Main navigation

SHIB Price Takes U-Turn After Epic Shiba Inu Teaser Is Unveiled

Thu, 06/29/2023 - 09:42
article image
Gamza Khanzadaev
Price of Shiba Inu token soars following release of intriguing teaser by Shiba Inu
SHIB Price Takes U-Turn After Epic Shiba Inu Teaser Is Unveiled
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

In a surprising turn of events, the price of the Shiba Inu token has taken a U-turn, showing a remarkable rebound after experiencing a substantial drop of nearly 5% just yesterday. Today, the token's value has already exhibited a modest, yet noteworthy, 1.5% growth. This unexpected shift can be attributed to the much-anticipated teaser released by the enigmatic Shiba Inu spokesperson, Shytoshi Kusama.

Known for leaving more questions than answers with each of his publications, Kusama has managed to captivate the attention of the cryptocurrency community once again. This time, however, the Shiba Inu team itself took the initiative to lead the discussion, marking the release of a new video with a thought-provoking statement: "Wen is so last year. The real question is... Where?"

Shiba Inu's Lead Developer Shytoshi Kusama Stirs Intrigue with '#WHERE?' Tweet

Despite the anticipation surrounding Kusama's teaser, the focus quickly shifted back to the price of the SHIB token. Following the publication and the overall temporary respite on the crypto market, the Shiba Inu token showcased intriguing price action.

Shiba Inu (SHIB) price outlook

Initially plummeting to $0.000007 per SHIB, the token's value experienced positive aftershocks from the teaser release. The price then witnessed a significant surge, reaching $0.000073.

SHIB to USD by CoinMarketCap

Whales Shift 9 Billion SHIB, Major Exchanges Involved – Price Turns Green

Analyzing the SHIB price chart, two possible scenarios emerge. The first scenario suggests that if the Shiba Inu token maintains its current level and the daily candle closes here, it would indicate the strength and presence of interested buyers.

On the other hand, the second scenario envisions the price returning to or even dropping below $0.000007 after this bounce, implying that the recent surge was merely a correction and could potentially send the token on its "last" journey.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.