Shiba Inu ($SHIB ) has attracted great attention recently and a significant price increase is predicted with ecosystem developments. This increase is based on its strong performance and the possibility of a potential break above key resistance levels. Additionally, developments such as the Shibarium layer-2 solution also increase interest in SHIB.
However, the price of Shiba Inu has been decreasing in the last few days. This is consistent with a broader correction in the cryptocurrency market in general. Bitcoin($BTC ), in particular, has fallen below $66,000 after recording all-time highs. This decline has affected many long-term investors. However, many analysts believe that the market will rise again in the near future and consider this correction a typical “buy the dip” opportunity.
Analyst Javon Marks stated that SHIB has shown “tremendous strength” recently and recalled a triple-digit price increase on a monthly basis. According to Marks, a break above the $0.000081 resistance level could lead to an additional upside of 147%.🚀 Therefore, a break above $0.000081 and a hold of this level would only lead to an increase of 90% to 0.0001553. It can make room for the dollar.
Earlier this month, analysts Ali and Jake also shared SHIB's bullish predictions. Jake predicted that the asset could become the largest “meme coin” by 2025.
The Meme coin's impressive performance in recent weeks, its potential to offer investors the opportunity to make significant profits, and other factors are one of the reasons for the increased interest in the Shiba Inu. Additionally, the asset's popularity in terms of Google searches has increased to a level not seen since December 2021. Countries most interested in SHIB include the United States, Singapore, Belgium, Canada and the Netherlands.
Shiba Inu ($SHIB ) has performed impressively in recent weeks, providing investors with the opportunity to make significant profits. The reasons for this increase include the following factors:
Popularity in Google Searches: Shiba Inu's popularity has risen to a level not seen since December 2021. Interest in SHIB has increased especially in countries such as the United States🇺🇲, Singapore🇸🇬, Belgium🇧🇪, Canada🇨🇦 and the Netherlands🇱🇺.
Layer-2 Scaling Solution (Shibarium): One of the developments within the Shiba Inu ecosystem is Shibarium, a layer-2 scaling solution ✅️. This solution has surpassed the 400 million mark in total transactions on the network.
Writing Program and Burn Rate: The Shiba Inu's writing program has also experienced a significant revival. Additionally, at one point the burn rate skyrocketed by 30,000%.
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