Shiba Inu Price Drops as Lead Developer Shytoshi Kusama Resigns
Shiba Inu Market Update
- Shiba Inu (SHIB) experienced a crash, losing critical support as the broader crypto market declined.
- Bitcoin (BTC) dropped below $100,000 after reaching an all-time high of $109,000 a week prior.
- SHIB's burn rate surged 856.36% in 24 hours, with 6,278,168 tokens burned; 28,389,728 burned in the past week.
- Total SHIB tokens burned reached 410.743 trillion.
- Current SHIB price is $0.00001765, reflecting an 11.70% decrease in the last 24 hours; trading volume rose 166.78% to $475 million.
- 74.17% of SHIB wallets have held the token for over a year, with a yearly increase of 95.66%.
- Technical indicators show bearish divergence; critical support zone between $0.0000185 and $0.0000212 has been breached.
- Relative Strength Index (RSI) at 32.62 indicates potential further declines.
Developer Transition
- Shytoshi Kusama stepped down as lead developer of Shiba Inu, transitioning to a role as lead ambassador.
- Kusama emphasized the need for execution and communication over vision in the project's evolution.
- He aims to promote adoption and collaborate with developers migrating to ShibOS.
- Kusama plans to seek innovative partnerships and ensure a smooth transition to decentralized governance.