Pseudonymous lead developer Shytoshi Kusama is expected to join a community vote in favor of increased SHIB burn contributions, adding deflationary pressures to the Shiba Inu price outlook.
The Bone meme coin X account shared the “huge progress” made on the vote, tagging Kusama in what has been interpreted by speculators as support in favour of Shiba Inu.
The vote tackles how to allocate BONE gas fees, whether to buy and burn BONE itself or use it to burn SHIB tokens, and in what proportions.
The current frontrunner, with 234,000 BONE contributed, suggests a dynamic model: burning 100% BONE when it’s under $2, and 100% SHIB when BONE trades above $2.
Shibarium community vote results. Source: Shib.io.Despite claims of stepping away from the project to let community governance take the lead, Kusama’s influence could still tip the scales in favor of a flat 100% SHIB burn, currently just under 11,500 votes.
Shiba Inu Price Analysis: Could BONE Help SHIB Hit $10?
A potential constant 100% allocation of BONE fees to burn Shiba Inu could significantly increase deflationary pressures for the token.
While this is unlikely to trigger explosive gains, it does improve the long-term outlook, putting higher targets like $10 in focus from its current large $8 billion market cap as volatility thins.
In the short term, these improved fundamentals could act as a market-warming catalyst for SHIB, which is currently struggling with weak demand.
SHIB / USDT 4-hour chart, double bottom. Source: TradingView, Binance.After topping out at $0.000016, SHIB has cooled off as profit-taking triggered a shakeout of weak hands and buyers failed to re-enter with conviction.
The RSI has been rejected from the neutral line after seller exhaustion created an opportunity for a continuation of the uptrend, now plummeting back towards 30.
The MACD has also formed a death cross, falling below the signal line in an early indication of a short-term downtrend on the 4-hour chart.
It seems a retest of the immediate support at $0.0000131 will be the natural next step as sellers approach exhaustion again, setting up a potential reversal level.
Still, this doesn’t invalidate the broader uptrend structure. A potential double bottom formation remains in play, with $0.0000177 as the neckline.
With altcoin season sentiment on hold, but not benched, the return of demand for BONE and SHIB could help the breakout unfold with increased token use and transaction fees.
If fully realized, the pattern sets a measured move target at $0.000025, an 83% gain from current levels.
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The post Shiba Inu Price Prediction: SHIB Lead Dev Shytoshi Kusama Backs Burn Vote – SHIB to $10? appeared first on Cryptonews.
