Shiba Inu lead developer Shytoshi Kusama has returned to X, teasing an important update for the SHIB community. This comes just as the meme coin’s price has fallen to a 3-year low in recent times crypto market crash.
Leading Shiba Inu Developer Returns As Price Hits New Lows
In an X postShiba Inu’s lead developer revealed that he has a “very important” update for the SHIB community. Shytoshi indicated that it was a very important update, noting that it would take 2 more hours to explain and that it is “very important for many.” For now, on to what’s next X postthe developer revealed that the update may be related to AI and possible integration.
Meanwhile, Shiba Inu engineer Kaal Dhairya He has not yet commented on what the review might be about. However, he defended Shytoshi following criticism from other members of the SHIB community regarding the developer’s private comments. SHIB’s marketing leader Lucie also commented on Shytoshi’s statement, indicating that he was still waiting for an update.
The return of Shiba Inu’s lead developer comes amid the recent Shiba Inu price crash, with the meme coin hitting a 3-year low of $0.000006461. SHIB crash follows a decline in the broader crypto market, with Bitcoin falling to a new annual low of $73,000. Crypto traders also seem to be betting on the meme coin right now CoinGlass data shows a 4% decrease in SHIB’s open interest.
Furthermore, the long/short ratio is currently below 1, indicating that many traders are shorting Shiba Inu in anticipation of lower prices. SHIB’s price has now fallen year-to-date (YTD), erasing the double-digit gains it recorded earlier in the year.
SHIB’s Rebuild Depends on Usage, Not Price
In an X subjectLucie showed that the key to rebuilding confidence in the Shiba Inu ecosystem is the kill and not the price. He noted that true self-confidence will first be seen in behavior, not in charts. He outlined ways in which they could improve this practice, including ensuring stable work in the program Ethereum network layer-2Shibarium.
In addition, Shiba Inu marketing leaders said they must avoid repeating exploitative patterns and ensure a smooth LEASH migration. He also spoke to the developers, saying that they should send new updates without drama.
At the time, Lucie noted that users should continue to interact on the network regardless Shiba Inu price stopped, as this recovery phase looks like this. The SHIB official added that the meme coin resides between the two regions as an asset that is no longer just a meme coin but is not yet a mature infrastructure network.
At the time of writing, Shiba Inu’s stock is trading at around $0.000006774, down about 2% in the last 24 hours, according to the report. data from CoinMarketCap.
Featured image from Sketchfab, chart from Tradingview.com
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