Here’s Why Shiba Inu’s Conference ShibaCon Got Postponed (Details)

TL;DR

Change of Plans

Shiba Inu was about to hold a global conference in Bangkok, Thailand, on November 9. The gathering, called ShibaCon, aimed to bring together developers, supporters, and enthusiasts from around the world to discuss the project’s technological progress and potential ecosystem developments. 

Recently, though, the team behind the meme coin postponed the event “to secure an even more exciting experience” for users. 

“We can’t wait to bring Web3 pioneers, developers and the ShibArmy at the next reimagined ShibaCon,” the announcement reads.

The team assured that all ticket holders will receive an email and full refund. They will also get VIP tickets for free when the new place and dates get disclosed. 

The announcement left users with mixed feelings, with some suggesting the interest in the conference was not so high, hence the postponement. Others, though, considered themselves lucky to receive the best tickets in the future gathering free of charge. 

SHIB Price Rally

The postponed conference (disclosed earlier this week) did not negatively impact the valuation of the meme coin. In fact, SHIB has been on the run in the past month, with its price soaring by over 40%. It currently trades at around $0.00001867 (per CoinGecko’s data) with a market capitalization of approximately $11 billion.

Those willing to explore some of the reasons that have potentially fueled Shiba Inu’s rally can take a look at our detailed article here.

The resurgence has benefited numerous holders of the meme coin. According to IntoTheBlock, 53% of its total investors currently sit on some paper profits. 43% are underwater, whereas only 3% are break-even. The situation looked much worse in September last year when almost 90% of all SHIB holders were in the red.

Most investors (nearly 80%) hopped on the bandwagon more than a year ago. 19% did so in the past 12 months, while a mere 2% joined the ecosystem in the last 30 days.