Enthusiasts of Shiba Inu (SHIB) were eagerly awaiting the launch of the Shibarium mainnet, and exciting news has emerged.
How Many Dollars Will Shiba Inu (SHIB) Cost?
A team member from the SHIB development team, using the pseudonym Shibarium1, recently announced that the launch of the Shibarium mainnet has been accelerated. This announcement was shared on Twitter by Lucie, the official content marketing expert of the Shiba Inu ecosystem, on May 23rd.
To examine the latest updates surrounding SHIB‘s development more deeply, information from Price Predictions, a renowned cryptocurrency analysis and forecast platform that utilizes advanced machine learning algorithms, was consulted in recent days.
As we approach the midpoint of the year, the platform’s data shows that SHIB is expected to reach $0.00000854 by June 1, 2023. Although this represents a slight decrease in price compared to the current trading value, it remains a notable price movement that SHIB enthusiasts and investors need to consider.
The algorithm is based on various technical analysis (TA) indicators such as moving average (MA), relative strength index (RSI), moving average convergence divergence (MACD), average true range (ATR), and Bollinger Bands (BB), all of which play a significant role in the platform’s prediction methodology.
SHIB Price Analysis
Currently, Shiba Inu‘s trading price is at $0.0000085, having experienced a decline of over 3% in the last 24 hours. Technical analysis indicates a support level at the $0.00000831 mark, potentially indicating a point where buying pressure could increase, potentially leading to a price rebound.
On the other hand, there is a resistance level at the $0.00000918 mark, which could represent a price point where selling pressure might intensify, potentially hindering upward movement.
Expected Shibarium Launch Date
In response to Shiba Inu users’ expectations regarding Shibarium’s launch, Shytoshi Kusama, the pseudonymous leader of the SHIB development team, addressed the issue on Telegram.
Kusama explained that his previous statement about Shibarium being launched before May had been taken out of context, and therefore, he refrained from giving a specific date. However, he reassured the community by stating that the team was actively working on the project and was in “continuation mode”, and would provide updates soon.
Meanwhile, Lucie shared developer Shibarium1’s views suggesting that the Shibarium launch could potentially take place in August. This forecast differed from Shytoshi Kusama‘s earlier mention of a possible launch in July. Taking into account the various teams involved in the Shibarium launch and the integration of artificial intelligence, Lucie stated her belief that the launch could occur in the third quarter of this year.
Considering the evolving dynamics in the meme token sector and the rise of Pepe, it is not yet clear how the launch of Shibarium and related developments will impact the price dynamics of SHIB and other associated tokens.
