Shiba Inu (SHIB) is on the rise, with its price of $0.00001054 representing a 30% gain since the start of the year. This increase is expected to continue as the beta launch of Shibarium, a layer-two network for Shiba Inu, was recently completed, and the full public launch is expected to occur soon.
The network will lower transaction fees, increase capacity, and improve security and decentralization. Additionally, Shibarium’s launch will increase Shiba Inu’s visibility and utility, making it a more attractive investment.
However, SHIB’s indicators suggest that it could begin rallying again in the near future, as its 30-day moving average and relative strength index have both taken dives in recent days. The key resistance level for SHIB is currently $0.000011, and if it can break through this level, more rises are likely to come.
SHIB’s indicators suggest that it could begin rallying again in the near future, as its 30-day moving average and relative strength index have both taken dives in recent days. The key resistance level for SHIB is currently $0.000011, and if it can break through this level, more rises are likely to come.
The launch of SHIB: The Metaverse, a Shiba Inu-themed virtual world, is expected to boost the price of SHIB. The platform’s team has big ambitions for the platform, describing it as “the future of entertainment, business, and gaming all rolled into one.” Combined with Shibarium, it could lead to a massive uptake in demand for SHIB, which could see its price rise to new levels.
While SHIB looks undervalued at present, it is likely that it won’t see substantial gains until after the full launches of Shibarium and SHIB: The Metaverse. This means that traders may prefer to look elsewhere for big gains at the moment, with several new altcoins and presale tokens showing real potential.
The Cryptonews Industry Talk team has studied such coins and created a list of the top 15 cryptocurrencies for 2023. This list is regularly updated with new altcoins and ICO projects that show great potential. Each of these coins has great short-term as well as long-term prospects, making them worth keeping an eye on.