Shiba Inu Team postpones ShibaCon Conference, But SHIB Price Soars Over 40%

To the surprise of various community members, the Shiba Inu team has announced the postponement of the highly anticipated ShibaCon conference.

Shiba Inu was gearing up to host a global event, "ShibaCon," in Bangkok, Thailand, on November 9. The conference was designed to unite developers, supporters, and enthusiasts from around the world to discuss the project’s technological advancements and future ecosystem developments.

“We can’t wait to bring Web3 pioneers, developers, and the ShibArmy to the reimagined ShibaCon,” the team stated.

But the on October 14, the Shiba Inu team released a statement via its official SHIB social media account on X that the event will be indefinitely postponed until further notice. This announcement was broken just three weeks before the event, leaving the community wondering what has prompted the sudden change.

The Shiba Inu team added that the reason for the postponement was to ensure that the event would deliver a more favorable and exciting experience for participants.

While the delay may be disappointing for those who were eager to attend the conference, the Shiba Inu team are optimistic that the postponement was the best decision made to allow them to create a ShibaCon that surpasses expectations, bringing together Web3 pioneers, developers and the ShibArmy.

To make up for the convenience of the postponement to those who have already purchased tickets for the event, the Shiba Inu Team announced that they would be notified via email and received a full refund. The team also expressed gratitude to the community members who have supported them by giving them a free VIP ticket as compensation.

These VIP tickets will be issued once the new venue and date for the ShibaCon event is confirmed.

SHIB unaffected by the announcement

These announcements of the postponement has gathered mixed reactions, with fans expressing differing opinions about the unexpected change. Some members were excited about the VIP tickets, stating how lucky it was that they got these exclusive tickets for free, while others thanked the Shiba Inu Team for informing the community on time.

On the other hand, a significant number of community members criticized the team for the sudden change, calling the announcement a joke and speculating that the delay was because the team failed to sell enough tickets.

Interestingly, the conference postponement hasn’t dampened the momentum of Shiba Inu’s price. Over the past 7 days, SHIB has surged by over 6.6%, currently trading at around $0.0000188, with a market capitalization nearing $11 billion, according to CoinGecko data.

This price surge has brought relief to many SHIB holders. Data from IntoTheBlock reveals that 53% of investors are now in profit, while 43% remain underwater, and 3% are at break-even. This marks a significant improvement from September last year, when nearly 90% of SHIB holders were in the red

Most SHIB investors have held the token for more than a year, while 19% joined within the past 12 months, and only 2% entered the market in the last 30 days.