Shytoshi Kusama Unveils SHIFU Coin, Backed by Shiba Inu Team

News

  • Shytoshi Kusama spotlights SHIFU, a new meme coin tied to SHIB, sparking market buzz and airdrop anticipation.
  • SHIB gains 22% weekly and 80% monthly amid burns and whale activity, boosting bullish sentiments.
  • SHIFU’s launch, backed by Shiba Inu’s team, positions it as a rising star in the meme coin space.

Shiba Inu lead developer Shytoshi Kusama has captured market attention by spotlighting a new dog-themed meme coin, SHIFU. Kusama’s recent post on the social media platform X sparked widespread interest in the upcoming project. Market watchers are now closely monitoring developments surrounding the meme coin, which has ties to Shiba Inu’s developer team.

Shytoshi Kusama Promotes SHIFU on Social Media

In a December 4 post, Kusama used the phrase LFG while referencing the SHIFU coin. He further added, “Did someone say Airdrop?” The statement has fueled curiosity about the coin’s potential launch and related benefits. Kusama’s post built on an earlier comment from crypto market analyst Lark Davis, who described SHIFU as the master of all meme coins. Davis has  attributed the coin’s legitimacy to its connection with Shiba Inu, the second-largest meme crypto by market capitalization.

Moreover, Davis has also disclosed plans for an upcoming airdrop targeting holders of SHIB, BUBBLE, LEASH, and IO NFTs. According to him, the snapshot for this process is expected to occur soon. As Kusama amplified Davis’ comments, market participants responded with heightened interest in the meme coin project. Investors are now keenly awaiting further details as SHIFU gains traction as a hot topic in the crypto space.

SHIB Performance Boosts Market Optimism

The spotlight on SHIFU coincides with strong performance from Shiba Inu (SHIB) during the current bull cycle. SHIB has risen significantly in its price, getting to $0.00003037 at the moment, which is almost 3% up for intraday in general. The token’s trading volume over 24 hours fluctuated between $0.00002714 and $0.00003068. Furthermore, the weekly and the monthly contracts depicted an increase of 22% and 80% respectively.

These developments come amid ongoing SHIB burns, a factor contributing to reduced token supply and increased demand. Whale activity around SHIB has also intensified, with major holders boosting their positions. This accumulation has further strengthened bullish market sentiments for the token.

The SHIFU coin launch is expected to attract significant attention, given its association with Shiba Inu’s ecosystem. With Kusama’s backing and planned incentives like the airdrop, SHIFU’s early momentum positions it as a potential market disruptor. As developments unfold, the crypto community remains focused on Kusama’s next updates and the coin’s future trajectory.

The post Shytoshi Kusama Unveils SHIFU Coin, Backed by Shiba Inu Team appeared first on Crypto News Land.

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