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Shiba Inu (SHIB) Bull Run Approaching… If These Conditions Are Met!

Tue 19 Sep 2023 ▪ 4 min of reading ▪ by Mikaia A.
Getting informed Altcoins

The Shibarium is not designed to drive up the price of SHIB. But it could propel memecoin to the moon. Except that the idleness of the crypto community is delaying the long-awaited Shiba Inu bull run. To speed things up, Lucie, marketing manager of this crypto project, is urging SHIB fans to get much more active, to collaborate. Read on!

Photos of a crowd and a megaphone, with the Shiba Inu logo.

In brief:

  • Lucie, SHIB strategist, explains the sine qua non conditions for a bull run of the Shiba Inu cryptocurrency,
  • Some crypto analysts report a bullish signal for SHIB.

Shibarium snubbed by cryptocurrency traders?

The hasty launch of Shibarium on August 16 must have cost Shiba Inu’s developers, and crypto investors fond of this memecoin, dearly. After a few days of maintenance, requiring the intervention of the Polygon team, Shiba Inu’s Ethereum layer 2 blockchain was back up and running on the mainnet.

Three weeks later, SHIB is struggling to get off the ground. The crypto meme so beloved by Americans is unfortunately down 13.2% on a 1-month scale.

Lucie explains the conditions for increasing Shiba Inu burn rate

Tracing back the history of this tweet, U°Today revealed that SHIB’s burn question had caused a wave of controversy in the crypto community. Incidentally, Lucie also came under fire from cryptocurrency traders after her call for more use of Shibarium.

Why would she want crypto exchanges to migrate to Shibarium, when SHIB’s burn mechanism lacks transparency?

True, the SHIB crypto burn portal has already been announced, but it’s not yet up and running.

Will SHIB rise again?

In the columns of CryptoPotato, we were treated to an in-depth analysis of the price evolution of the Shiba Inu cryptocurrency.

Apparently, SHIB has found support that will favor the return of buyers, including retail and institutional crypto investors.

Details are given below:

  • Key support levels between $0.000 0070 and $0.000 0064,
  • Key resistance levels between 0.000 0075 and 0.000 0080 dollars.
SHIB price trend (support and resistance) - Source: TradingView
SHIB price trend (support and resistance) – Source: TradingView

The return of SHIB crypto buyers is expected, as the “support at $0.0000070 has successfully halted the downtrend.” Achieving a higher low level reflects a bullish trend. The resistance at $0.0000075 could be tested in the near future.

Furthermore, it’s worth noting the possibility of a breakthrough given the interest shown by SHIB crypto buyers. However, if sellers strongly oppose this key resistance level, the crypto itself will not take off.

At the time of writing this article, the Shiba Inu altcoin was trading at $0.00000735 per coin. Crypto analysts have advised keeping an eye on the aforementioned key resistance levels, as SHIB may have already reached its lowest point. Hopefully, the call for Shiba’s burn by LUCIE will be heeded by the community to see SHIB’s dream of reaching 1 cent come true.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.