{"id":523493,"date":"2023-03-17T08:31:44","date_gmt":"2023-03-17T08:31:44","guid":{"rendered":"https:\/\/wncen.com\/?p=523493"},"modified":"2023-03-17T08:31:44","modified_gmt":"2023-03-17T08:31:44","slug":"shiba-inu-dev-drama-affects-shib-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-dev-drama-affects-shib-price\/","title":{"rendered":"Shiba Inu Developer Drama Takes Toll On SHIB Price &#8211; Here&#8217;s Why"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Shibarium network upgrade &#8211; an upcoming blockchain network that will be integrated into the Shiba Inu coin &#8211; has been generating buzz since the release of <\/span><a href=\"https:\/\/blog.shibaswap.com\/shibarium-early-beta-test-is-live\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">PuppyNet<\/span><\/a><span style=\"font-weight: 400\">, the ecosystem\u2019s beta test of the upcoming upgrade. This would give developers a true feel of what the upgrade is all about.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This will be the Shiba Inu ecosystem\u2019s Layer 2 blockchain solution which would benefit the Shibarmy. Low-cost transactions, quick confirmation times, NFT creation, everything that would make the Shiba Inu ecosystem stand out from its memecoin competition. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This would also further distance SHIB from its memecoin origins since SHIB \u2013 and its sister and brother tokens, BONE and LEASH \u2013 will now have real-world utility for the SHIB community.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, recent developments have affected the sentiment surrounding the token.\u00a0<\/span><\/p>\n<h2><strong>Developer Drama And BitBoy Drag SHIB Down\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">As of writing, the token is <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/shiba-inu\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">down<\/span><\/a><span style=\"font-weight: 400\"> more than 6.2% in the past 24 hours. This has been caused by the recent drama surrounding the development of the upgrade and BitBoy\u2019s recent attacks on the pseudonymous main developer of Shiba Inu, Shytoshi Kusama.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It all boils down to one recent tweet of <\/span><a href=\"https:\/\/twitter.com\/Rancune_eth\/status\/64889090?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">@Rancune_eth<\/span><\/a><span style=\"font-weight: 400\">, detailing that Shibarium runs on stolen code along with accusations of manipulation. This led to BitBoy accusing Shytoshi of being Sam Bankman-Fried in disguise.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">HOLY SHIT. Serious escalation in official <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$SHIB<\/a> discord.<\/p>\n<p>Shibereum is a ripped chain from Rinia, they forgot to change chain ID.<\/p>\n<p>Mod tells us about manipulation and silencing. <a href=\"https:\/\/twitter.com\/search?q=%24bone&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$bone<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24shib&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$shib<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24leash&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$leash<\/a>## <a href=\"https:\/\/t.co\/Lw8IDidDqA\" rel=\"nofollow\">pic.twitter.com\/Lw8IDidDqA<\/a><\/p>\n<p>\u2014 Rancune (@Rancune_eth) <a href=\"https:\/\/twitter.com\/Rancune_eth\/status\/64889090?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 16, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">This also led to all three of the Shiba Inu ecosystem tokens plunging with BONE <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bone-shibaswap\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">down<\/span><\/a><span style=\"font-weight: 400\"> more than 17% in the past day. This could be a sign that the community\u2019s trust is wavering for the Shibarium upgrade despite showing that it would surely benefit the community,<\/span><\/p>\n<h2><strong>Shiba Inu At Important Crossroads<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The crypto market has been experiencing major profit-taking in the short to medium time frame. According to <\/span><a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, the global market cap of crypto is down more than 2% since yesterday.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This presents a very bearish short-term for SHIB. As the Shibarium drama continues, we can expect investors and traders to lose hope that the network upgrade would bring profits, thus dumping them in the market. It can already be seen happening with a major whale unstaking 800 billion SHIB from ShibaSwap.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/usdc-feeling-intense-pressure-despite-fed-action-to-halt-svb-contagion\/\" target=\"_blank\" rel=\"noopener \">USDC Feeling Intense Pressure Despite Fed Action To Halt SVB Contagion<\/a><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/P1yzT3Rd\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">SHIB total market cap at $6.3 billion on the daily chart at <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a>.<\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-falls-back-to-24000\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Bitcoin Falls Back To $24,000 After Briefly Topping $26K \u2013 Will BTC Backpedal Further?<\/a><\/div>\n<p><span style=\"font-weight: 400\">This amount of SHIB being sold to the market might not he good news for SHIB holders in the long term. Meanwhile, bulls should then continue defending the $0.00001018 as this would blunt any bearish attempt. However, the recent drama would certainly dampen investor trust in the upcoming network upgrade.