Bitcoin‘s robust resurgence fuels a market revival, lifting the crypto sector, and Ethereum breaks past $3,000 for the first time in nearly two years. Amidst this positive trend, we turn our focus to Shiba Inu (SHIB), the second-largest meme coin by market cap, exploring its current trajectory and potential future value.
Shibarium Network Sparks Interest
Despite the anticipated launch of the Shibarium mainnet being postponed until year’s end, recent activities have rekindled excitement. Shibarium’s daily transactions have impressively crossed the 3 million mark, bolstering the network’s vibrancy. The sustained involvement of over 1.3 million wallets hints at growing adoption and interest in the ecosystem, with transactions significantly rising from a recent count of around 1 million.
The community supporting Shiba Inu is witnessing a spike in ecosystem engagement, with the NFTs known as SHEboshis and the KNINE tokens driving much of the activity. This heightened activity is poised to impact SHIB’s pricing, provided the momentum endures.
Market Speculations on SHIB’s Price Movement
Currently, SHIB trades at $0.00000972, eyeing the critical $0.00001 resistance level that could trigger a market rally. Despite a recent drop influenced by Bitcoin’s fluctuations, there’s potential for both decline to support levels and a test of lower resistance, as well as an optimistic surge beyond current barriers.
The possibility of SHIB’s value climbing over $0.00001046 and tackling the $0.00001143 resistance is contingent on market dynamics and the coin’s ability to maintain upward momentum. An optimistic scenario sees SHIB reversing its downtrend with closures above these pivotal levels.