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In a tweet shared with the Shiba Inu community, SHIB-focused X handle Shibizens highlights the legacy of Ryoshi, Shiba Inu's pseudonymous founder, and the tenets that shaped SHIB from its inception.
The tweet takes a look back at Ryoshi’s original Woofpaper, which emphasized spontaneity, decentralization and community-driven development, while urging the Shiba Inu community to reflect on this history.
The Shibizens X handle draws its inspiration from this particular chapter in Shiba Inu's past. The real knowledge it says this brings is that true strength lies in holding through storms and contributing during calm.
"The real knowledge? True strength lies in holding through storms and contributing during calm," Shibizen wrote in a tweet.
For many in the SHIB community, this speaks to the cycles Shiba Inu has gone through since its inception, from significant price increases (increase in millions of percent) to extended quiet phases, contributed to by investor sentiment and broader crypto market conditions.
As reported, Shiba Inu rose millions of percent shortly after its launch to reach an all time high of $0.000088 in October 2021. Since then, Shiba Inu has stayed in a quiet consolidation phase, which has weighed on its price. At current prices, Shiba Inu is down more than 93% from its ATH.
Market catalysts awaited
At the time of writing, SHIB was unchanged in the last 24 hours, up 0.76% in the last 24 hours to $0.000005897 as the broader crypto market awaits a catalyst.
One key catalyst on Friday will be the U.S. consumer price index (CPI) data, which is expected to show a jump in headline inflation. The U.S. consumer price index, which was up 0.3% in February, is expected to show an increase of 0.9% when the latest monthly print is released. Similarly, headline annual inflation, which stood at 2.4% year-over-year in February, is forecast to jump to 3.3% for March.
On Thursday, the personal consumption expenditures price index, which is regarded as the Fed’s preferred inflation gauge, saw a monthly rise of 0.4% in February, in line with expectations and increasing 2.8% year-on-year.
Dan Burgin
U.Today Editorial Team