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If the situation does not improve, we can expect SHIB to hit $0.00000927 which would give the bears a chance to claw even lower. Investors should then monitor the recent drama as this would give them a gauge in the overall market sentiment surrounding the token.\u00a0<\/span><\/p>\n<p><em>-Featured image from Paper Writer<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Shibarium network upgrade &#8211; an upcoming blockchain network that will be integrated into the Shiba Inu coin &#8211; has been generating buzz since the release of PuppyNet, the ecosystem\u2019s beta test of the upcoming upgrade. This would give developers a true feel of what the upgrade is all about.\u00a0 This will be the Shiba Inu ecosystem\u2019s Layer 2 blockchain solution which would benefit the Shibarmy. Low-cost transactions, quick confirmation times, NFT creation, everything that would make the Shiba Inu ecosystem stand out from its memecoin competition. This would also further distance SHIB from its memecoin origins since SHIB \u2013 and its sister and brother tokens, BONE and LEASH \u2013 will now have real-world utility for the SHIB community.\u00a0 However, recent developments have affected the sentiment surrounding the token.\u00a0 Developer Drama And BitBoy Drag SHIB Down\u00a0 As of writing, the token is down more than 6.2% in the past 24 hours. This has been caused by the recent drama surrounding the development of the upgrade and BitBoy\u2019s recent attacks on the pseudonymous main developer of Shiba Inu, Shytoshi Kusama.\u00a0 It all boils down to one recent tweet of @Rancune_eth, detailing that Shibarium runs on stolen code along with accusations of manipulation. This led to BitBoy accusing Shytoshi of being Sam Bankman-Fried in disguise.\u00a0 HOLY SHIT. Serious escalation in official $SHIB discord. Shibereum is a ripped chain from Rinia, they forgot to change chain ID. Mod tells us about manipulation and silencing. $bone $shib $leash## pic.twitter.com\/Lw8IDidDqA \u2014 Rancune (@Rancune_eth) March 16, 2023 This also led to all three of the Shiba Inu ecosystem tokens plunging with BONE down more than 17% in the past day. This could be a sign that the community\u2019s trust is wavering for the Shibarium upgrade despite showing that it would surely benefit the community, Shiba Inu At Important Crossroads The crypto market has been experiencing major profit-taking in the short to medium time frame. According to CoinGecko, the global market cap of crypto is down more than 2% since yesterday.\u00a0 This presents a very bearish short-term for SHIB. As the Shibarium drama continues, we can expect investors and traders to lose hope that the network upgrade would bring profits, thus dumping them in the market. It can already be seen happening with a major whale unstaking 800 billion SHIB from ShibaSwap. Related Reading: USDC Feeling Intense Pressure Despite Fed Action To Halt SVB Contagion SHIB total market cap at $6.3 billion on the daily chart at TradingView.com. Related Reading: Bitcoin Falls Back To $24,000 After Briefly Topping $26K \u2013 Will BTC Backpedal Further? This amount of SHIB being sold to the market might not he good news for SHIB holders in the long term. Meanwhile, bulls should then continue defending the $0.00001018 as this would blunt any bearish attempt. However, the recent drama would certainly dampen investor trust in the upcoming network upgrade.\u00a0 If the situation does not improve, we can expect SHIB to hit $0.00000927 which would give the bears a chance to claw even lower. Investors should then monitor the recent drama as this would give them a gauge in the overall market sentiment surrounding the token.\u00a0 -Featured image from Paper Writer<\/p>\n","protected":false},"author":557,"featured_media":505330,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[14690,3505,83668,83667,87680],"class_list":["post-523493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-news","tag-price-analysis","tag-shib","tag-shiba-inu","tag-shibarium"],"acf":[],"yoast_head":"\n<title>Shiba Inu: Developer Drama Takes Toll On SHIB Price<\/title>\n<meta name=\"description\" content=\"The Shibarium network upgrade - an upcoming blockchain network that will be integrated into the Shiba Inu coin - has been generating buzz since the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/shiba-inu-dev-drama-affects-shib-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu: Developer Drama Takes Toll On SHIB Price\" \/>\n<meta property=\"og:description\" content=\"The Shibarium network upgrade - an upcoming blockchain network that will be integrated into the Shiba Inu coin - has been generating buzz since the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/shiba-inu-dev-drama-affects-shib-price\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-17T08:31:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Shiba-Inu.png\" \/>\n\t<meta property=\"og:image:width\" content=\"887\" \/>\n\t<meta property=\"og:image:height\" content=\"532\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/shiba-inu-dev-drama-affects-shib-price\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/shiba-inu-dev-drama-affects-shib-price\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Shiba Inu Developer Drama Takes Toll On SHIB Price &#8211; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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