Shiba Inu (SHIB) Developments, Ripple (XRP) Price Forecasts, and More: Bits Recap Sep 12
The post Shiba Inu (SHIB) Developments, Ripple (XRP) Price Forecasts, and More: Bits Recap Sep 12 appeared on BitcoinEthereumNews.com.
TL;DR Shibarium, Shiba Inu’s layer-2 solution, shows increased activity, approaching a 90-day peak in deployed contracts. Analysts predict a possible bull run for XRP, driven by tightening Bollinger Bands and historical patterns. Ethereum (ETH) sees increased wallet creation, suggesting rising network utility and potential for further price gains. What’s New Around SHIB? Shiba Inu’s layer-2 scaling solution keeps making waves in the crypto space. Earlier this week, LUCIE (a prominent member of the SHIB community) said the protocol approached a three-month high in deployed contracts, “showing strong developer activity.” Shibarium also recorded a 91% increase in the daily transactions processed on a daily scale: from 2,840 on September 10 to 5,430 the following day. The network officially went live last summer and is specifically designed to foster the development of the Shiba Inu ecosystem. It aims to improve the overall user experience, enhance scalability, reduce transaction fees, and allow developers to build decentralized applications. For more updates on the ecosystem, make sure to check out our Shibarium news. Some industry participants believe its further progress could be among the factors positively impacting the price of SHIB. The meme coin is up 1.6% in the past 24 hours and is currently trading at around $0.00001339 (per CoinGecko’s data). However, it remains deep in the red on a two-week basis. SHIB Price, Source: CoinGecko XRP Bull Run Incoming? The price of Ripple’s native token has also plunged in the past 14 days, but some analysts believe it might soon rally to unseen peaks. XRP Price, Source: CoinGecko X user EGRAG CRYPTO argued that XRP could repeat the pump observed in late 2017 and early 2018. Back then, its valuation witnessed a 1,250% increase, reaching an all-time high of $3.40. Such an explosion nowadays would result in a new top of approximately $7.20 for the asset. …
Filed under: News - @ September 12, 2024 8:29 am