As the acceptance of Shibarium decreases, the value of Shiba Inus will certainly fall by 8%
The Shiba Inu meme currency, which is worth $0.00001466 as of this writing, falls by roughly 3% on Sunday.
The overall value locked in by Shibaswap has decreased from $1 billion to $15 million.
A decrease in active accounts and transactions has been seen by Shibarium.
Get ready for an almost 8% price decrease as SHIB prepares.
As of this writing, one Shiba Inu (SHIB) token is worth $0.00001472. Shibarium and Shibaswap, two ecosystem initiatives of the meme currency, have seen a decrease in their usefulness.
As of this writing, Shibarium's locked assets are $15 million, and Shibaswap is a solution for layer 2 scalability.
The Shiba Inu price has been steadily declining since reaching a high of $0.00004567 in March 2024. At its lowest point, the meme coin was worth $0.00001072. With the decreasing usefulness of its Layer 2 scaling solution and Shibaswap, SHIB lost roughly 3% of its value on Sunday.
On the daily chart of SHIB/USDT, the Fair Value Gap (FVG) is located around $0.00001371, which is a potential liquidity sweep point for SHIB. After the imbalance is resolved, Shiba Inu has the potential to start recovering and aim for a rally above $0.00002017, the meme coin's all-time high on July 16th. After falling to $0.0001371, the meme currency has risen to a goal of $0.00002017, representing a gain of over 50%.
By the conclusion of the fourth quarter of 2024, Shiba Inu could have slowed its rebound and set its sights on the $0.00002017 level.
The momentum indicator known as Moving Average Convergence Divergence (MACD) displays a green histogram bar situated above the neutral line. The pricing trend of SHIB is gradually improving.
At the low point on September 17 ($0.00001303), Shiba Inu might find support.
According to data collected by Shibariumscan, the number of accounts has been declining but the number of transactions on the chain has been stable. A negative thesis for Shiba Inus is reinforced by this.
