Shiba Inu Price Up 4% Amid Bullish Signals and Governance Tensions

Shiba Inu (SHIB) has recently seen a 4% increase in price over the past 24 hours, with traders pointing to a potential 156% rally driven by bullish technical indicators. The price movement has been attributed to a divergence pattern on the daily chart, where price recorded lower lows while the MACD formed higher lows—often interpreted as an early sign of a trend reversal [1]. Analyst Javon Marks highlighted this divergence as a key signal, suggesting that SHIB could rise toward the $0.000032 resistance level if the upward momentum continues [1]. However, this projection is based on current conditions and is subject to change depending on how the market reacts to broader developments.

Amid the price action, internal governance issues are creating growing uncertainty among SHIB stakeholders. A recent proposal to elect an interim president has drawn criticism from members of the ecosystem, including projects such as WoofSwap. These voices argue that the timing of the election appears to be a distraction from more pressing priorities and may indicate poor leadership [1]. Additionally, concerns have been raised about the project’s foundation holding veto power, which some see as contradicting the principles of decentralization.

The election process itself involves three rounds: open nominations, public debates, and a final vote. The initiative, introduced by lead developer Shytoshi Kusama, aims to formalize leadership structures while maintaining community involvement [1]. However, detractors remain skeptical about how such a system can balance effective governance with true decentralization. Criticisms have also focused on unmet goals, such as increasing the number of validators and expanding user base, with some arguing that recent projects like SHY and POE may benefit specific individuals rather than the broader community [1].

The combination of rising price expectations and internal discord underscores the challenges SHIB faces in maintaining both community trust and long-term viability. While bullish indicators may attract traders seeking short-term gains, the sustainability of SHIB’s growth depends heavily on how the community navigates governance complexities. As the token approaches its projected $0.000032 target, the resolution of these internal tensions will likely play a decisive role in shaping investor confidence and the token’s future performance.

[1] https://cryptopotato.com/shiba-inu-shib-eyes-156-rally-as-governance-tensions-mount/