Shiba

Shiba Inu

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<p>Shiba Inu (SHIB), the second most popular meme cryptocurrency, is once again <a href="https://twitter.com/Jake__Wujastyk/status/1732238407487693031" rel="noopener noreferrer nofollow">catching</a> traders' eyes. A recent analysis by market expert Jake Wujastyk points to a potential breakout.&nbsp;</p>
<h2 id="breakout-or-fakeout">Breakout or fakeout?&nbsp;</h2>
<p>The candlestick chart he published on TradingView indicates that <a href="https://u.today/shiba-inu-shib-13-price-increase-whats-next-and-new-target" rel="noopener noreferrer nofollow">SHIB</a> could be on the brink of an upswing. The chart shows SHIB's price movements within a descending trendline that has been in place for several months.&nbsp;</p>
<p>However, the latest price action suggests a bullish reversal, with the price poking through the trendline, which traditionally signals that a positive trend could be underway.&nbsp;</p>
<blockquote>
 <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> <a href="https://twitter.com/hashtag/Shib?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Shib</a> <a href="https://twitter.com/hashtag/Shiba?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Shiba</a> Another 🐶 coin breaking out. <a href="https://t.co/IYwK5vlc0b" rel="noopener noreferrer nofollow">pic.twitter.com/IYwK5vlc0b</a></p>— Jake Wujastyk (@Jake__Wujastyk) <a href="https://twitter.com/Jake__Wujastyk/status/1732238407487693031?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 6, 2023</a>
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<p>This is supported by a modest price increase of 3.5%, pushing SHIB's market cap to $5.5 billion, as per CoinGecko data.</p>
<h2 id="shibarium-s-record-breaking-activity-spurs-optimism">Shibarium's record-breaking activity spurs optimism</h2>
<p>On the technological front, <a href="https://u.today/shibarium-transactions-at-all-time-high-whats-really-happening" rel="noopener noreferrer nofollow">Shibarium</a>, Shiba Inu's Layer-2 scaling solution, is causing a stir in the crypto community with its recent resurgence.&nbsp;</p>
<p>After a period of dormancy, Shibarium has exploded back onto the scene, setting a new benchmark by processing a remarkable 7.4 million transactions in a single day, and over 12.5 million in two days.&nbsp;</p>
<p>This surge in activity follows a period of lesser engagement, making the network's comeback all the more striking. The platform's newfound vitality is apparent, with transaction counts far exceeding previous records set in late October.</p>
<p>In the cryptocurrency world, where the line between hype and substance can often blur, the developments around Shiba Inu's SHIB token and its Shibarium platform present a curious case. Despite Shibarium's impressive performance, the direct impact on SHIB's price remains moderate.&nbsp;</p>

This Trader Is Bullish on Shiba Inu (SHIB)

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