Shiba Inu has been defying expectations and making its mark on the market. In a great performance, this canine-themed crypto has not only soared in price but has also clinched the title of the top-performing cryptocurrency over the last two days. Why is Shiba Inu up and when will Shibarium launch?
What is Shiba Inu: The Start
Shiba Inu (SHIB) started as a meme token, inspired by the popular Shiba Inu dog breed. Over time, its popularity surged and grew into a decentralized community project with its own vibrant ecosystem. The coin quickly garnered attention, thanks in part to its robust community and strategic developments, like staking capabilities and the anticipated launch of Shibarium.
How to Stake Shiba Inu
Staking is a process in the crypto world where investors hold and lock their coins in a wallet to support a network’s operations like transaction validation, security, and development. Shiba Inu offers this capability, providing its holders with an opportunity to earn rewards over time. By staking SHIB, enthusiasts can bolster the project’s strength and also earn passive income.
You can easily stake SHIB on many exchanges, including Binance.
Is Shiba Inu a Reliable Project?
Beyond its meme token roots, Shiba Inu’s vision has evolved. The project has displayed resilience and adaptability, continuously introducing new features and platforms to foster growth and user engagement. The impending launch of Shibarium, a layer-two network, is a testament to the project’s ambition to evolve and provide scalable solutions.
What is Shibarium?
Shibarium is Shiba Inu’s upcoming blockchain, a layer-two solution intended to boost the cryptocurrency’s scalability, speed, and affordability. Originating from the Shiba Inu ecosystem, which began as a mere meme token, Shibarium is a pivotal step forward that will expand SHIB’s utility and function.
This blockchain comes as a response to growing demands for faster and cheaper transactions. As Ethereum’s gas fees rose, the need for an efficient alternative became paramount, especially for tokens like SHIB that operate on the Ethereum network.
Shibarium’s advent promises not only enhanced transaction performance but also opportunities for new decentralized applications (dApps), strengthening the Shiba Inu ecosystem’s overall value proposition. In essence, by launching its blockchain, Shiba Inu is poised to transition from a meme token to a more robust, utility-driven crypto asset.
When will Shibarium Launch?
The official Shibarium launch is set to occur during the Blockchain Futurist Conference in Toronto, Canada. This event is slated for August 13-17, 2023.
Shiba Inu’s Market Movements
In the past week, SHIB has marked a commendable 7.5% increase, even accounting for a minor 1.5% dip, positioning its current price at $0.00000891. Over the last month, its growth reached an impressive 18%, primarily driven by market anticipation around the forthcoming launch of Shibarium.
The Long-Awaited Launch of Shibarium
Despite several postponements, the much-anticipated launch of Shibarium appears imminent. This layer-two network promises to amplify Shiba Inu’s development and long-term adoption. As the days to Shibarium’s public release reduce, the crypto community is showing increased bullishness, eager to capitalize on SHIB while it remains undervalued.
Technical Indicators and Whale Movements
The weekend saw SHIB’s price peak at $0.000010. Even though a slight correction ensued, SHIB’s technical markers hint at a reduced momentum. Yet, with the 30-day moving average soaring above the 200-day average, SHIB holds potential for further increments. Notably, the meme coin has managed to maintain its elevated position over the week, with optimistic sentiments about another potential price rally.
Recent activities spotlight a robust support level for SHIB, making a steep decline in its price improbable. Whale Alert’s data underscores this sentiment, indicating a significant transfer of over 4 trillion SHIB between wallets recently. Whether it signifies an individual entity purchasing SHIB in bulk remains unclear, but it unquestionably signals intensified SHIB-related activities as Shibarium’s launch nears.
Shiba Inu Price Prediction: How High can Shiba Inu reach?
The combined factors of Shibarium’s launch and heightened market activities might propel SHIB to achieve more significant highs shortly. Market analysts predict that SHIB could revisit the $0.000010 mark in the coming weeks and potentially escalate to as much as $0.00002 in subsequent months.