{"id":546879,"date":"2023-08-11T16:00:55","date_gmt":"2023-08-11T16:00:55","guid":{"rendered":"https:\/\/wncen.com\/?p=546879"},"modified":"2024-06-11T07:50:43","modified_gmt":"2024-06-11T07:50:43","slug":"shiba-inu-shib-rides-on-bullish-waves-as-shibarium-launch-nears-buy-now","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-shib-rides-on-bullish-waves-as-shibarium-launch-nears-buy-now\/","title":{"rendered":"Shiba Inu (SHIB) Rides On Bullish Waves As Shibarium Launch Nears, Buy Now?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">This cryptocurrency, Shiba Inu dog-inspired logo, has garnered significant attention in the crypto community.\u00a0<\/span><span style=\"font-weight: 400\">As the highly anticipated Shibarium launch draws near, Shiba Inu (SHIB) is riding on bullish momentum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In terms of the 7 days price gain, the meme coin is outperforming other notable assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE), representing less than 1% price increase. <\/span><span style=\"font-weight: 400\">Investors and enthusiasts are now considering whether to buy in as the project&#8217;s new development unfolds.\u00a0<\/span><\/p>\n<h2>SHIB Price Gains Momentum As Shibarium Nears<\/h2>\n<p><span style=\"font-weight: 400\">A recent examination of on-chain data by <\/span><span style=\"font-weight: 400\">IntoTheBlock<\/span><span style=\"font-weight: 400\"> <a href=\"https:\/\/wncen.com\/news\/surge-large-shiba-inu-transactions\/\" target=\"_blank\" rel=\"noopener \">exposed<\/a> a remarkable rise in transactions related to SHIB ranging from $100,000 to $1 million, demonstrating an astounding surge of 300% over the last month. <\/span><span style=\"font-weight: 400\">The current upward movement can also be linked to a <\/span><a href=\"https:\/\/blog.shib.io\/bone-the-passport\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">post by the main developer<\/span><\/a><span style=\"font-weight: 400\">, Shytoshi Kusama, on July 31.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/wncen.com\/news\/solana\/solana-cuts-saga-price-40-sol-ytd-high\/\" target=\"_blank\" rel=\"noopener \">Solana Cuts Saga Price By 40%, But Case For New SOL Yearly High Increases<\/a><\/p>\n<p><span style=\"font-weight: 400\">He stated that the launch of Shibarium is fast approaching, prompting the need to \u201cmint the remaining supply of BONE and renounce the BONE contract.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Recall that the lead developer of Shiba Inu, Shytoshi Kusama, <\/span><a href=\"https:\/\/blog.shibaswap.com\/mo-sui-sibainu\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">mentioned in a blog post<\/span><\/a><span style=\"font-weight: 400\"> on July 6 that the team plans to talk about and maybe launch Shibarium, the awaited layer 2 technology, at the ETHToronto and ETHWomen hackathons in Canada in August 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">He also shared a <\/span><a href=\"https:\/\/twitter.com\/ShytoshiKusama\/status\/13648896\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">statement<\/span><\/a><span style=\"font-weight: 400\"> directly on the X application: &#8220;Here&#8217;s a math equation for those who like math.\u00a0<\/span><span style=\"font-weight: 400\">I won&#8217;t make it long: Shib &gt; X.&#8221; Going by his timeline, the eagerly anticipated release of the Layer 2 Shibarium will be on August 15-16 as part of the ETH Toronto event.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Launching the long-awaited Shibarium will likely boost investors&#8217; interest and hype within the Shiba Inu ecosystem. <\/span><span style=\"font-weight: 400\">After Shibarium is launched, more people could want to invest in the $SHIB token, as it might create a new wave of excitement.<\/span><\/p>\n<figure style=\"width: 980px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/FXTYX7xD\/\" alt=\"SHIBUSD price chart\" width=\"980\" height=\"589\"><figcaption class=\"wp-caption-text\">SHIB&#8217;s price currently hovers at $0.00001005 in the daily chart. | Source: SHIBUSD price chart from <a href=\"https:\/\/www.tradingview.com\/chart\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Technical Indicators Signal Bullish Momentum<\/h2>\n<p><span style=\"font-weight: 400\">As the Shibarium launch nears, the coin experienced bullish sentiment evident in the 4-green candles on the daily chart. <\/span><span style=\"font-weight: 400\">According to the chart, SHIB\/USDT has approached <\/span><span style=\"font-weight: 400\">the upper Bollinger Bands indicator<\/span><span style=\"font-weight: 400\">, suggesting a high bullish pressure.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The upper Bollinger Band is a resistance level, indicating that the coin&#8217;s price might be challenging to sustain further upward movement without a pullback.\u00a0<\/span><span style=\"font-weight: 400\">A breach of the upper Bollinger Band could signal a continuation of the uptrend, but if the price fails to break through and starts to decline, it might indicate the beginning of a retracement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the RSI level at 69, the coin&#8217;s price might hover in the overbought territory, suggesting a potential slowing down or a reversal.\u00a0<\/span><span style=\"font-weight: 400\">However, the <\/span><span style=\"font-weight: 400\">MACD<\/span><span style=\"font-weight: 400\"> above the signal line indicates positive momentum and potential upward movement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">So the RSI indicates that the coin might be due for a corrective pullback, but the MACD suggests there is still buying interest.