Shiba Inu Developer Proposes Creating a Crypto Hub in the US
Date: 2024-11-11 Author: Oliver Abernathy Categories: BUSINESS
Shib Inu lead developer Shaitoshi Kusama has announced his ambitious plan to create a “Silicon Valley for cryptocurrency” in the US ahead of the presidential election. The project, which is valued at several billion dollars, is aimed at strengthening the US’s position as a leader in blockchain technology.
Kusama said: “I proposed this not only for Shiba Inu, but as a way to create a Silicon Valley for cryptocurrency, hoping that the US will embrace innovation and catch up with the rest of the world.”
SHIB Up 40%
The market has responded positively to Kusama’s initiative: the SHIB token price has grown by 40% and reached $0.00002727 in a day. The token’s trading range has increased from $0.00001925 to $0.00002768, with weekly growth exceeding 65%. Despite this, the current price remains 68% below the all-time high of $0.00008616 set in October 2021.
While the recent surge in SHIB cannot be directly attributed to Kusama’s proposal, the generally favorable conditions in the cryptocurrency market may have also contributed to this growth.
The Shiba Inu Foundation plans to formally present its proposal to the new US administration. The funds raised through the D.O.G.E. initiative may become a source of funding for the implementation of these innovations.
Kusama noted: “This is an opportunity to show the world that we remain at the forefront, our technology can be in demand, and our innovations will benefit the whole world.”
