Shiba Inu (SHIB) price has remained sluggish despite the ongoing bullish sentiment in the crypto market. While several major cryptocurrencies have registered strong gains, SHIB’s price has struggled to maintain momentum. Investors are now questioning why the token has failed to rally and what could be expected for SHIB in the coming weeks. Shiba Inu Price Struggles Amid Market Recovery Shiba Inu’s price has been under pressure, reflecting the broader uncertainty in the meme coin sector. As of today, SHIB is trading at $0.00001564 with a 3.44% decline over the last 24 hours. Concurrently, the Shiba Inu price is still down nearly 34% from its recent monthly highs and 17% down from the weekly high, indicating weak bullish strength. SHIB/USD 1-day price chart (CoinMarketCap) Concurrently, the funding rate for SHIB futures contracts indicates a neutral market sentiment. Unlike assets with strong bullish momentum, SHIB has not seen a spike in demand for long positions. This suggests that traders remain cautious, waiting for clearer signals before committing to new positions. Additionally, SHIB’s on-chain activity has been mixed. While SHIB burns have increased by 567% recently, they have not translated into significant price movements. Large transactions involving SHIB have also dropped by 61%, indicating reduced whale activity. Allegations Against SHIB’s Lead Developer Shiba Inu’s price movement has also been affected by recent controversy surrounding its lead developer, Shytoshi Kusama. Accusations from @shibburn, a well-known SHIB burn tracker, have stirred uncertainty in the community. The account accused Kusama of misleading investors and improperly endorsing projects outside the SHIB ecosystem. One of the key claims is that Kusama has been involved with the SHY token, a new cryptocurrency launched on the Solana blockchain. While SHIB’s core team has denied any formal links, Kusama’s interactions with the token—including burning half of its supply—have fueled speculation. @shibburn also criticized other projects like K9 Finance, alleging that they falsely present themselves as official Shiba Inu initiatives. “These two are not leaders of SHIB, they have no authority to assign any project as ‘Official’ including their own projects,” @shibburn wrote on X. The accusations have led to increased scrutiny of Shiba Inu’s leadership, causing some investors to adopt a cautious stance hence the Shiba Inu price drop. However, Kusama has not directly responded to these allegations, and the SHIB community remains divided on the issue. Shiba Inu’s UAE Partnership & Future Prospects Despite the controversy, Shiba Inu has made notable progress in expanding its ecosystem. The project recently announced a partnership with the United Arab Emirates (UAE) Ministry of Energy and Infrastructure (MoEI) to integrate Web3 solutions into government services. The partnership aims to implement ShibOS, Shiba Inu’s blockchain-based operating system, into key sectors such as energy and infrastructure. According to Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, this collaboration will help “deliver transformative solutions that benefit both our citizens and the wider community.” This marks the first time a national government has adopted blockchain technology at the federal level, making it a notable development for Shiba Inu. While the news initially boosted Shiba Inu price, the gains were short-lived, suggesting that traders are waiting for more tangible progress. What’s Next for SHIB Price in February? Shiba Inu’s price performance in the coming weeks will depend on multiple factors. The Shibarium layer-2 network could play a key role if adoption increases. Additionally, upcoming developments related to ShibOS and SHIB’s UAE partnership could attract more investors and push Shiba Inu price towards the $0.01 target. However, the meme coin market remains highly volatile, and Shiba Inu price ability to break out of its current range will depend on overall sentiment. If buying pressure increases, analysts suggest that SHIB could test resistance at $0.000018 and eventually erase a zero , while a further dip could see the price retest support at $0.000012. The post Why is Shiba Inu Price Lagging This Bull Run & What’s Ahead for SHIB This Month? appeared first on CoinGape .
