Shiba Inu Surges 357% as Logo Controversy Grows

• Shiba Inu’s price rebounded 7% in the last two weeks with new wallet addresses surpassing 4,000 daily.
• Designer Sveinn Valdimarsson is opposing SHIB token’s logo use due to commercial purposes.
• The popularity of this memecoin is increasing despite the controversy with it trading at $0.00000769 and a weekly 1.2% gain.

Shiba Inu Surges 357% in New Addresses

Shiba Inu (SHIB) has seen a surge in newly registered wallets on Ethereum (ETH). Daily new addresses reached over 4k on June 27th, up 357% from its 877 quarterly low on May 21st. At press time, Shiba Inu (SHIB) trades at $0.00000769 according to CoinGecko, trading in linear consolidation for the past 24 hours and fetching slight 1.2% gains in weekly terms.

Logo Controversy

The original Shiba Inu logo was created by Icelandic designer Sveinn Valdimarsson who is now contemplating legal action against SHIB Token due to their commercial usage of the logo without his permission. He noted that collaborations such as Tangem hardware wallet manufacturer are making $77 per unit while Shibacals physical merchandise studio puts the Shiba Inu mascot on Champion hoodies without his consent or compensation for it’s use.

Trademarked Logo

Interestingly, the designer permitted a vegan restaurant in Chiang Rai to use the logo but not another fast food restaurant in Australia who attempted to make a deal with him but failed to reach an agreement – they carried on using the SHIB logo despite his legal claims . On the Flipside SHIB Token insists that all trademarks are obtained legally and that any disputes will be settled out of court if needed so as not to risk any potential damage to their growing brand image .

Recent Performance

Despite this ongoing controversy, Shiba Inu’s popularity is continuously increasing with its price rebounding 7% in the last two weeks and upsurge in newly registered wallets reaching 4K a day . It was priced at $0.00000858 when this trend started , marking the highest point of Q2 according to blockchain analytics enterprise IntoTheBlock’s quarterly report .


Shiba Inu’s performance indicates that it’s popularity is here to stay despite some controversy surrounding its logo usage as both newly registered wallets and its market value continue rising steadily .