Altcoin
Shiba Inu Team Proposes S.H.I.B. Strategy to Musk and Trump, SHIB Price To Rally?
Shiba Inu coin’s team sparked a tidal wave of frenzy across the crypto landscape on Tuesday, revealing a proposal to introduce Strategic Hub for Innovation in Blockchain (S.H.I.B.) in the U.S. Notably, the meme coin’s lead developer, Shytoshi Kusama, unveiled this proposal recently while also inviting “presidential candidates or interested parties” nationwide to jack up the endeavor. Meanwhile, another prominent community member, Kaaldhairya, called out on the U.S. presidential candidate Donald Trump and American billionaire Elon Musk, drawing their attention to the matter.
Shiba Inu Team Unveils S.H.I.B. Proposal
In an official X post dated November 5, Shytoshi Kusama proposed for S.H.I.B. (Strategic Hub for Innovation in Blockchain) in the U.S. Notably, this mover aims to transform the United States into an epicenter for blockchain technology and sustainable development. As the global race for blockchain and digital asset-based investments grows, this mover could be pivotal, the proposal spotlighted.
Further, the details in the proposal also rolled out a potential budget plan for the development of the strategic hub in the U.S. Encompassing key aspects such as infrastructure development, economic incentives, talent development, regulatory framework, building and overseeing sustainable practices, marketing and global outreach, the projected cost for the hub development is $1.3 billion – $2.35 billion over a 5- to 10-year period, per the plan revealed by Kusama.
In addition, this project also eyes outcomes such as job creation, startup attraction, employment growth, and technological growth, among other optimistic advancements. Overall, the proposal sparked a frenzy among market participants, also bringing attention to the meme coin Shiba Inu’s crypto venture.
Meanwhile, meme coins appear to have stolen the spotlight amid the ongoing U.S. presidential elections. Notably, Elon Musk’s Department of Government Efficiency (D.O.G.E.) saga has already injected significant optimism into Dogecoin, another leading dog-themed meme crypto. Recently, CoinGape media reported that the American billionaire tapped into U.S. Fed critic Ron Paul for D.O.G.E expertise, aiming to minimize government spending.
Exec Hollers At Trump & Musk Sparking Optimism Over SHIB Price
On the other hand, Kaaldhairya, another prominent member of the meme coin’s team, took to X, tagging Elon Musk and Donald Trump while reiterating Kusama’s statements. According to Kaal, this endeavor could bring “America’s very own ‘Crypto Valley’- Call it S.H.I.B., D.O.G.E.’s hyper-smart cousin that brings jobs, tech and a futuristic world!” Altogether, this statement has garnered significant attention across the broader market, echoing optimism for Shiba Inu’s future prospects.
Given the proposal garners support, the meme coin’s price action could also see a paradigm shift. Notably, SHIB price traded at $0.00001745, up 4% intraday in tandem with the announcement. The coin’s 24-hour low and high were $0.00001642 and $0.00001743, respectively. Crypto market enthusiasts continue to monitor the coin amid recent developments, expecting further shifts in the trajectory ahead.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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