Shiba Inu (SHIB) recently experienced a significant drop, falling 6% amidst a trading volume of $267.39 million. Despite this downturn, the cryptocurrency has shown a slight recovery, up 2.65% in the last 24 hours, currently priced at $0.00001667.
Shiba Inu Integrates Shiba Eternity with Shibarium Blockchain
The Shiba Inu ecosystem is advancing with the integration of its Shiba Eternity game with the Shibarium blockchain. This integration is expected to enhance the game's functionality with Web3 features, transforming digital game cards into blockchain assets. These assets can be traded, thereby increasing their value and collectibility.
Marketing lead Lucie highlighted that this upgrade includes a competitive ranking system, allowing players to progress through 14 divisions from White Belt to Grandmaster in 15-day cycles. Players can mint gameplay cards as NFTs on Shibarium, giving them full ownership and the ability to trade these digital assets.
Key features of the game include:
Over 10,000 unique Shiboshis heroes with special abilities.
Players build a 30-card deck and manage a “Bark” pool for game moves.
The objective is to deplete the opponent’s stamina to zero to win.
Top players in ranked tournaments qualify for seasonal tournaments with greater rewards.
Shiba Inu Price Analysis
As of now, Shiba Inu is priced at $0.00001667, with a 24-hour trading volume of $267.39 million. After a 6% decline, SHIB has seen a 2.65% increase. It holds a market cap of $9.81 billion and a circulating supply of 589.27 trillion SHIB coins.
On the 4-hour chart, key price levels to monitor include:
Pivot Point: $0.00001585
Immediate Resistance: $0.00001754, followed by $0.00001833 and $0.00001900
Immediate Support: $0.00001525, with further support at $0.00001475 and $0.00001422
The Relative Strength Index (RSI) is at 43.86, indicating bearish momentum but also suggesting a potential reversal. The 50-Day Exponential Moving Average (50 EMA) is positioned at $0.00001725, reinforcing the bearish trend.
A bullish engulfing candle on the 4-hour timeframe suggests a potential bullish reversal. However, overall technical indicators, including the 50 EMA and RSI, still support a bearish bias.
Conclusion
Despite recent declines, Shiba Inu has shown signs of recovery, moving above the $0.00001585 level, which indicates a slight bullish sentiment. Investors and analysts are closely monitoring these developments as the integration with Shibarium and market dynamics unfold.
Notice:
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