Shiba Inu Lead Dev Ignites Buzz About New Partnership, SHIB Price Stagnates

Jake Simmons

1 year ago

3 mins read

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While the Shiba Inu (SHIB) price has been stagnant since mid-November, the latest cryptic news from the meme cryptocurrency’s lead developer could provide fresh fuel for a rally. As the SHIB community observed, Shytoshi Kusama has once again updated his profile.

The Shiba Inu lead developer’s status now reads “We Are Not Alone.” In addition, Kusama’s current Twitter location says, “With a new fren…guess who?” The SHIB community is now puzzling over whether the mysterious announcement could have to do with a new partnership or the launch of Shibarium, a layer 2 solution.

Hey $SHIB Family @ShytoshiKusama has once again updated his profile. "We Are Not Alone" and "With a new fren…Guess Who" Could it have anything to with a new partnershib or maybe even #SHIBARIUM? I am stumped. Help me out here family. pic.twitter.com/fX6AAhTpUB

— Shib Dream * Shiba Inu News * Shib Army Social 💎 (@theshibdream) December 27, 2022

As recently as Christmas Eve, Kusama tweeted that Shibarium will be released very soon, emphasizing the importance of next year for the project:

Happy Holidays to more than half the world. Wen Shibarium? Please know it will come very soon*, but not during a crucial time for people to spend with their family (or the resulting New Years party time). Enjoy these next days, next year is an important one for humanity.

Therefore, probably the hottest bet for the mysterious announcement could be Shibarium. The Shiba Inu community is currently eagerly anticipating its launch. Shibarium is a layer-2 blockchain solution for Shiba Inu that targets Ethereum’s high transaction cost and low transaction speed problem.

The goal of the layer-2 blockchain is to lay the groundwork for building the Shiba Inu ecosystem, which will consist of a metaverse, a DEX, and blockchain games. Shibarium has been in development for quite some time.

Another developer, Trophias, put the brakes on the release recently. He said that Shibarium needs more time because the launch has to be done carefully.

On the other hand, the SHIB community speculates that the announcement could be a new partnership with another blockchain company. However, there are no conclusive indications as to who the company could be.

Shiba Inu (SHIB) Price Caught In Downtrend

A new boost for the Shiba Inu price would be a welcoming gift for investors in the meme coin. Since the beginning of the bear market, SHIB has lost about 90% of its value. The all-time high was $0.00008819 and was reached on October 28, 2021.

The deep fall of Shiba Inu also happened despite the fact that the token enjoys very high popularity. As Binance made public on December 19, SHIB is one of the top 3 most watched crypto assets on the exchange in 2022, alongside Bitcoin and Ethereum.

However, even the recent announcement of the Shiba Inu lead developer has not been able to move the price. Within the last 24 hours, SHIB is posting a marginal gain of 0.04%, and over the last seven days, a loss of 1.1%. The trading volume is down to $59 million in the last 24 hours, an 8% drop from the previous day.

A look at the 4-hour chart of SHIB reveals that the token has been stagnating in a sideways trend since mid-November, trending slightly lower. Just last week, SHIB marked a 6-month low at $0.00000794.

Shiba Inu SHIB USD 2022-12-27 — SHIB price, 4-hour chart

The 1-week chart also paints a dark picture and reveals the massive crash in the Shiba Inu price. To build momentum, the $0.00001029 resistance would be key.

SHIB USD 2022-12-27 — SHIB price, 1-week chart

Featured image from VOI, Charts from TradingView.com

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

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