Shiba Inu Lead Developer Rejects Sell-Off Amid Crypto Market Volatility

• Shiba Inu drops 16.72% as Bitcoin falls 11.18%, hitting $91,220 after three days of losses.
• Shytoshi Kusama rejects panic selling, urges focus on Shiba Inu’s ecosystem growth.
• Shiba Inu’s modular “36 Chambers” design bridges Web 2.0 and Web 3.0 innovations.

Shytoshi Kusama, the lead developer of Shiba Inu, has recently oppossed the growing sentiment of “sell everything” in the cryptocurrency market with its current volatility. This backlash comes after X user “The Don Landoni” tweeted that the market was doomed and urged investors to sell all their assets.

Price of Shiba Inu Affected by the Decline in Bitcoin Prices

Bitcoin’s price dropped 11.18% to $91,220, impacting the broader crypto market, particularly meme coins like Shiba Inu, following a three-day consecutive decline. SHIB dropped 16.72%, falling from $0.00002458 to nearly losing the $0.00002 mark. Amid this decline, Landoni’s call to sell everything in the market echoed widely, particularly in light of Bitcoin’s downturn.

However, Kusama disagreed with this strategy, taking to social media with a simple “No” accompanied by a humorous GIF. Kusama’s response highlights his long-term approach, emphasizing the importance of patience and stability rather than reacting to short-term price changes.

Kusama Advocates for Long-Term Vision and Shiba Inu’s Evolution

Despite facing market fluctuations, Kusama has expressed confidence in the Shiba Inu ecosystem’s future. He reminded the community that the development of innovative decentralized systems requires time and careful planning. Shiba Inu’s modular design, known as the “36 Chambers,” allows users to selectively engage with different components of the ecosystem. This design strategy addresses common challenges in decentralized systems that lack a coherent structure, thus positioning Shiba Inu as a bridge between Web 2.0 and Web 3.0.

While acknowledging that the development of the metaverse and AI integrations had been delayed, Kusama urged stakeholders to maintain a long-term perspective. His message focuses on building a robust ecosystem, ensuring the longevity of the Shiba Inu project despite short-term market fluctuations.

Kusama’s Defiance Against Criticism and Commitment to Growth

In a passionate episode of the Limited Edition podcast, Kusama responded to critics who questioned Shiba Inu’s progress. The podcast, titled “Meme Mania and the 36 Chambers of Tech,” featured Kusama addressing the ongoing negative sentiment surrounding the project. Despite facing constant criticism, Kusama underscored Shiba Inu’s 2024 success, which includes its strong market position, top search popularity, and leadership in the e-token sector.

Kusama rejected accusations of mismanagement and fraud, calling out individuals spreading fear, uncertainty, and doubt (FUD). He emphasized that Shiba Inu’s decentralized nature and global team had ensured its growth and success. He also questioned the motives of critics, who he believes aim to manipulate market prices or promote fraudulent projects.