Shiba Inu Developer Shytoshi Kusama Plans to Leave: SHIB Price Prediction
The SHIB price has dropped by 2.5% in the past 24 hours, falling to $0.00001649 after lead developer Shytoshi Kusama hinted that he may step away from the meme token in the future.
Shiba Inu has now lost 3.5% in the past week and 28% in the last 30 days, although the coin holds onto 116% in the past year.
Yet the news that Kusama “will step away from the limelight eventually” may come as a blow to long-term SHIB holders, given how pivotal the developer has been for Shiba Inu’s growth.
However, such a ‘stepping away’ won’t happen until the meme token achieves its long-term development goals, at which point it should be a much stronger investment prospect.
One positive is that SHIB has actually lifted a little in the past hour, with its indicators now beginning to signal an improvement in momentum.
Its 30-day moving average (orange), for example, has just risen above the 200-day average (blue), which could signal an incoming breakout.
At the same time, SHIB’s relative strength index (purple) has risen from 30 yesterday to almost 60 today, a sign of rising buying pressure.
The market has been going through quite a turbulent phase over the past couple of weeks, as it braces itself for the possibility of a mass selloff coming from Mt. Gox creditors and the German government.
Yet SHIB’s trading volume has begun to climb over the past few days, from around $100 million at the end of June to $400 million as of writing.
This is a modest gain, yet it nonetheless indicates that buyers are taking the opportunity to buy the dip.
Of course, the past 24 hours have seen some partially negative news for Shiba Inu, in that its most high-profile developer, the pseudonymous Shytoshi Kusama, has suggested that he will withdraw from his current
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