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Shiba Inu Is Bearish, but Big Plans Are Ahead

Shiba Inu (SHIB) may be faltering recently, but the coin’s marketing strategist has revealed major plans for its future.

For a while, it looked like Shiba Inu was the memecoin to beat, rising fast to rival Dogecoin (DOGE). It still maintains a very respectable spot on the crypto charts, just a few places below Dogecoin, but Shiba Inu has been struggling lately.

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Over the last 30 days, SHIB has fallen 11%. It is up a bit today (2.79%) but still has a lot of ground to regain to get back to where it was at the beginning of the year. In fact, Shiba Inu is looking like it could be only part way through a long downward trend, but the Shiba Inu owners have some big plans for the coin in the near future.

Shibarium is a new collaboration from the creators of Shiba Inu that will bring together some partnerships and projects to spur the coin forward. This new venture is supposed to bring together 1,000 projects, and the marketing team promises that none of the existing Shiba Inu projects will be affected or canceled as a result.

New Ideas for Shiba Inu

The Shiba Inu team has been working hard recently to secure partnerships they expect will be lucrative, like one with Manny Pacquiao, the Filipino boxing champ.

The company is also working on a clean solution that will help speed up transactions and even bring costs down for customers. A recent update has helped to automate certain key systems and make manual token burning easier.

Some of the recent innovations were designed to keep the SHIB supply from growing too large and helping it stay valuable. There is concern that with the high burn rate that the price will continue to fall unless something is done about it. When there are too many coins in circulation, even those being held in digital wallets can drastically lose their value, and that is a problem the Shiba Inu creators are trying to get out in front of as quickly as possible.

 

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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