Shiba Inu is doing really well because of the upcoming Shibarium launch. Big SHIB holders are putting in a lot more, showing they believe in it.
Shiba Inu, the special memecoin, has been doing really well for more than two weeks now. This is happening as they’re getting ready to launch something called Shibarium, their own kind of internet.
Everything related to Shiba Inu is feeling really positive. Some coins connected to Shiba Inu, like Bone ShibaSwap (BONE), Doge Killer (LEASH), and Pawswap (PAW), have gone up a lot in the last 24 hours.
The Shiba Inu tokens (SHIB) have been some of the best in the last week. Right now, SHIB is worth $0.0000109, which is 9.31% more. A lot of people are trading it, with $592 million being used. Also, big Shiba Inu holders have put in 1,194% more money, according to IntoTheBlock, which watches what big holders do.
In the meantime, the Shiba Inu community (they like dogs a lot) is excited about Shibarium’s launch. One of the co-founders, Shytoshi Kusama, talked a little bit about three new partnerships in his special chat group. He didn’t say much about who these partners are, but he did say one of them already signed a deal.
The “decentralization house” of Shiba Inu will get smart people to help them. The second partner will focus on technology and doing good things, and they might tell us about it in August.
Can the SHIB Price Increase Keep Going?
If we look at the SHIB price chart on TradingView, we can see that the price went up and is now above a line called the “50-day simple moving average” or 50 SMA. This shows that a lot of people feel positive about it right now. The 50 SMA is at $0.00000979.
SHIB Price Chart, Source:TradingView
Looking at the daily Relative Strength Index (RSI) for SHIB, we can see it’s at 73, which is above a level where it might have gone up too much already.
If things keep going like they are, the price of SHIB could go up to $0.00000908 and $0.00001280. But if things change, it might go down to $0.00000774 or $0.00000708.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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