Shiba Inu dev proposes crypto strategic hub in the US, SHIB pumps 40%

Shiba Inu is on the rise after lead developer Shytoshi Kusama proposes a strategic blockchain innovation center in the US

The announcement coincided with a major price increase for Shiba Inu (SHIB).

Shiba Inu developer shares his vision

Kusama unveiled an ambitious proposal to create a “Silicon Valley for crypto” just days before the US presidential election.

The proposed strategic center is estimated to cost several billion dollars. This plan aims to position the United States as a global leader in blockchain innovation.

Kusama said:

“I proposed this as a way to have a Silicon Valley for crypto, not just Shib, in the hopes that the United States would move forward in embracing innovation and in doing so catch up with the rest of the world.”

Shiba Inu pumps 40%

The market responded enthusiastically to this offer. The price of SHIB increased by 40% in 24 hours, reaching $0.00002727.

The token’s trading range increased from $0.00001925 to $0.00002768, while weekly gains exceeded 65%.

Source: CoinGecko

Despite the impressive increase, SHIB remains 68% below its October 2021 all-time high of $0.00008616.

The recent increase cannot be directly attributed to Kusama’s offer. One of the main reasons for this may be general crypto bullish market conditions.

The Shiba Inu foundation plans to formally submit the proposal to the incoming administration, arguing that funds raised through the DOGE initiative could support these innovations.

“This is a chance to let the world know that we are still here, our technologies to be adopted, and proof that our innovations will benefit the world,” Kusama emphasized.