Donald Trump’s win came as a big boon to the cryptocurrency industry. The entire market witnessed a major shift into the bullish realm. While some are prepping for an uptrend, others have been waiting for a brand-new Securities and Exchange Commission (SEC). Amidst this, the cryptocurrency industry has been looking forward to Shiba Inu’s lead, Shytoshi Kusama’s economic pitch coming to life.
Also Read: Ethereum: Tron Founder Justin Sun Recommends Buying, Not Selling ETH
Revisiting Shytoshi Kusama’s Economic Plan
Shiba Inu’s lead developer, Shytoshi Kusama, put up a proposal for $2.35 billion to the president of the US. This was before Donald Trump won the elections. His Strategic Hub for Innovation in Blockchain (S.H.I.B.) aims to establish the first cryptocurrency hub in the United States. The Shiba Inu developer said,
“I propose a Strategic Hub for Innovation in Blockchain (S.H.I.B.). I invite either Presidential candidate and/or interested parties to reply if they support this ‘Silicon Valley for the Blockchain industry.“
According to Kusama, the initiative is expected to generate $5 billion in growth annually and create 20,000 new employment. It seeks to establish a specialized hub for blockchain development that combines digital and physical infrastructure, much like Silicon Valley. The plan by the SHIB lead proposes a twofold strategy for infrastructure development, which involves constructing state-of-the-art labs, safe data centers, and fast connections to accomplish this.
Also Read: De-Dollarization To End? Trump To Shield US Economy Using Bitcoin
Will This Propel Shiba Inu To Its Dream?
Shiba Inu has been on a notable uptrend. The meme coin rose by over 8% throughout the week. At press time, the asset was trading at 0.00001898 following a 1.72% spike over the past 24 hours.
The meme coin is currently 78% below its all-time high of $0.00008845. The asset was at this level about three years ago. Shiba Inu will need to rise by a staggering 52,614.81% rise to reach $0.01. This milestone has been on the cards for the asset for quite some time now. SHIB will have to witness a major spike to attain this peak.
Also Read: Expert Forecast: S&P 500 to Gain 11% by Mid-2025
Credit: Source link
