😱SHIB Boss Shytoshi is missing! 💥 What big events are behind Shiba Inu Coin?

The soul figure of Shiba Inu Coin (SHIB), Shytoshi Kusama, has been missing from X since early March

The soul figure of Shiba Inu Coin (SHIB), Shytoshi Kusama, has been missing from X since early March. His last activity was a retweet of the Astra Nova presale on March 7. The community is in an uproar: What is this anonymous marketing fanatic up to?

Shibarium member Lucie explained last Thursday: Kusama is busy with global promotion and has temporarily left social media. He previously revealed that he works 20 hours a day, vowing to push SHIB into the top five. He also took a break in May 2024 for family visits and became active again in December.

Fans speculate that Kusama may be low-key preparing a big move for Shibarium. An Astra Nova developer called out: "He is up to something big, the $SHIB army is about to get hyped!"

In other news, SHIB saw a 0.2% increase due to weekly burns, with 535 million coins burned in 7 days (+415%), totaling 410.49 trillion burned, leaving 589 trillion in circulation. On Saturday, it reached $0.0000128 (+1.6%), with a market cap of $7.5 billion (+1.5%), but the 24-hour trading volume fell 7% to $172 million.

Technical indicators are lukewarm: RSI 42.86 neutral, stochastic 38.73, CCI -35.78, mainly wait-and-see. The 50-day EMA is 0.00001530, and the 200-day EMA is 0.00001853, both pressuring the current price of $0.0000128. The 10-day momentum is -0.00000059 + net deposits surge, indicating clear short-term selling pressure.

Shiba Inu Coin's price saw a slight rise on Saturday as weekly burns continued and Shibarium integration news emerged.

The 24-hour trading volume for SHIB fell by 7% to $172 million. On the other hand, the market cap of Shiba Inu Coin rose by 1.5% to reach $7.5 billion.

Further, the price of SHIB showed a 1.6% increase as it climbed to $0.0000128.

Shiba Inu Price Analysis: Technical Indicators

The relative strength index (RSI) on the 14-day timeframe showed neutral readings at 42.86.

Stochastic oscillator readings also indicated bearish momentum with the %K line at 38.73 and the %D line at 40.48.

The Chaikin money flow (CMF) displayed strong outflows with readings at -35.78, mainly indicating seller dominance in the market.

The 50-day exponential moving average (EMA) provided some resistance to the current price at 0.00001530, while the 200-day EMA offered strong resistance at 0.00001853.

The 10-day momentum showed weakness with a value of -0.00000059, indicating persistent short-term selling pressure.

Shibarium Integration: Awaiting Updates

Shibarium, the highly anticipated Layer-2 blockchain powered by Shiba Inu, encountered difficulties shortly after its launch in March. As a result, the project faced criticism and faced setbacks in its development.

Shibarium is designed to process transactions more quickly and efficiently than the mainnet, aiming to reduce gas fees and improve the overall user experience within the Shiba Inu ecosystem.

The burning of SHIB tokens was a core part of the Shiba Inu community's culture. The initiative to burn SHIB aimed to reduce the token's circulating supply, which could, in turn, drive up its price.

Each week, the community eagerly awaited the updates on the total number of SHIB tokens that had been burned and the new milestones reached in this ongoing journey.

Despite the setbacks, the team at Shiba Inu remained committed to the project's development and were actively working towards its recovery. The community, too, showed unwavering support for SHIB and the broader ecosystem.