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The dog-themed meme coin Shiba Inu has seen a turbulent price rise in recent weeks. Despite predictions of a rally in June, the meme coin’s historic downtrend even continued into July. The coin’s inability to rise back to March levels, when it was trading at $0.00003592, potentially sparked criticism from some investors.
Kusama calls for patience
However, Shytoshi Kusama, the mysterious leader of Shiba Inu, wrote an epic response to a critic who called the SHIB team’s work “lies exposed.”
Critic Moa (Moa3335) on X had stated that all the roadmaps and talks from the SHIB team were mere talks and did not contain any details about the “burning plan” for the rise of the meme coin.
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Kusama clarified that SHIB has detailed roadmaps with the problems and solutions to address them. However, he noted that the Shiba Inu team will not discuss timelines with the community for obvious reasons. He assured the critic that they are working on things in real time to solve the challenges the meme coin is facing.
The top developer pointed out that investors and other stakeholders need to look at SHIB’s achievements over the years from a broader perspective and pledge their support instead of heaping criticism on the development team.
“What we have achieved and will continue to achieve is to eclipse other tokens in your feed, and we still face criticism like this. This is the most frustrating part of building the future. I hope you finally see the magnitude of what we have achieved and how the pieces work together for the benefit of humanity,” Kusama explained in Arabic.
Market concerns over lack of upward momentum
While Shytoshi Kusama continues to ask for patience and understanding, analysts say the meme coin’s price action continues to worry investors.
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The Shiba Inu community had expected a price increase after marketing director Lucie posted that Kusama would speak at the Blockchain Futurist Conference 2024 on August 13.
However, the bullish rally that Shiba Inu experienced at a similar conference in 2023 failed to materialize. According to data from CoinMarketCap, Shiba Inu was trading at $0.00001352 at the time of writing, down 2.19% in the last 24 hours.
