The lead developer of Shiba Inu has suggested that the upcoming TREAT token could revolutionize the meme industry.
An analyst has made a prediction that SHIB may reach $0.000081 in the short term once it surpasses three crucial resistance levels – $0.000033, $0.000046, and $0.000071.
The recent unexpected shift from meme coins to strong utility tokens has sparked a positive exchange between Moonrock Capital’s CEO, Simon Dedic, and Shiba Inu’s lead developer, Shytoshi Kusama. Dedic believes this shift will continue in the coming months, transforming the meme market significantly.
Kusama acknowledged this shift but noted that it was progressing slowly. He highlighted the anticipated TREAT token, designed to function as a meme and governance utility, as a key player in leading this transformation within the SHIB ecosystem.
TREAT, a new token created by the Shiba Inu team, aims to enhance user experience within the ecosystem by offering exclusive benefits and features. To tackle deflation, TREAT will include a burning mechanism to reduce the circulating supply and increase its value.
Ahead of the official launch, Kusama urged crypto investors to avoid any existing TREAT tokens to prevent falling victim to fake tokens. Lucie, Shiba Inu’s marketing lead, also warned against imitations in the market and advised investors to be cautious.
Shiba Inu’s price had a slight decline from its 5% weekly gain and was trading at $0.00001847 at the time of writing. Analyst Oscar Ramos believes the asset could climb to $0.000081 for several reasons, including the influence of Bitcoin’s price, the upcoming US election, and Shiba Inu’s price action compared to other assets like Dogecoin and Pepe.
Shiba Inu recently broke out of a symmetrical triangle, with analysts suggesting it would need to surpass key resistance levels at $0.000033, $0.000046, and $0.000071 to reach the projected price point.
