Shiba

Bitcoin

Shiba Inu

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-hits-70000-boosts-shib" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Hits $70,000, Boosts SHIB</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/expert-forecasts-bitcoin-correction-key-levels-and-strategic-insights" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price has surged past the $70,000 mark, significantly impacting the altcoin <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a>. Shiba Inu (SHIB) is one of the notable beneficiaries, experiencing a noteworthy price hike above the average. The general upward trend in altcoins has allowed Shiba Coin to stand out due to specific factors in its ecosystem.</p>
<h2 id="what-drives-shiba-and-shibarium">What Drives Shiba and Shibarium?</h2>
<p style="text-align: justify">Shibarium, an ambitious blockchain project launched last year, has shown mixed results compared to its testnet performance. However, recent <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> from Shibariumscan reveals a 50% increase in new transactions, rising from 5,150 to 7,691. This uptick in network activity has triggered short-term price movements for Shiba Coin.</p>
<p style="text-align: justify">The number of Shibarium users has also grown significantly, from 105,367 on May 1 to 113,732 by May 27, suggesting a resurgence in network interest. One of the major developments in May was the integration of ShibaSwap into Shibarium, which Shiba Inu developer Kaal Dhairya highlighted as a key milestone. He emphasized that the project is a marathon, not a race, and promised regular updates and upgrades.</p>
<h2 id="what-is-shiba-coin-s-price-outlook">What Is Shiba Coin’s Price Outlook?</h2>
<p style="text-align: justify">Shiba Coin, the second-largest meme cryptocurrency, has continued its upward trend with a 6% increase. The current Volatility Contraction Pattern (VCP) hints at a potential breakout. This technical formation, characterized by narrowing price fluctuations, is a strong indicator of an impending price surge.</p>
<p style="text-align: justify">The SHIB price is currently testing the $0.00002631 neckline. A successful breakout could see the price rise by 32%, targeting the resistance area at $0.00003282. However, failure to break out could result in a retreat to the $0.0000234 support level, with a further risk of falling to $0.00002052 if this support is also lost.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>Bitcoin’s surge to $70,000 is positively influencing altcoins like SHIB.</li>
 <li>Shibarium’s increased network activity and user growth indicate rising interest.</li>
 <li>The integration of ShibaSwap into Shibarium is a significant development.</li>
 <li>SHIB is exhibiting signs of a potential breakout based on technical patterns.</li>
 <li>Investors should watch for price movements around the critical $0.00002631 neckline.</li>
</ul>
<p style="text-align: justify">The total volume of cryptocurrencies has soared to $77 billion, marking a 41% increase. Bitcoin’s dominance has dropped to 53%, while Ethereum’s dominance has climbed above 18%, favoring altcoins.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-hits-70000-boosts-shib" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Hits $70,000, Boosts SHIB</a></h5>

Bitcoin Hits $70,000, Boosts SHIB

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