Shiba Inu has experienced a significant rise over the last month, from below $0.00001 to above $0.00004, only 50% behind its all-time high price. This has boosted bullish sentiment among SHIB investors as crypto analysts continue to demand higher prices, one of which was co-signed by Shiba Inu’s main developer, Shytoshi Kusama.
In a tweet on X (previously Twitter), crypto analyst Jake Gagain predicted an extremely favorable price for the Shiba Inu. According to him, the meme coin’s market capitalization might reach $100 billion during the bull market.
“$SHIB Will Reach $100 Billion This Cycle,” the post stated.
Major Update Coming Soon!
However, The recent hype about the Shiba Inu updates has provided Shiba Inu the momentum it needed. Shytoshi Kusama took to Twitter to tease Shiba Inu’s upcoming avenues.
Shytoshi tweeted on X – “While they sleep… we’re up, in meetings, talking to the other side of the world for the upcoming announcement and release of an important Shib-themed service/product”.
The announcement has led to speculations about whether this is related to innovations in Defi. The entire shibarium community eagerly awaits the update; the credit goes to its dedicated team, which has helped make its comeback from the market downturns.
The token, currently down by 3.56%, is still up by 243.83% in the past week. Kusama’s projection shows that Shiba Inu’s valuation could top $100 billion in the long term.
It is currently the 8th largest crypto, replacing Avalanche (AVAX) and just behind Dogecoin.
Shiba Inu recently announced the release of version 1.1 of the Shib Name Service (SNS). The transfers of current name tokens were halted for two hours on March 4 to capture a snapshot used to airdrop the updated new Shib names, done in partnership with D3 Inc.
While the entire community is hopefully waiting for the news, some users reacted to the news
complaining about the time it’s taking to release the news, while some asked if this is just hype being created. The limelight is now on Shiba Inu as it looks forward to reaching new milestones, further looking to replace Dogecoin, which will rebuild the SHIB landscape.
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