1. Breakthrough Resistance:
- Shiba Inu (SHIB) successfully surpassed the elusive $0.00001 resistance on December 6, marking a 20% gain for the month.
2. Network Activity Surge:
- This achievement coincided with #Shiba Inu's highest network activity and new user acquisition in four months.
- The surge followed the announcement of the Shibarium L2 network initiating the burning of SHIB tokens.
3. Shibarium Network Impact:
- Shibarium, introduced in August, has processed over 35 million transactions, enhancing transaction speed and scalability.
- The recent token burn announcement attracted a record number of new investors, with 2,240 new SHIB addresses created in a day.
4. Network Growth Indicator:
- Increased network growth signals bullish sentiment, indicating rising interest and economic transactions within the SHIB ecosystem.
5. Price Performance and Forecast:
- #SHIB saw a remarkable 21% growth in the first week of December.
- Bollinger Bands show a bullish momentum, breaking above the upper band at $0.000099.
6. Next Resistance and Strategic Considerations:
- The $0.000011 resistance is identified as a significant hurdle.
- Strategic investors may consider a "take-profit" order at this level, anticipating a potential retracement.
7. Future Outlook:
- Bullish momentum, driven by SHIB burns and increasing new entrants, could propel SHIB to surpass the $0.000011 resistance.
- In case of a pullback, the lower Bollinger Band at $0.0000086 is noted as initial support.
Keep a close eye on these factors for insights into potential market shifts.
