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Memecoins have once again caught the attention of cryptocurrency investors. Following a strong and healthy rise in the price of Dogecoin (DOGE), its competitor Shiba Inu (SHIB) is speculated to be preparing for a 20% price increase. This would mean the removal of a zero from SHIB’s price.
The Rising Momentum in Shiba Inu (SHIB)
Renowned cryptocurrency analyst Ali Martinez reported that the TD Sequential indicator, known for its accuracy in predicting Shiba Inu’s price dynamics, is currently giving a buy signal. This technical indicator is considered highly valuable for the altcoin’s investors as it suggests a bullish trend for SHIB.
Martinez also noted that Shiba Inu’s price could rise to higher levels, reaching $0.010 and potentially even $0.011. The analyst’s bullish expectations have turned investors’ and enthusiasts’ eyes towards SHIB.
According to an anonymous analyst from the Shiba Inu community, known as SHIB KNIGHT, the altcoin is currently breaking a two-year downtrend. SHIB KNIGHT highlighted the reversal signals of the altcoin’s long bearish period by sharing a SHIB/USDT chart. The analyst also suggested that SHIB might be on the verge of a sudden and significant price increase.
Plans to Expand the Scope of the Shibarium Network
Shiba Inu’s marketing leader Lucie outlined ambitious plans in line with the high adoption goal for the Shibarium ecosystem. Lucie stated in a recent post that Shibarium aims to integrate a thousand new projects into its ecosystem.
This strategic initiative underscores Shibarium’s commitment to enhancing its ecosystem and fostering a sustainable and robust community. Incorporating new projects into the network will address specific needs and issues in different communities, paving the way for further growth and progress for the Shibarium network. Additionally, the implementation of new projects will provide community members with additional opportunities to interact with and utilize the various tokens within the Shiba Inu ecosystem, thereby increasing the overall benefit of the ecosystem.
Lucie also hinted at innovative collaborations and projects that will bring new features and solutions to the Shibarium network. More importantly, she assured the Shiba Inu community that existing projects within the network would continue to receive interest and support, emphasizing the commitment to ongoing development and sustainability.
