Shiba Inu (SHIB) has seen an 8% rise from its recent bottom, with its current 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 an even 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, but if it can break through this level, more rises are likely to come.
SHIB: The Metaverse, a virtual world themed around Shiba Inus, is expected to boost demand for SHIB and send its price soaring. 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. With so many new altcoins and presale tokens on the market, traders may prefer to look elsewhere for big gains at the moment.
The Cryptonews Industry Talk team has studied such coins and created a list of the top 15 cryptocurrencies for 2023, each with good short-term as well as long-term prospects. This list is regularly updated with new altcoins and ICO projects that we believe have the potential to make a big impact in the market.
The upcoming beta launch of Shibarium and full public launch, combined with the launch of SHIB: The Metaverse, are all expected to boost demand for SHIB and increase its price. While SHIB may not see substantial gains until after these launches, there are several other new altcoins and presale tokens showing real potential for traders looking for big gains in the near future.