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.
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.
Featured image from VOI, Charts from TradingView.com