Shiba Inu creator saw this as an excellent opportunity to push for his proposed blockchain hub.

SHIB up 23% in the last 24 hours. Source: Bitstamp

Cost Effective

Kusama agrees that transforming one of the American cities and making it a hub for the blockchain industry would be expensive in the short term.

The meme coin developer said that establishing the SHIB would cost the US government around $1.3 billion to $2.35 billion and would require five to 10 years to build.

However, he noted that the Trump administration should not focus on the short-term expenses but on the long-term economic and geopolitical benefits it will bring to the country.

SHIB market cap currently at $14.7 billion. Chart: TradingView.com

He said that SHIB’s outcomes would offset the cost of building it, explaining that in one to two years, he predicts that the blockchain hub would create 5,000 jobs.

The crypto developer added that the project could bring around $500 million into the local economy. It would also attract more than 100 blockchain startups to establish their business in the hub.

Kusama said:

“By leveraging blockchain’s transformative potential, this S.H.I.B. initiative aims to stimulate economic growth, create high-quality jobs, enhance national security, and reinforce the United States’ leadership in emerging technologies.”

A Strategic Investment

Kusama sees S.H.I.B. as a project that is transformative for the country, saying that it is a step to allow the US to clinch a strategic advantage in blockchain technology.

He predicted that the hub would become a self-sustaining ecosystem that could bring over $5 billion to the US economy every year, adding that it would also bring $500 million in tax revenues annually.

The crypto market responded favorably to the plan, pushing SHIB price to hit the $0.00002727 mark — a 23% increase in 24 hours.

Kusama believes that the project is a “strategic investment” essential for the country’s future since the proposal would generate significant economic returns and would make the country the leader in blockchain technology.

“With the President’s support, we can embark on this transformative journey, ensuring prosperity and security for generations to come,” he concluded.

Featured image from MDogsW, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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