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Shiba Inu lead developer Shytoshi Kusama has shared a cryptic response to an X post, which suggests that SHIB could witness an upward trend soon.
In a recent X post, early Bitcoin advocate Davinci Jeremie called the public’s attention to Shiba Inu, indicating that SHIB is about to experience something significant.
The early Bitcoin added the eyes emoji to the tweet as a way of informing his over 602,000 X followers to watch Shiba Inu closely in anticipation of a potential rally.
Shiba Inu Lead Reacts
Jeremie’s tweet stirred reactions among Shiba Inu enthusiasts, with Kusama joining other SHIB proponents in reacting. Notably, Kusama reacted with a cryptic response using an X gif.
According to Kusama’s response, the lady in the GIF gestured in agreement with Jeremie’s speculation about Shiba Inu. This suggests that Kusama is confident of an imminent rally for the canine-themed token.
pic.twitter.com/Uc4zyTFFwo
— Shytoshi Kusama™ (@ShytoshiKusama) April 24, 2024
Potential Reasons Behind SHIB 12% Surge 12%
Shiba Inu has had a remarkable performance in the past week despite the broader market witnessing a brutal onslaught, leading to a massive dip in crypto prices.
Following its latest incredible performance, Shiba Inu’s price has surged 12.3% in the weekly charts. In the hours leading up to press time, Shiba Inu was changing hands at $0.00002543 after recording a 1.2% surge over the past day.
Although no particular event can be attributed to this price gain, Shiba Inu has been in the news for positive reasons.
On April 24, prominent trading platform Robinhood made Shiba Inu available to its New York customers. Additionally, crypto hardware wallet provider Tangem added Shiba Inu as a payment option, allowing its customers to purchase the Tangem Wallet with SHIB.
Also, leading crypto exchange BitMart recently bolstered Shiba Inu’s adoption by introducing a 30% discount for SHIB purchases starting today.
Furthermore, the ecosystem team behind Shiba Inu also disclosed that it had raised $12 million in seed funding, which would be used to build a Layer-3 privacy blockchain on Shibarium.
Expert Sees SHIB Hitting $0.001 This Season
In the meantime, top market watchers have continued to issue favorable predictions for Shiba Inu in the 2024/2025 market cycle. Earlier this week, famous crypto investor Armando Pantoja projected that Shiba Inu’s price would hit $0.001 this year or next.
Notably, a rally to $0.001 would require SHIB to spike by 3,832% from its current price of $0.00002543. The possibility of Shiba Inu reaching the $0.001 target is a difficult task for the token, given its hefty circulating supply.
Nonetheless, Shiba Inu has a track record of leaving investors stunned with its price movements, with Ethereum co-founder Vitalik Buterin attesting to this fact.