Shiba Inu Faces Decline Amid Calls for Unity and Community-Led Governance
Main Idea
Shiba Inu's price declined in early August after a July surge, with developer Kaal Dhairya emphasizing community unity and decentralized governance as key to overcoming challenges.
Key Points
1. Shiba Inu’s price dropped by 2.09% in early August, falling from $0.00001598 in late July to $0.0000116 by August 2.
2. SHIB is currently the 22nd largest cryptocurrency with a market capitalization of $7.17 billion.
3. Kaal Dhairya highlighted internal divisions and infighting as major obstacles and called for unity and empowerment of the SHIB DAO for democratic governance.
4. The recent price volatility is attributed to market-wide sell-offs and internal community challenges.
5. Shiba Inu’s drop from the top 10 cryptocurrencies is mainly due to market volatility and governance issues affecting its market capitalization.
Description
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