Shiba Inu News: US Politician To Buy SHIB, Welly's Announces New Stores – CoinGape

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The second largest memecoin by market cap, Shiba Inu has been making waves in the crypto world with recent news highlighting both community engagement and a high-profile supporter. There have been two significant developments after the release of its Rocket Pond trailer and metaverse updates: Welly’s announcement of new fully connected stores and US politician Shannon Bray expressing his support for Shiba Inu.
Welly, the Shiba Inu-themed eatery, recently unveiled plans to expand its presence with the opening of two new stores. The team behind Welly emphasized their dedication to community engagement and connectivity, ensuring that the new locations would be fully connected with their token holders. This announcement marks a significant milestone in Welly’s expansion plans and demonstrates its commitment to integrating the Shib community into its operations.
Shytoshi Kusama, the lead developer of Shiba Inu (SHIB), expressed his excitement in response to Welly’s announcement. Taking to Twitter, Kusama used the well-known crypto community slang “LFG” (Let’s Freaking Go) along with the bulging eyes emoji, showcasing his enthusiasm for Welly’s bold steps forward.
Read Shiba Inu’s Metaverse Updates On CoinGape..
According to Crypo Market Trends on Twitter, the SHIB token is currently holding above support levels and has an oversold RSI (Relative Strength Index). There has been a strong bounce observed from this support in the past, indicating a potential bullish rally.

Meanwhile, Shannon Bray, a prominent US gubernatorial candidate from North Carolina, has publicly expressed his support for Shiba Inu. Amidst the market turbulence, Bray took to Twitter to share his enthusiasm for the digital asset, stating,
“I get paid tomorrow, and I’m still buying SHIB.”
The conversation between Bray and SHIB KNIGHT, a well-known influencer in the Shib community, started when SHIB KNIGHT inquired about meme coins that people were investing in during the current meme coin season. In response, Bray confidently stated his intention to purchase more SHIB tokens, reaffirming his belief in the asset despite the availability of other options.
SHIB token has seen a slight increase in its value in the past hour and over the last 24 hours. As of now, SHIB is priced at approximately $0.00006862, showing a 0.20% rise in the past hour and a 0.77% increase over the last 24 hours.
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About the author

Anand Narayanaswamy

Anand Narayanaswamy

Anand is a seasoned journalist with over 15 years of experience in technology reporting. He holds a Master's degree in Computer Science and has worked with several leading tech publications. Anand oversees the editorial direction of The Hoops News, ensuring that the content meets the highest standards of journalism. In his free time, he enjoys reading about quantum computing and playing chess.