Shiba Inu Lead Copies This Elon Musk Move

Shytoshi Kusama, the enigmatic Shiba Inu ecosystem chief, attracts inspiration from certainly one of Elon Musk’s initiatives.  

In an X post at this time, the Shiba Inu lead developer unveiled S.H.I.B, which seems equivalent to Elon Musk’s D.O.G.E proposal. Though each proposals mirror the tickers of the highest two meme cash by market cap, they maintain totally different concepts.

Distinction Between D.O.G.E and S.H.I.B 

For context, Musk proposed the D.O.G.E (Division of Authorities Effectivity) initiative to Republican presidential candidate Donald Trump. The initiative goals to streamline authorities operations and doubtlessly save trillions of {dollars} in tax spending.

Musk’s point out of this proposal on X positively impacted the worth of Dogecoin (DOGE). As reported yesterday, the worth of Dogecoin soared by 11%, including $2.5 billion to the asset’s market cap after Musk elaborated on the D.O.G.E idea. 

Weeks after Musk made the D.O.G.E proposal, Shiba Inu’s chief proposed the S.H.I.B initiative. S.H.I.B, which stands for Strategic Hub for Innovation in Blockchain, is Kusama’s proposal to the forthcoming president of the USA.  

The S.H.I.B initiative proposes that the forthcoming U.S. administration leverage blockchain to spice up totally different sectors of the nation, starting from safety to the economic system. Kusama believes this assist the USA create a ‘Silicon Valley of Crypto.’ 

Shiba Inu Lead Reminds Upcoming US President About S.H.I.B Proposal   

Kusama first proposed the S.H.I.B initiative earlier this week in a weblog submit. He highlighted the proposal at this time as a reminder to whoever turns into president.  

S.H.I.B.

— Shytoshi Kusama™ (@ShytoshiKusama) November 6, 2024

SHIB Sees Double-Digits Acquire as US Election Outcome Comes In  

It’s value mentioning that every one polls for the 2024 U.S. election have closed, with voters wanting ahead to who will turn out to be the subsequent president of the USA. 

Early outcomes present that Donald Trump, a powerful crypto advocate, is main the race by way of electoral votes by a very good margin. Related Press information present that Trump has a commanding lead of 248 electoral votes, whereas Vice President Kamala Harris of the Democratic Get together presently has 214. 

Apparently, the election result’s bullish on the crypto market as a result of Trump’s pro-crypto stance. To date, the full crypto market cap is up 9.94% in 24 hours to $2.49 trillion. Consequently, Shiba Inu (SHIB) has witnessed double-digit features of 10.42% previously day, with a token presently priced at $0.00001932.