The Shiba Inu meme currency, worth $0.00001466 as of this writing, fell about 3% on Sunday.

Total value locked by Shibaswap has dropped from $1 billion to $15 million.

Shibarium has seen a decline in active accounts and transactions.
Get ready for a nearly 8% discount as SHIB prepares.

As of this writing, one Shiba Inu (SHIB) token is worth $0.00001472. Shibarium and Shibaswap, two meme currency ecosystem initiatives, have seen their usefulness decline.

As of this writing, Shibarium's locked assets are $15 million and Shibaswap is the solution for layer 2 scalability.

The price of Shiba Inu has been steadily falling since peaking at $0.00004567 in March 2024. At its lowest point, the meme coin was worth $0.00001072. With the decreasing usefulness of Layer 2 scaling solutions and Shibaswap, SHIB lost about 3% of its value on Sunday.

On the SHIB/USDT daily chart, the Fair Value Gap (FVG) is located at around $0.00001371, which is a potential liquidity sweep point for SHIB. Once the imbalance is resolved, Shiba Inu is likely to start recovering and aim for a rally above $0.00002017, the meme coin's all-time high on July 16. After falling to $0.0001371, the meme coin rallied to its target of $0.00002017, representing a gain of more than 50%.

By the end of Q4 2024, Shiba Inu may have slowed its recovery and headed towards $0.00002017.

The momentum indicator called Moving Average Convergence Divergence (MACD) shows a green histogram bar above the neutral line. The price trend of SHIB is gradually improving.

At the low on September 17 ($0.00001303), Shiba Inu could find support.

According to data collected by Shibariumscan, the number of accounts has decreased but the number of on-chain transactions has remained stable. This reinforces the negative argument against Shiba Inu.

DYOR! #Write2Win #Write&Earn #Write2Learn #Write2Earn!