How Are Shiba Inu Recent Activities Impacting Its Growth Outlook?
The post How Are Shiba Inu Recent Activities Impacting Its Growth Outlook? appeared on BitcoinEthereumNews.com.
Shiba Inu DAO launch will involve holders in future decision-making. Whale activity surge suggests potential price increase for Shiba Inu. Shiba Inu (SHIB) has witnessed a notable surge in transaction volume over the past 24 hours, with 1.8 trillion tokens changing hands, largely due to significant whale movements. This recent uptick is approaching the seven-day peak of 2.12 trillion SHIB recorded on August 21, suggesting a potential shift in market sentiment. The heavy trading by whales, typically known for their cautious investment strategies, might indicate an impending price increase for SHIB. This surge in activity could signal the beginning of a longer-term uptrend, potentially drawing in more retail investors and leading to a notable price rally. Moreover, in a significant development, Shiba Inu is preparing to launch a Decentralized Autonomous Organization (DAO). According to an August 25 post by the project’s pseudonymous marketing lead, “Lucie,” the DAO will empower SHIB holders to vote on future initiatives and influence the project’s direction. The DAO will consist of two main councils—the “Charity Council” and the “Culture & Heritage Council”—which will guide community projects and preserve the distinct culture of the Shiba Inu community. What is Ahead For SHIB? As of now, SHIB is priced at $0.00001432, down 3% in the last 24 hours, with trading volume increasing by 18%. These developments mark a crucial moment for Shiba Inu, indicating potential shifts in market dynamics. SHIB Price Chart, Source: Sanbase Presently, SHIB trades below its 200-day and 50-day moving averages, which act as key resistance points. If the current momentum persists, SHIB might surpass these averages, signaling a reversal from its previous downtrend and the start of a new bullish phase. Highlighted News Of The Day SEAL Team Emerges as Elite Defenders in the Crypto Space Source: https://thenewscrypto.com/how-are-shiba-inu-recent-activities-impacting-its-growth-outlook/
Filed under: News - @ August 27, 2024 6:13 pm