Shiba Inu’s lead ambassador, Shytoshi Kusama, has been silent on social media since early March, leaving netizens to ponder over what the pseudonymous marketer and the decentralized crypto’s developers are up to.
According to Shytoshi’s X account feed, the last “activity” the ambassador had on the platform was over a week ago, which was a repost of AGI-gaming ecosystem Astra Nova’s presale on March 7.
Last Thursday, the Shibarium marketer and team member known as Lucie tried to calm the community down by explaining that Shytoshi had stepped away from socials to focus on his global marketing duties, as he had previously announced.
“The ambassador is working hard around the globe to bring awareness. I’m sure he will have a lot to talk about once he returns to socials,” she surmised.
Kusama continues with periodic social media absenteeism
It is not the first time Shytoshi Kusama has taken a social media hiatus. In May 2024, he reduced his social media presence, later revealing that he had traveled to the Middle East to visit family.
The ambassador has a well-documented “workaholic nature,” revealing back in late November last year that he often works up to 20 hours a day to “take SHIB from top 15 to top 5.”
How it feels trying to give utility to a memecoin and take it from top 15 to top 5. In less than 5 years… without a huge budget. (Nice piece bro @Macbaconai) https://t.co/eploEi2zS3
Kusama was mostly active on social media during the December holiday season when many took time off to celebrate with loved ones.
Some community members believe Kusama’s silence spells more good news for the development of the Shibarium ecosystem behind the scenes.
“The legend Shytoshi Kusama is cooking something big for sure. He always comes up with some breakthrough news for the $SHIB Army!” an Astra Nova developer said on X.
SHIB price goes up after weekly token burn event
In other news, SHIB’s price is up 0.2% in the last hour, following the update of its weekly token burn event made through the Shibburn X account. Over the past seven days, the community has burned approximately 535 million SHIB tokens, taking the weekly burn rate up by 415%.
According to data from Shibburn, the total number of SHIB tokens burned to date stands at 410.49 trillion. The project originally created 999.99 trillion tokens, leaving over 589 trillion still in circulation.
On Saturday, SHIB saw a 1.6% intraday price increase, reaching $0.0000128, per CoinGecko data. The meme coin’s price has been consolidating between $0.00001244 and $0.0000129 throughout the day.
The token’s market capitalization now stands at approximately $7.5 billion, a 1.5% uptick from its valuations on Friday’s close. Still, trading volume has gone down by slightly above 7% in the last day, lingering around $172 million.
Will SHIB bullish run start soon?
According to TradingView’s technical indicators, Shiba Inu’s market sentiment is currently leaning towards strong selling conditions. Momentum oscillators are mostly neutral, but moving averages give the basis for a more bearish prediction.
The crypto’s Relative Strength Index (RSI) stands at 42.86, which neither spells overbought nor oversold conditions. The Stochastic Index at 38.73 and the Commodity Channel Index (CCI) at -35.78 could also give holders reasons to wait and see where the chart moves before taking any position.
The 50-day Exponential Moving Average (EMA) at $0.00001530 and the Simple Moving Average (SMA) at $0.00001519 both show that the coin is battling downward pressure. Longer-term indicators remain well within bearish territory, with the 100-day EMA at $0.00001743 and the 200-day EMA at $0.00001853, both well above SHIB’s current price.
Still, momentum indicators like the Awesome Oscillator are mostly negative, drowning out any possibility of price pullback that could start a bullish momentum. SHIB’s 10-day Momentum indicator is negative at -0.00000059, signaling a short-term selling trend that has also been witnessed in the spike in daily net deposits on exchanges, according to CryptoQuant.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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