Shiba

Arbitrum

Shiba Inu

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Shiba Inu (SHIB) price is at a major inflection point that might spark the start of a bullish ride. At the time of writing, the cryptocurrency has&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">slumped</a> by 3% in 24 hours to $0.000008908, a trend also showcased in its market capitalization, which is now worth $5,296,610,033. With the current outlook, the price of Shiba Inu has just printed a clean slate through which major movements are poised to trail moving forward.
Shiba Inu has recorded a roller coaster ride in its price action over the past month, soaring from a low of $0.00000846 to a high of $0.00001049. Since it hit this high price level on Jan. 11, the token entered a downward spiral to its current level today. With the consistent sell-off in SHIB, the price is now likely approaching its floor price, from which&nbsp;<a href="https://u.today/shiba-inu-shib-surges-99-in-interesting-whale-activity-pickup" rel="noopener noreferrer nofollow">a rebound is expected</a> in the short term.
Shiba Inu’s stunning comeback projections might first be likely to retest the $0.00001 price level, and from there, chart a way up toward its previous ATH. The trading volume is already hinting at this impending surge as it is up 15% in 24 hours to $71,102,901.
<h2 id="shibarium-catalyst">Shibarium catalyst</h2>
Since the launch of Shibarium, Shiba Inu's Ethereum-based layer-2 scaling solution, the performance of Shiba Inu has been closely linked to trends in this protocol.
In recent times, Shibarium hit a&nbsp;<a href="https://u.today/shibarium-just-secured-new-massive-milestone" rel="noopener noreferrer nofollow">record block count above three million</a>, a sign that shows its continuous usage in the face of stiff competition from other rival protocols like Polygon, Arbitrum and zkSync.
With&nbsp;<a href="https://u.today/shiba-inus-shibarium-skyrockets-254-in-new-accounts-activity" rel="noopener noreferrer nofollow">the advances in Shibarium</a>, the network’s demand for SHIB may increase over time to stump the sell-off pressure in the token and return it to its winning ways. Overall, the token might soar more than 7.42% this month, a surge that will help it clear one zero, as it has always strived for.

Shiba Inu (SHIB) Might Pull off Stunning Comeback as Price Approaches Floor

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