Shiba Inu (SHIB) saw a remarkable 40% price increase on November 10, following a bold proposal from lead developer Shytoshi Kusama to create a strategic blockchain innovation hub in the United States.
Kusama’s vision for the “Silicon Valley for crypto” aims to position the U.S. as a global leader in blockchain technology. He revealed the ambitious plan just days before the U.S. presidential election, estimating the project would require billions in investment.
Kusama explained, “Not just for Shiba, but as a way to have a Silicon Valley for crypto. I proposed this in hopes that the United States would move forward with embracing innovation and, in doing so, catch up to the rest of the world.”
The market responded enthusiastically to the proposal, pushing SHIB’s price to $0.00002727, up from $0.00001925—a 40% surge in 24 hours. Over the past week, the token saw a 65% increase, though it remains 68% below its all-time high of $0.00008616 from October 2021.
While the proposal contributed to the pump, the rally can also be attributed to the broader positive sentiment within the crypto market. The Shiba Inu foundation plans to officially present the proposal to the new administration, with Kusama suggesting that funds from their D.O.G.E. initiative could help support these innovations.
“This is a chance to let the world know we are still here, our technologies to be adopted, and proof that our innovations will benefit the globe,” Kusama stated.
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