Bitcoin price surpasses $70,000, boosting SHIB price. Altcoins are generally on the rise. However, significant details allow Shiba Coin to positively differentiate in this process. Indeed, its price has risen above average.
Shiba and Shibarium
The ambitious Shibarium, launched last year with ideals and goals, did not reach the levels seen during its testnet period. However, there are intermittent increases in network activity, triggering short-term price movements. According to data from Shibariumscan, new transactions on Shibarium increased by 50%, reaching 7,691. On Friday, this was 5,150.
Additionally, the number of Shibarium users has accelerated. Starting from 105,367 on May 1, it reached 113,732 by May 27, indicating a faster recovery in network interest.
The integration of ShibaSwap into Shibarium was one of the most significant developments in May, and Shiba Inu developer Kaal Dhairya said;
“This release focuses on exploration, so let all creative geniuses make memes! Moving forward, we will continue to make regular updates and upgrades, and everyone should remember that this is not a race, but a marathon.”
Shiba Coin Price Prediction
The second-largest meme coin, continuing with a 6% increase, may target higher levels in the coming hours. The current volatility contraction pattern (VCP) indicates a breakout. The technical formation caused by increasingly narrowing price fluctuations is considered a strong signal of potential price breakouts.
There is a neckline that needs to be surpassed, and the SHIB price is lingering at this $0.00002631 neckline region. If the expected breakout occurs, we could see the Shiba Coin price increase by 32%, moving towards the resistance area at $0.00003282.
However, if the breakout is unsuccessful, the price may retreat to the support at $0.0000234. If this level is also lost, $0.00002052 will be a risky target. The total volume of cryptocurrencies climbed to $77 billion, increasing by 41%. While BTCD fell from 53%, ETH dominance rose above the 18% region in favor of altcoins.
