Memecoins are once again on crypto investors’ radar recently! After a strong healthy in Dogecoin (DOGE) price, its competitor Shiba Inu (SHIB) is gearing up for 20% price gains from here. At press time, SHIB is trading 1.8% down at a price of $0.000009114 with a market cap of $5.37 billion.

Bullish Momentum for Shiba Inu (SHIB)

Renowned crypto analyst Ali Martinez suggests that the TD Sequential indicator, known for its accuracy in forecasting Shiba Inu’s price dynamics, is currently signaling a buy. This indication implies a potential upswing for the Shiba Inu (SHIB) cryptocurrency.

Investors are advised to closely monitor the market conditions, as Martinez speculates that Shiba Inu may experience an ascent, reaching levels as high as $0.010 or potentially even surging to $0.011. Traders and enthusiasts in the crypto space are keenly watching these developments for potential opportunities in the $SHIB market. Note that the price mentioned above is for 1000SHIB coins.

Courtesy: Ali Martinez

Furthermore, according to market analyst SHIB KNIGHT, an insider in the Shiba Inu community, the token is currently breaking its downtrend on the 2H chart. By presenting a SHIB/USDT chart, SHIB KNIGHT highlighted the reversal in the token’s trend following a prolonged period of decline. Additionally, KNIGHT’s analysis suggests that SHIB may be poised for a sudden and substantial price surge.

$SHIB can pump at any time pic.twitter.com/Z8mCQBKqpo

— $SHIB KNIGHT (@army_shiba) January 30, 2024

Expanding the Scope of Shibarium Network

Shiba Inu’s marketing lead Lucie has outlined ambitious plans for the Shibarium ecosystem, aligning with its goal of achieving widespread adoption. In a recent post on X (formerly Twitter), Lucie shared that Shibarium aims to integrate 1,000 new projects into its ecosystem.

This strategic initiative underscores Shibarium’s dedication to enhancing its ecosystem and fostering a sustainable and robust community. The incorporation of new projects shall facilitate further growth and advancement for the Shibarium network, addressing specific needs and challenges within different communities.

Moreover, the introduction of new projects could contribute to the overall utility of the ecosystem, providing additional opportunities for community members to engage with and utilize the diverse range of tokens co-existing within the Shiba Inu ecosystem.

Lucie also hinted at forthcoming innovative partnerships and projects that would introduce new features and solutions to the Shibarium network. Importantly, she assured the Shiba Inu community that existing projects within the network would continue to receive attention and support, emphasizing a commitment to ongoing development and sustainability.

The post Shiba Inu (SHIB) Price Eyes $0.000011 As Per Technical Chart Setup appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am