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HomeCrypto NewsMarketShiba Inu Lead Developer Outlines Upcoming Upgrades for SHIB Projects
Shiba Inu Lead Developer Outlines Upcoming Upgrades for SHIB Projects
DATE:

FEBRUARY 16, 2024
WRITTEN BY:

LELE JIMA
Analysis

Market Analysis: Why Is Shiba Inu On The Rise?
Mark Brennan - December 24, 2023

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Shiba Inu
Shiba Inu

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In the latest edition of Shib Magazine, lead developer Shytoshi Kusama reveals some significant upgrades that will be implemented across various Shiba Inu projects.

The team behind the Shiba Inu ecosystem has made significant upgrades, positioning SHIB among the leading cryptocurrencies.

In less than four years, the Shiba Inu ecosystem now has a metaverse project (Shib: The Metaverse), a play-to-earn game (Shiba Eternity), NFT (Shiboshis), decentralized exchange (ShibaSwap), and an L2 blockchain (Shibarium).

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Shiba Inu Progress in 2024
To strengthen the ecosystem further, the team, through its lead developer, Shytoshi Kusama, outlined strategic advancements that will be introduced to Shiba Inu-related projects in the coming days.

According to Kusama, the team has been working relentlessly to make its L2 blockchain the meme capital of the world.

He noted that this year has been amazing so far, given its collaboration with D3 Global for the Shib Name Service (SNS) and the implementation of critical upgrades for Shib: The Metaverse.

He also mentioned that Shiba Inu’s AI project with Bad Idea has seen key upgrades in 2024.

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Upcoming Upgrades for Shiba Inu Projects
Furthermore, Kusama unveiled some upgrades that will be introduced to Shiba Eternity. In the coming months, Shiba Eternity will receive new upgrades to resolve some bug issues in the Android and iOS versions.

He mentioned that Shiba Inu developers are finalizing the design of unique P2E opportunities for the players and game holders. Per Kusama, the beta testing of the Shiba Eternity upgrade will begin in the coming months, barring any major issues.

Regarding Shiba Inu’s decentralized exchange, Kusama said efforts are being made to release ShibaSwap 1.5 on Shibarium, with version 2.0 to roll out thereafter. As part of the release, the team will bridge many tokens and decentralized applications to Shibarium at the appropriate time.

Shiba Inu Launches New Experiment
Interestingly, Kusama announced a new Shiba Inu experiment that will leverage the ERC-404 Ethereum standard. Dubbed The SHEboshis, the experiment will be an advancement of Shiba Inu’s non-fungible token project. SHEboshis will act as a companion to the existing Shiboshi NFTs.

Notably, a portion of the hybrid SHEboshi NFT can be claimed on the Ethereum network by select Shiboshi holders starting this weekend and lasting 72 hours.

Once the initial claim period elapses, LEASH holders can purchase SHEboshis in the next 24 hours. Afterward, the general public can purchase the remaining SHEboshis on Uniswap and ShibaSwap.

As reported earlier, a portion of SHEboshi proceeds will be used to burn SHIB, LEASH, BONE, and the upcoming TREAT and SHI tokens.

SHIB Hits $0.00001
In the meantime, SHIB experienced a brief rally yesterday that saw it surpass the $0.00001 price for the first time since January.

However, the rally was short-lived as the token’s price slumped from its 24-hour high of $0.00001003 to $0.00000990. In the hours leading up to press time, SHIB is up 1.8% in the past day and 6.1% in the weekly charts.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.
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Shiba Inu is ‘Warming Up,’ Analyst Projects $0.00001492 High

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HomeCrypto NewsMarketShiba Inu is ‘Warming Up,’ Analyst Projects $0.00001492 High
Shiba Inu is ‘Warming Up,’ Analyst Projects $0.00001492 High
DATE:

FEBRUARY 15, 2024
WRITTEN BY:

GODFREY BENJAMIN
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Shiba Inu SHIB

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Shiba Inu (SHIB) just made an emphatic move away from its bearish zone with optimistic projection filling the horizon.

Shiba Inu is one of the big beneficiaries of the ongoing market resurgence, climbing 2.81% in 24 hours to $0.000009766. The market capitalization and trading volume also tell a similarly bullish story with 2.8% and 44.27% surges to $5,754,891,906 and $199,615,951, respectively.

The Shiba Inu resurgence story is characterized by massive resilience. The token had stayed depressed for some weeks as the $0.00001 price level served as a major resistance point it could not breach. While it is still trading below this level, market analyst SHIB KNIGHT is optimistic a breakout is imminent.

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Shiba Inu Ambitious Target Locked
According to SHIB KNIGHT, Shiba Inu has broken its downtrend on the weekly chart. The analyst identified the $0.00000953 price level as the support to watch, noting that the market is looking “good” with SHIB preparing for its next leg up.

SHIB KNIGHT highlighted 4 major price targets to watch as the SHIB revival continues. The first target is $0.00001011. Then he believes the next significant levels are $0.00001193, and $0.00001309. Ultimately, he noted that the token could soar as high as $0.00001492.


While the analyst presented no timeline, he balanced his view by identifying three key support levels that investors need to watch out for. These support levels include $0.00000953, $0.00000896, and $0.00000880.

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Breaking One Zero is Just a Start
Shiba Inu last traded at $0.00001 in early January this year. Though this price level marks its short-term target, the community has more lofty expectations for the token.

Members of the Shib Army are targeting the removal of not just one zero but four, attempting to hit the ambitious 1 cent goal in the long term, a target it hopes to achieve by drawing on its token burn campaign. With this goal, retesting $0.00001 might just be a starting point for the token.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Godfrey Benjamin
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https://thecryptobasic.com/
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web3.0. His love for crypto was birthed when as a former banker, he discovered the obvious advantaged of decentralized money over traditional payments. With his vast experience covering different aspects of Web3, Godfrey's articles has been featured on Blockchain News, Cryptonews Com, and Coingape amongst others. When not writing contents related to crypto, you can find him playing video games.
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