Shiba Inu (SHIB) Poised for Rally as Shytoshi Kusama Teases Tron Partnership

• Shiba Inu’s top developer just teased a likely TRON partnership.
• The speculation from the community regarding the linkup is high, with a likely undertone on SHIB’s price.

Shytoshi Kusama, the pseudonymous lead developer of the Shiba Inu (SHIB) memecoin, hinted at a potential Tron DAO collaboration during the Token2049 blockchain event in Singapore. The news of the potential partnership fueled excitement within the community with expectations for an upcoming rally for SHIB.

Shytoshi Kusama’s Mysterious Post

On Thursday, Kusama released an X post with the caption, “#mood #Token2049.” This suggests that he attended the event in Singapore. Accompanying the post was a human figure sitting, wearing a hood and a mask, lying near his lap. 

The mysterious Shiba Inu leader wore a plastic ID with the logo of the Tron blockchain and “Tron DAO” inscribed on it. This gave the clue that Shiba Inu could be working on a potential partnership with Tron. Justin Sun, the founder of the Tron blockchain, was also present at the Token2049 blockchain event as one of its sponsors. 

#mood #Token2049 pic.twitter.com/9ihlUfSWwV

— Shytoshi Kusama (@ShytoshiKusama) September 19, 2024

As CNF discussed earlier, Kusama always emphasized the importance of establishing a decentralized structure within the Shiba Inu ecosystem. This aligns with Tron’s vision of creating a decentralized internet that allows users to create Decentralized Applications (dApps) without the need for centralized intermediaries.

Given that Shiba Inu and Tron share a common objective, a possible partnership is very possible. Meanwhile, Kusama, whose identity remains unknown, met the SHIB Army at the annual Web3 IVS 2024 conference in Kyoto. He was spotted wearing a hood, a katana, and two masks similar to the white one recently spotted with him at Token2049.

The Shiba Inu community has already started attempting to interpret Kumasa’s post, with the bullish sentiment impacting SHIB’s price. Shiba Inu, the second largest memecoin, demonstrated a 2.7% increase over the past 24 hours in trade at $0.00001447. 

Shiba Inu (SHIB) Poised for Rally

The current surge in SHIB’s price comes after it broke out of a symmetrical triangle pattern on Thursday. This pattern is formed by connecting multiple high and low levels with two converging trendlines, in this case, spanning mid-July to mid-September.

SHIB could rally 15% to retest the August 24 high of $0.000016 if the upper trendline of the symmetrical triangle around $0.000013 holds as support. Additionally, the Relative Strength Index (RSI) is at a neutral level of 50, implying a potentially limited resistance in a push for fresh rallies.

Shiba Inu could close above the weekly resistance of $0.000016 if the bulls show more aggression and the general market outlook remains positive. As such, the memecoin might extend the rise by another 20% to retest its July 16 high of $0.000020.

Moreover, the Moving Average Convergence Divergence (MACD) indicator supports SHIB’s rise, indicating a bullish crossover on the daily chart. 

IntoTheBlock’s In/Out of the Money Around Price (IOMAP) data further supports SHIB’s bullish outlook. At the time of writing, almost 10,580 addresses have amassed 44.45 trillion SHIB at an average price of $0.000014.