Shiba Inu (SHIB) has been a major delight to the community after an intensive rally over the past week. Per current market data, the digital currency is seeing a reversal in its price as the token is down by 3.56% in the past 24 hours to $0.00003782. Despite this sell-off, Shiba Inu is still up by 243.83% in the past seven days.
The Shiba Inu success story thus far this March is based primarily on the general hype ion the mainstream market, driven by the surge in Bitcoin’s price to an all-time high (ATH). Second is the update to the Shiba Inu ecosystem, as teased by Shytoshi Kusama.
One of the latest updates features a projection from Kusama, in which he noted that the valuation of Shiba Inu could top $100 billion in the long term. This projection came following the return of Shiba Inu’s price to the $0.00004 level, with its market capitalization topping $13 billion. The uptick in Shiba Inu’s market value has helped it displace Avalanche (AVAX) as the 10th largest cryptocurrency.
Despite the ongoing correction, Shiba Inu’s resilience is showcased, with the price holding steady above the $0.000035 level.
Future expectations
Taking to his official X account, Shytoshi Kusama noted that he has been up in meetings and consultations with partners concerning a notable Shib-themed service that is poised to be released soon.
The Shiba Inu lead developer is aiming to capitalize on the growth of Shiba Inu at this time to bring new products that can complement the rally. Over the week, Shytoshi Kusama has announced the launch of Shib Name Service (SNS) in partnership with D3.
With the spotlight now on Shiba Inu as it looks to displace Dogecoin (DOGE), Kusama is optimistic that more of these products and services might help solidify the ongoing SHIB momentum toward breaching new heights.