Shiba Inu Lead Dev Touts “Go Mode”, Will Price Follow?
April 25 2023 - 8:50AM
NEWSBTC
Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, has
shared an exciting message with the SHIB community in the official
Shibarium Telegram group today. It comes at a time when the SHIB
price is facing a make-or-break moment, as NewsBTC reported
yesterday. Exciting Updates For The Shiba Inu Community? The lead
developer was responding to a user of the group who pointed out
that the last Medium update on the ongoing development of the layer
2 network was made a while ago. Kusama responded that the project
is progressing rapidly and that members of the Shiba Inu community
already have plenty of updates: I think the army has plenty of
updates as the chain activity and all the tokens are very public.
We’re in go mode, not bro mode. What exactly Kusama means by this
can only be speculated. In the last medium update on Shibarium, he
announced that the layer-2 technology will be released on the
mainnet before the end of 2023. However, an exact date is not yet
known. The latest comment by Kusama suggests that significant
progress is currently being made towards the mainnet launch.
Related Reading: Shiba Inu (SHIB) Price Faces Make-Or-Break Moment
On the other hand, the Shiba Inu lead developer could just be
hinting at the progress being made throughout the ecosystem. Bone
Shibaswap (BONE), the governance token of the Shibaswap ecosystem,
recently received a listing from the major crypto exchange OKX. In
addition, Kusama recently announced the forthcoming release of
ShibaSwap 2.0 in a Telegram message. Remarkably, it is not uncommon
for Kusama to use metaphors to announce progress in the Shiba Inu
ecosystem. Even before the launch of the beta version of Shibarium,
the developer posted numerous encrypted messages. Just yesterday,
Kusama stated that he was working with Shiba Inu team members to
achieve “the impossible.” Related Reading: Shiba Inu Whales On
Buying Spree, Add 311 Billion Tokens During Price Dip SHIB Price
Still Faces Make-Or-Break Moment The deep correction in the crypto
market has caused the Shiba Inu (SHIB) price to break down an
ascending triangle pattern that has been developing since early
March. Now SHIB is trading near the crucial support level at
$0.00001005. If SHIB breaks this level to the downside as well, the
uptrend that started earlier this year would be in jeopardy. SHIB
needs to stay in the trading range between $0.00001005 and
$0.00001151 to avoid a break of the trend in the higher time frame.
If the bulls fail to defend the trading range, a decline to
$0.00000965 would be the most likely scenario before SHIB could
possibly fall back to the $0.00000855 price level. Currently, a
symmetrical triangle pattern has formed in the 2-hour chart. An
upward breakout towards the middle part of the aforementioned
trading range is key (near $0.00001096). Otherwise, a break to the
lower levels could be next. Featured image from Rayne L. /
Unsplash, chart from TradingView.com
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024