Shiba Inu Developer Responds to Critics as SHIB Hits New Highs

Shytoshi Kusama, Shiba Inu’s lead developer, celebrated SHIB’s impressive growth across multiple timeframes. As the crypto market gains momentum, SHIB has emerged as a standout performer, hitting new monthly highs.

Kusama, posting on X, shared SHIB’s recent price movements. The token saw a 2.2% gain in an hour, followed by a 19.6% surge over 24 hours. Over the past week, SHIB climbed 16.8%, reflecting steady progress. The token’s 14-day performance showed a 28.8% increase, while the 30-day gain stood at 77.9%. Notably, SHIB’s year-long performance showed an astounding 274.7% increase.

Strong Response to Critics

Reacting to skeptics, Kusama questioned how anyone could spread fear, uncertainty, and doubt (FUD) about SHIB given its performance. His post underscored SHIB’s resilience and potential for further growth.

SHIB’s trading volume has also surged significantly. On December 1, trading volume reached $7 billion, surpassing notable tokens like AVAX, TRX, TON, and XLM. Kaal Dhairya, another key Shiba Inu developer, highlighted this achievement on X. Data from CoinMarketCap confirmed SHIB as one of the most traded tokens in the last 24 hours, with volumes exceeding $6.08 billion.

🐶 Woof woof! This is insane, I fact checked in the last 24 hours, $SHIB has fetched $7B in volume—more than double the combined trailing four tokens! 🐾#SHIBARMY, let’s unleash our pawsitivity! 🐕 Let’s bark at all the CEXs who’ve been digging up millions in trading fees from… https://t.co/SXdvUxaA9c
— Kaal (@kaaldhairya) December 1, 2024

Ecosystem Activity Boosts Interest

Analysts linked the surge in trading volume to growing activity within the Shiba Inu ecosystem. Calls for broader adoption of Shibarium and rising interest in tokens like BONE and LEASH have fueled this momentum. Over the past seven days, BONE’s trading volume jumped 19%, while LEASH saw a 10% increase.

Market experts predict SHIB’s recent accumulation phase could trigger a major breakout. SHIB Knight, a well-known observer, speculated that prices could spike to $0.000037. Meanwhile, Nebraskangooner pointed to a symmetrical triangle pattern, noting a potential breakout signal as SHIB closed above this formation.

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Shiba Inu’s strong performance, record trading volumes, and increased ecosystem activity suggest bullish prospects ahead. Many believe SHIB’s next move could lead to significant price gains, reinforcing its status as a top crypto asset.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.