<a href="https://en.bitcoinhaber.net/bitcoin-analyst-predicts-bitcoin-could-surpass-40000″>Bitcoin managed to break through resistance levels one by one and rise above $42,000. While investors were curious about whether the $38,000 resistance would be broken or not, the price suddenly jumped to $42,000. Despite being the second largest meme coin, Shiba Coin has not seen any significant increase in its price and is trading around $0.0000088. Although the burning rates of Shiba Coin have increased in percentage, they have not had a significant impact in terms of dollars.
Shiba Inu’s Layer-2 network, Shibarium, has surpassed 20 million total transaction count. Although the increase in network activity is positive for the price, this increase needs to be sustainable. The number of active users has increased from 1,310 to 6,836, and the number of new users has also increased by approximately 3,400. However, if this trend is not sustainable, hopes for Shibarium may diminish even further.
SHIB recently reached a value of $0.00000965, and the withdrawal of 5.7 million tokens from the Binance exchange supported price speculation. Although the projects have not been completely successful, the Shiba Coin team has been the most successful meme coin in building its ecosystem. Doge and others have struggled to produce tangible products for vaccines, DeFi, and NFT initiatives.
The efforts of the Shiba Coin team and the possibility of Shibarium activity showing stable improvement in the future can increase motivation. Analyst CryptoKaleo recommends not giving up on Shiba Coin after examining the current Shiba Coin chart.
The analyst is targeting levels of $0.000016 and $0.0000220. In the coming days, investors will be watching Shibarium network activity reports and whether BTC remains strong, as increased activity can support BTC.