The Shiba Inu ecosystem has been active recently, with major news coming one after another. Following the successful launch of the Shibarium testnet, the Shiba Inu team recently announced that it will launch a decentralized trading platform called "SHIB Market", which aims to provide users with a fairer and more transparent trading experience and give users greater autonomy.
SHIB Market: A Game Changer for Web3 Business?
The SHIB market will be powered by Ethereum's Shibarium L2 solution and will use BONE tokens for transactions, with governance being handled by Shiba Inu DAO. The core goal of the platform is to transfer power from centralized companies to users, break the monopoly of traditional e-commerce platforms, and create a more open and free Web3 business ecosystem.
SHIB Market will have the following advantages:
Decentralization: Users will own their own assets and transaction data without worrying about censorship or manipulation by centralized platforms. Fairness and transparency: All transaction data will be open and transparent, and users can easily understand market conditions. Low transaction fees: The platform will adopt efficient L2 technology to significantly reduce transaction fees. Community-driven: Users will be able to participate in the governance and development of the platform and jointly create a more prosperous SHIB ecosystem.
Can the SHIB market return to $0.01?
The launch of the SHIB market is undoubtedly an important milestone in the development of the Shiba Inu ecosystem, and the frequent good news has also attracted widespread attention from the community. However, the recent performance of SHIB prices has failed to reflect this good news and is still hovering at a low level.
Technical analysis indicators show:
SHIB price remains bearish on higher timeframe charts. Price is below key short-term (50-day SMA) and long-term (200-day SMA) moving averages. Weak RSI (Relative Strength Index) and CMF (Chaikin Money Flow) indicators suggest buying pressure and lack of money flows. Open interest in the derivatives market has fallen by 5% in the past 24 hours, further indicating weak market sentiment.
Although SHIB prices are facing some pressure in the short term, they still have great potential for growth in the long term. The following factors may drive SHIB prices up:
Successful launch and operation of the SHIB Marketplace: If the SHIB Marketplace can attract a large number of users and trading volume, it will effectively increase the value and demand for SHIB. Improvement in overall cryptocurrency market sentiment: If the prices of major cryptocurrencies such as Bitcoin rebound, the price of SHIB may also follow suit. Continued development of the Shiba Inu ecosystem: If the Shiba Inu ecosystem can launch more innovative applications and services, it will further enhance its appeal, thereby driving up the price of SHIB.
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