Show

Treat

Shiba Inu

Coin

<p><strong>The Shiba Inu Coin ecosystem is one of the emerging ones on the market with a series of exciting developments. Shaitoshi, a leading figure in the Shiba Inu community, is slated to deliver a speech at an imminent youth conference, promising to shed light on the recent advancements and forthcoming releases within the ecosystem.</strong></p> 
<p>Today, we delve deep into the intricate world of SHIB’s price analyses and forecasts, while unraveling the exciting developments unfolding within the Shiba Inu ecosystem.</p> 
<h2 class="wp-block-heading" id="shib-s-price-downtrend-is-not-concerning">SHIB’s Price: Downtrend is not concerning?</h2> 
<p>The Shiba Inu Coin has performing positively on the charts, demonstrating an encouraging momentum. Notably, the Shiba Inu Coin has seen an uptick in its burn rate and a significant fluctuation in trading volume, swinging from under 100 million to 300 million within a brief period.</p> 
<p>As we delve into the analysis, the first point of interest is the resistance level that the price is currently nearing. The mark of 0.00000839 holds significant weight – it’s a crucial threshold that needs to be overcome, yet it has proven to be a formidable barrier. Despite two previous attempts, the price has not managed to break through this level.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="447" src="https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-1024x447.png" alt="" class="wp-image-294630" srcset="https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-1024x447.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-300x131.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-768x335.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-1536x670.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-2048x894.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-344x150.png 344w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-100x44.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-802x350.png 802w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355-788x343.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/07/image-355.png 1462w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>Next, we observe the formation of a rising wedge pattern. Traditionally, this is considered a bearish chart pattern and could potentially signal a price drop back to its base. </p> 
<p>Finally, it’s worth noting that we are currently in the initial phase of a bull market. While a downward trend might seem concerning, it can actually <strong>serve to establish a stronger foundation for the bull run.</strong> The possibility of a double bottom occurring is not far-fetched, given that the price target of the rising wedge coincides with the double bottom’s price target. This could potentially mark the commencement of the bull market’s second phase, which could trigger a significant surge in prices.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Average Return Of Crypto ICOs &amp; Presales Is 1320%! Don’t Miss Out 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p><strong><a rel="noopener noreferrer nofollow" href="https://bit.ly/wsm_box" target="_blank">Discover</a></strong> the new crypto hits, memecoins and hyped projects before they hit the markets. Invest in the new SHIB or PEPE <strong><a rel="noopener noreferrer nofollow" href="https://bit.ly/wsm_box" target="_blank">Wall Street Memes token</a></strong> or explore the promising <strong><a rel="noopener noreferrer nofollow" href="https://bit.ly/YPRED_ca" data-type="URL" data-id="https://bit.ly/YPRED_ca" target="_blank">High-Potential Token, $YPRED</a></strong>, project that aims to empower the world’s first “All-in-One” AI Ecosystem. <strong><a rel="noopener noreferrer nofollow" href="https://bit.ly/wsm_box" data-type="URL" data-id="https://bit.ly/wsm_box" target="_blank"> Seize the chance</a></strong> to be a part of the crypto phenomenon and potentially benefit from its success.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>In the last 24 hours, SHIB has seen a slight increase of 2.16% in its price, bringing it to $0.000007905. The trading volume for the same period was $113,458,666, indicating a significant amount of trading activity around this cryptocurrency. The coin’s market cap stands at $4,658,707,461, making it one of the top cryptocurrencies by market cap.</p> 
<p>In terms of recent price movements, SHIB opened at a price of $0.00011057 on July 20, 2023, and closed at $0.00010906.</p> 
<h2 class="wp-block-heading" id="developments-in-the-shiba-inu-s-ecosystem">Developments in the Shiba Inu’s ecosystem</h2> 
<p>The much-anticipated Shiba Inu whitepaper is on the horizon, with expectations of its release preceding the launch of the Shiba Inu blockchain, Shibarium. This blockchain is set to be a game-changer, with the team working tirelessly alongside Nodes to iron out any potential issues. Indications from a recent Twitter post suggest that the ShibaRium launch might be closer than anticipated, sparking excitement within the community.</p> 
<p>As the youth conference approaches, the anticipation within the Shiba Inu community is palpable. The success of the Shibarium launch and the competitiveness of its transaction fees with other platforms such as Arbitum, Solana, and Matic could mark a turning point for the Shiba Inu ecosystem.</p> 
<p>Moreover, the Shiba Inu ecosystem is not stopping at Shibarium. Several other projects are in the pipeline, including Treat and Shiba Inu’s metaverse, among others. These developments are a testament to the team’s commitment to building a robust and dynamic ecosystem.</p> 
<h2 class="wp-block-heading" id="conclusion">Conclusion</h2> 
<p>The Shiba Inu Coin ecosystem is demonstrating a dynamic blend of community engagement, technical advancements, and market potential. While the immediate future may present some challenges, as indicated by the resistance level and the formation of a bearish rising wedge pattern, these could serve as stepping stones toward a more robust bull market.</p> 
<p>As these developments unfold, it will be fascinating to see the impact they have on the broader crypto market. As always, it’s crucial for investors to conduct thorough research and exercise caution, given the inherent risks associated with the crypto market.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/shiba-inu-shib-price-nears-crucial-resistance-whats-next-for-investors/">Shiba Inu (SHIB) Price Nears Crucial Resistance: What’s Next for Investors?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Shiba Inu (SHIB) Price Nears Crucial Resistance: What’s Next for Investors?

Table of Contents

CaptainAltcoin

Other articles published on Jul 21, 2023

Majority of All Crypto Workers Are in the US: Research

Ethereum Metrics Hint at Future ETH Rise Above $2,000 and Higher: Santiment

McDonald’s Hong Kong unveils McNugget metaverse

Ethereum Price Analysis: Will Ethereum Fall or Rise?

Blockchain Association criticizes new US DeFi regulation bill

Canadian authorities issue warning as home invasions target high-value Crypto investors

Join our free newsletter for daily crypto updates!