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/crypto\/bittrex-sec-reach-settlement\/\" target=\"_blank\" rel=\"noopener \">Bittrex, SEC Reach Settlement In Securities Violation Case<\/a><\/div>\n<p><span style=\"font-weight: 400\">Considering the analysis, the coin could observe a period of consolidation or a minor dip before a potential continuation of the upward trend.\u00a0<\/span><span style=\"font-weight: 400\">Traders should closely monitor price action, especially around key support levels at $0.0000077, and be prepared for potential short-term volatility.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As of today, Shiba Inu<\/span><span style=\"font-weight: 400\">\u00a0is trading<\/span><span style=\"font-weight: 400\"> at $0.00000105. According to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/shiba-inu\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko statistics<\/span><\/a><span style=\"font-weight: 400\">, it has advanced by 18% &amp; 24% over the last 7 and 14 days, respectively.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Pixabay and chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This cryptocurrency, Shiba Inu dog-inspired logo, has garnered significant attention in the crypto community.\u00a0As the highly anticipated Shibarium launch draws near, Shiba Inu (SHIB) is riding on bullish momentum.\u00a0 In terms of the 7 days price gain, the meme coin is outperforming other notable assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE), representing less than 1% price increase. Investors and enthusiasts are now considering whether to buy in as the project&#8217;s new development unfolds.\u00a0 SHIB Price Gains Momentum As Shibarium Nears A recent examination of on-chain data by IntoTheBlock exposed a remarkable rise in transactions related to SHIB ranging from $100,000 to $1 million, demonstrating an astounding surge of 300% over the last month. The current upward movement can also be linked to a post by the main developer, Shytoshi Kusama, on July 31. Related Reading: Solana Cuts Saga Price By 40%, But Case For New SOL Yearly High Increases He stated that the launch of Shibarium is fast approaching, prompting the need to \u201cmint the remaining supply of BONE and renounce the BONE contract.\u201d Recall that the lead developer of Shiba Inu, Shytoshi Kusama, mentioned in a blog post on July 6 that the team plans to talk about and maybe launch Shibarium, the awaited layer 2 technology, at the ETHToronto and ETHWomen hackathons in Canada in August 2023.\u00a0 He also shared a statement directly on the X application: &#8220;Here&#8217;s a math equation for those who like math.\u00a0I won&#8217;t make it long: Shib &gt; X.&#8221; Going by his timeline, the eagerly anticipated release of the Layer 2 Shibarium will be on August 15-16 as part of the ETH Toronto event.\u00a0 Launching the long-awaited Shibarium will likely boost investors&#8217; interest and hype within the Shiba Inu ecosystem. After Shibarium is launched, more people could want to invest in the $SHIB token, as it might create a new wave of excitement. Technical Indicators Signal Bullish Momentum As the Shibarium launch nears, the coin experienced bullish sentiment evident in the 4-green candles on the daily chart. According to the chart, SHIB\/USDT has approached the upper Bollinger Bands indicator, suggesting a high bullish pressure.\u00a0 The upper Bollinger Band is a resistance level, indicating that the coin&#8217;s price might be challenging to sustain further upward movement without a pullback.\u00a0A breach of the upper Bollinger Band could signal a continuation of the uptrend, but if the price fails to break through and starts to decline, it might indicate the beginning of a retracement.\u00a0 With the RSI level at 69, the coin&#8217;s price might hover in the overbought territory, suggesting a potential slowing down or a reversal.\u00a0However, the MACD above the signal line indicates positive momentum and potential upward movement.\u00a0 So the RSI indicates that the coin might be due for a corrective pullback, but the MACD suggests there is still buying interest.\u00a0 Related Reading: Bittrex, SEC Reach Settlement In Securities Violation Case Considering the analysis, the coin could observe a period of consolidation or a minor dip before a potential continuation of the upward trend.\u00a0Traders should closely monitor price action, especially around key support levels at $0.0000077, and be prepared for potential short-term volatility. As of today, Shiba Inu\u00a0is trading at $0.00000105. According to CoinGecko statistics, it has advanced by 18% &amp; 24% over the last 7 and 14 days, respectively. Featured image from Pixabay and chart from TradingView.com<\/p>\n","protected":false},"author":568,"featured_media":546892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[87793,89105,87680,84562,88435],"class_list":["post-546879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-dog-themed-crypto","tag-shib-price-analysis","tag-shibarium","tag-shibusd","tag-shina-inu"],"acf":[],"yoast_head":"\n<title>SHIB Rides On Bullish Waves As Shibarium Launch Nears<\/title>\n<meta name=\"description\" content=\"SHIB is outperforming other notable assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE), all down by almost 1%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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