Shiba Inu’s Summer of Shibarium is just around the corner. There’s a growing buzz surrounding the Q3 Shibarium launch. Expected to revolutionize the ecosystem, the Summer of Shibarium is rapidly becoming the talk of the town, and for good reason. In this article, we give a LEASH update along with a Shibarium updated timeline. Will those two boost SHIB prices further?
Doge Killer, or LEASH, isn’t just a token. It’s a key pillar of the Shiba Inu ecosystem. It serves as the native utility token for ShibaSwap DEX, a decentralized exchange that forms the heart of the community. And now, as an add-on, Shytoshi Kusama, a top-tier developer within the SHIB community, has teased the crypto enthusiasts with a snippet. The week ahead will unveil two brand-new updates related to LEASH.
LEASH Update as of Q3 2023
The first update is being touted as an ‘exclusive exclusive.’ To put it simply, this is a feature known only to the elites – the LEASH holders. The suspense around this exclusive update is palpable, feeding into the growing anticipation.
Come Wednesday, and the Shiba community will witness the second update – unveiling a fresh utility for LEASH. The curtain-raising on these updates has sparked a whirlwind of excitement, pumping up the price action of SHIB, the main token of the ecosystem.
SHIB Price Analysis: What’s Happening to Shiba Inu?
Currently, SHIB is showcasing impressive performance. The price is presently pegged at $0.00001053, marking a 24-hour surge of +2.64%. The token has had an impressive run in August, boasting a +24% increase since the beginning of the month. The market is now on tenterhooks, eagerly awaiting the Q3 Shibarium launch. This update is slated to introduce a layer-2 scaling solution for the Shiba Inu ecosystem.
On the technical front, SHIB is riding high on unwavering support from the 20-day moving average (20DMA) and has successfully clinched key support from the 200DMA as of August 11. This technical achievement sets a rallying foundation for the token.
But it’s not all sunshine and rainbows. The Relative Strength Index (RSI) flags a warning sign, shooting into the overbought territory with a reading of 67.82. This suggests potential consolidation or even a small setback in the horizon.
Yet, the Moving Average Convergence Divergence (MACD) offers a beacon of hope. A bullish divergence, evident at 0.00000015, mirrors the token’s sustained momentum over the past fortnight.
Should SHIB undergo consolidation, the support from the 200DMA sets the stage for a tempting risk:reward scenario. The upside is aiming at a robust support level of $0.00001180 (+11.85%), while the downside is lingering close to the 20DMA at $0.000009 (-14.69%). Given the risk:reward ratio of 0.81, entering now may be marked by a larger downside, primarily attributed to the high RSI demanding consolidation.
The Crypto Marketplace: Where to Next?
Although SHIB might be gearing for a short breather, the smart money in the market is anything but dormant. Savvy investors are exploring emerging crypto trading platforms that promise the allure of magnifying portfolio growth, especially by identifying high-potential prospects, with tokens like LEASH leading the charge.