Shiba Inu (SHIB) is down over 14% today, but that might not be the whole story for crypto traders. Here’s a quick look at what you need to know before you trade SHIB.

Shiba Inu Developer Hints at Big News

Shytoshi Kusama, the lead developer for Shiba Inu, recently hinted on social media that a major Shib-themed service launch is on the horizon. This could potentially boost SHIB’s value. Kusama is also capitalizing on the current momentum by launching new products like the Shib Name Service (SNS).

Shiba Inu Eyeing $100 Billion Market Cap?

Kusama recently shared a post predicting a $100 billion market cap for SHIB, although he didn’t necessarily endorse the prediction.

Shiba Inu Outperforms Market

Despite today’s dip, SHIB has had a wild week, surging over 120% and significantly outperforming other major cryptocurrencies.

Technical Analysis of SHIB/USD

• Current resistance sits at $0.000037. If broken, it could signal further gains.
• Buying volume is at bull market levels, indicating strong investor interest.
• Meme coins are currently dominating the market, potentially benefiting SHIB.