Key Takeaways:
- Shiba Inu’s marketing head criticized two exchanges for “manipulative” delisting amid a price drop.
- SHIB’s current price of $0.00001121 is down 1.52%, with a weekly loss of 3.81%.
- A 264% price increase is required to flip Dogecoin and become the top meme coin.
Lucie, Shiba Inu’s marketing head, reacted strongly against two unnamed exchanges that recently delisted SHIB. She called it a manipulation act and said that SHIB was not even among the lowest-traded coins in those exchanges.
She was critical of centralized systems in favor of decentralized finance. Lucie pointed out that most exchanges are prone to list tokens due to listing fees as opposed to use case or community value.
This reaction was not just emotional but strategic. The delisting episode caused a FUD (fear, uncertainty, and doubt) response among members of the community, especially those that do not hold tokens in the SHIB economy.
Lucie urged all to keep their eyes on the long-term goal and embrace decentralized finance principles that respect user self-governance over centralized gatekeeping.
This delisting scandal echoes past times when seemingly legitimate platforms like WazirX, Hotbit, and FTX failed in the end. Shiba Inu leadership’s message remains constant: there’s risk with relying on centralized exchanges, and development of the project resides in bringing about a decentralized future.
Also Read: Shiba Inu (SHIB) Explodes 8%: Bullish Pattern Targets $0.00001250 Next
Shiba Inu Drops 12% in June, Marks Fifth Red Month
While the internal message revolved around community resilience, SHIB’s action in the market hasn’t been encouraging. The current prices of SHIB are at $0.00001121, with a daily fall of 1.52% and a weekly slide of 3.81%.
The token ended down 10% in June to mark its second consecutive red month and fifth in the last six months. Shiba Inu has a market capitalization of $6.66 billion to place it 19th globally among cryptocurrencies, according to CoinMarketCap’s statistics.
The larger crypto environment’s mood has been guarded, with Bitcoin’s growing dominance dragging down many of the altcoins.
However, there is an optimism in SHIB holders. They believe that the token can regain the value of $0.0000412 that it once reached in March 2024 if overall momentum shifts.
SHIB Must Hit $24.3B Market Cap to Top DOGE
The objective of transforming Dogecoin into the top memecoin remains a strong narrative. SHIB will have to climb to a market value of $24.3 billion to beat DOGE. That would translate to an approximately 264% increase in prices from current levels.
Although ambitious, this is not deemed impossible by analysts who reference SHIB’s ability to rebound sharply under vigorous community-initiated momentum.
Lucie’s sentiments might have been controversial, but their discussion helped generate additional debate regarding crypto’s core ethos of decentralization and freedom of finances. SHIB’s near-term future remains in doubt, but its long-term push toward being anything other than a meme token continues.
Also Read: Shiba Inu Whale Surge: $114 Million Accumulation Signals Strong Buy Pressure
