Shiba Inu Expects Major Rally, Can Price Reach $0.00004?
Several on-chain measures suggest a big rise for meme currency Shiba Inu (SHIB). Shiba Inu adoption is growing again, as seen by layer-2 network Shibarium daily transactions.
These Positive Metrics Could Help Shiba Inu Rally.
Meme coins with positive stats like Shibarium daily transactions may see a price increase. According to Shibariumscan, Shiabrium's daily transactions on September 19 reached 11,360, up from 3,090 the day before. Since network activity had been sluggish for a long, that day's 11,360 daily transactions were the most in over a month.
However, Shibarium's daily transactions are rising, suggesting investors are returning to the Shiba Inu ecosystem, which might boost the meme coin's price. Daily transactions have increased since the Fed rate decrease, which has strengthened investors' trust in risk assets like SHIB.
Thus, the Shibarium network may become more popular and everyday transactions rise. Additional Shiba Inu burns from increased network activity will lower the meme coin's price.
An automated burn mechanism converts certain layer-2 transaction costs to SHIB and burns them.
With more SHIB investors in profit, the âIn the Moneyâ measure has become positive. The meme currency may encounter less selling pressure, making investors more confidence about holding when profitable. Losing holders always sell to limit their losses.
Can Shiba Inu Hit $0.00004?
They show that Shiba Inu may hit $0.00004 and are optimistic for the meme currency. Based on technical research, crypto specialists like Javon Marks say the meme currency is primed to breakout. Marks said the meme currency may reach $0.00008.
Meanwhile, crypto expert Pat said meme coin higher time frame charts are looking âbloody lovely.â As an example, he used Shiba Inu to show that the meme currency may reach $0.00004 if it confirms the chart deviation.
According to CoinMarketCap, Shiba Inu is trading at $0.000014, down over 2% in 24 hours.
