Shiba Inu Price Declines 3% Amid Altcoin Market Rally
Shiba Inu's price has dropped 3% over the past month, underperforming the broader crypto market despite a rally in altcoins. The marketing lead, Lucie, suggests that an upcoming altcoin season could boost SHIB's price significantly.
Impact on Ecosystem Growth
- Shiba Inu's low price affects other ecosystem tokens like BONE, TREAT, and LEASH.
- Lucie stated that if SHIB's market cap reaches $30-50 billion, these tokens may see considerable gains.
- The current market cap for SHIB is $7.55 billion.
- To reach $30 billion, SHIB needs to increase by 300%; for $50 billion, it must grow by 600%.
- Concerns about TREAT's low market cap (under $2 million) have been raised, but Lucie views this as an opportunity for buyers.
- Kaal Dhairya, Shiba Inu's lead developer, emphasized the "halo effect," where SHIB's success could uplift other tokens.
LEASH Supply Controversy
- Dhairya confirmed a 10% increase in LEASH’s supply due to the creation of 10,765 new tokens on August 11, surprising the community.
- Previously, LEASH was believed to have a fixed supply, and rebasing processes were thought to be disabled.
- Rebasing adjustments can impact token balances positively or negatively for holders.