In a recent tweet, Shiba Inu team member Lucie shut down speculation regarding the project’s fate.
Lucie spoke about projects that spend millions on marketing only to vanish in a year or two, adding that the “SHIB ecosystem took every hit but it’s still here, still building, still fighting.”
This statement comes as the Shiba Inu ecosystem has been relatively quiet, with no new major announcements or partnerships in recent months.
Save for recent upgrades and milestones for Shibarium, which recently surpassed 14 million total blocks, nothing seemed to be happening to the usual eye in the SHIB ecosystem.
The Shibarium bridge incident in September cast the spotlight on the Shiba Inu layer 2, with developers taking proactive measures to curb the effects and afterwards placing safeguards around the network.
Shiba Inu lead ambassador Shytoshi Kusama remains off the social media scene, with his last X post being on Sept. 15, with the exception of changing his bio and location, which was reported in the last week.
Shiba Inu still building
The Shiba Inu price is down 1.99% in the last 24 hours to $0.000009895 as the broader crypto market traded mostly down on Tuesday. At its current price, SHIB is down 88.87% from its all-time high of $0.000088, reached in October 2021.
Shiba Inu is up 9.2% weekly but down 2.2% in the last 30 days and 61.9% yearly. Amid all this, Lucie assures the Shiba Inu community that the project still continues to build and fight.
In the short term, traders are keeping an eye on whether prices form a lower high, signaling a downtrend, or continue to rally.
The direction of the wider altcoin market of which Shiba Inu is a part will now depend on whether Bitcoin rebounds and establishes fresh levels of support or goes further downward.
Source: https://u.today/shiba-inu-shib-team-shuts-down-rumors-of-projects-demise-details
