{"id":548210,"date":"2023-08-21T12:00:04","date_gmt":"2023-08-21T12:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=548210"},"modified":"2024-06-11T07:47:16","modified_gmt":"2024-06-11T07:47:16","slug":"how-high-shiba-inu-shib-rise-shibarium-restarts","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/how-high-shiba-inu-shib-rise-shibarium-restarts\/","title":{"rendered":"How High Can Shiba Inu (SHIB) Rise When Shibarium Restarts?"},"content":{"rendered":"

Shibarium, the much-anticipated layer-2 network of Shiba Inu is back online but remains under the radar, confined to an extensive private test phase. Shytoshi Kusama, the project’s lead developer, unveiled this update<\/a> on Saturday. In his remarks, Kusama assured the community that they have resolved all technical challenges previously encountered on this layer-2 platform.<\/p>\n

Kusama mentioned, \u201cShibarium is currently live (but in private mode) producing blocks as normal.\u201d He further emphasized the importance of ensuring optimal scaling and functionality before a public re-release, suggesting that the SHIB development team is prioritizing caution above all.<\/p>\n

Notably, Shibarium’s initial launch wasn’t without its issues. Block production had come to a standstill on the network just last week. Shibariumscan, the network\u2019s designated explorer, indicates that the most recent block on the Shibarium mainnet was produced on Thursday.<\/p>\n

Related Reading: Shiba Inu Whale Transfers 4.6 Trillion Tokens After A 24-Hour Safekeeping<\/a><\/div>\n

However, among the many challenges faced<\/a>, the most significant was the unexpected trapping of 965 ETH, valued approximately at $1.7 million during that period. The predicament arose because of the massive, unexpected influx of traffic on the network immediately post-launch, with 1000 ETH tokens and 600,000 BONE tokens deposited within the first 15 minutes alone. This rush resulted in Shibarium recording over 160 million compute units in merely half an hour.<\/p>\n

Kusama, providing a silver lining, stated that they’ve since amplified Shibarium’s scaling and capacity by a staggering 1,500%. With such promising advancements and the dedication shown by the team, many Shiba Inu enthusiasts are ardently waiting for Shibarium to open its gates to the public.<\/p>\n

How High Can Shiba Inu Surge Post Shibarium Restart?<\/h2>\n

The ripples of the Shibarium launch and its subsequent hiccups are vividly evident in SHIB’s recent price dynamics. A euphoric surge was observed around August 12, where SHIB’s price ascended to a 4-month high at $0.00001134. However, post the Shibarium’s temporary freeze, SHIB\u2019s value plummeted sharply. This decline was so drastic that SHIB’s price slid below the support levels of all major daily moving averages.<\/p>\n

Related Reading: Shiba Inu Price Shows Resilience As Shibarium Reboots: SHIB Price Targets<\/a><\/div>\n

The meme coin\u2019s recent trajectory saw it dwindling precariously close to the 78.6% Fibonacci retracement mark at $0.00000717 just last Thursday. However, SHIB price managed to claw its way back, finding support above the 61.8% Fibonacci retracement level pegged at $0.00000806. A brief bounce was witnessed, but resistance at the 50% Fibonacci retracement level and the 100-day EMA at $0.00000869 thwarted its progress, causing it to retrace its steps back towards the 61.8% level.<\/p>\n

With the potential public restart of Shibarium on the horizon, there’s a beacon of hope for SHIB\u2019s price. A successful relaunch might propel SHIB to soar by 37% and retouch its 4-month peak at $0.00001134. But this ascent won\u2019t be without challenges.<\/p>\n

The Shiba Inu price will need to navigate a maze of resistance, most notably the area between the 100-day EMA at $0.00000867 and the 50% Fibonacci retracement level at $0.00000869, the area between the 200-day EMA at $0.00000932 and the 38.2% Fibonacci retracement level at $0.00000931, and the 23.6% Fibonacci retracement level at $0.00001009.<\/p>\n

\"Shiba
SHIB retraces to 61.8% Fib, 1-day chart | Source SHIBUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

 <\/p>\n

Featured image from Coins.ph, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shibarium, the much-anticipated layer-2 network of Shiba Inu is back online but remains under the radar, confined to an extensive private test phase. Shytoshi Kusama, the project’s lead developer, unveiled this update on Saturday. In his remarks, Kusama assured the community that they have resolved all technical challenges previously encountered on this layer-2 platform. Kusama mentioned, \u201cShibarium is currently live (but in private mode) producing blocks as normal.\u201d He further emphasized the importance of ensuring optimal scaling and functionality before a public re-release, suggesting that the SHIB development team is prioritizing caution above all. Notably, Shibarium’s initial launch wasn’t without its issues. Block production had come to a standstill on the network just last week. Shibariumscan, the network\u2019s designated explorer, indicates that the most recent block on the Shibarium mainnet was produced on Thursday. Related Reading: Shiba Inu Whale Transfers 4.6 Trillion Tokens After A 24-Hour Safekeeping However, among the many challenges faced, the most significant was the unexpected trapping of 965 ETH, valued approximately at $1.7 million during that period. The predicament arose because of the massive, unexpected influx of traffic on the network immediately post-launch, with 1000 ETH tokens and 600,000 BONE tokens deposited within the first 15 minutes alone. This rush resulted in Shibarium recording over 160 million compute units in merely half an hour. Kusama, providing a silver lining, stated that they’ve since amplified Shibarium’s scaling and capacity by a staggering 1,500%. With such promising advancements and the dedication shown by the team, many Shiba Inu enthusiasts are ardently waiting for Shibarium to open its gates to the public. How High Can Shiba Inu Surge Post Shibarium Restart? The ripples of the Shibarium launch and its subsequent hiccups are vividly evident in SHIB’s recent price dynamics. A euphoric surge was observed around August 12, where SHIB’s price ascended to a 4-month high at $0.00001134. However, post the Shibarium’s temporary freeze, SHIB\u2019s value plummeted sharply. This decline was so drastic that SHIB’s price slid below the support levels of all major daily moving averages. Related Reading: Shiba Inu Price Shows Resilience As Shibarium Reboots: SHIB Price Targets The meme coin\u2019s recent trajectory saw it dwindling precariously close to the 78.6% Fibonacci retracement mark at $0.00000717 just last Thursday. However, SHIB price managed to claw its way back, finding support above the 61.8% Fibonacci retracement level pegged at $0.00000806. A brief bounce was witnessed, but resistance at the 50% Fibonacci retracement level and the 100-day EMA at $0.00000869 thwarted its progress, causing it to retrace its steps back towards the 61.8% level. With the potential public restart of Shibarium on the horizon, there’s a beacon of hope for SHIB\u2019s price. A successful relaunch might propel SHIB to soar by 37% and retouch its 4-month peak at $0.00001134. But this ascent won\u2019t be without challenges. The Shiba Inu price will need to navigate a maze of resistance, most notably the area between the 100-day EMA at $0.00000867 and the 50% Fibonacci retracement level at $0.00000869, the area between the 200-day EMA at $0.00000932 and the 38.2% Fibonacci retracement level at $0.00000931, and the 23.6% Fibonacci retracement level at $0.00001009.   Featured image from Coins.ph, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":548211,"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":[83668,83667,87680,84562,87774],"class_list":["post-548210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shiba-inu","tag-shibarium","tag-shibusd","tag-shytoshi-kusama"],"acf":[],"yoast_head":"\nHow High Can Shiba Inu (SHIB) Rise 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. 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