Shiba INU is trading within a very narrow range after the token broke out of a decisive phase, marking the revival of a bearish trend
Shiba INU price appears to be undergoing a parabolic curve but in an inverse way, which is mainly due to the extensive selling pressure. With the fresh slash, the majority of the technicals have gone bearish, as the token dropped from the crucial 50-day MA levels. After losing the support at $0.00000974, it appears very difficult for the price to rebound and reclaim its previous positions.
Besides, the development of Shiba INU’s layer-2 solution, Shibarium, is on track, while the date for the launch is unknown, while the developers hint at the release date. The long-term forecast appears to be extremely bullish as the popular token may undergo a 100% upswing in the next few weeks.
Shibarium’s primary purpose is to optimize the network on Ethereum with enhanced stability, faster transactions with fewer fees, and user-friendly, metaverse & dApp development.
Will Shibarium be the Catalyst for the SHIB price Rally?