Shiba Coin, the second largest meme coin by market value, made a stormy entrance in 2021. However, despite numerous developments and the release of several applications by the team, Shiba Coin’s price has not been able to surpass its all-time high level since its listing on Binance.
Shiba Coin Comments
The Shiba Coin team will likely announce a new token soon. When you check their website, you will find another frozen altcoin alongside Shib, Bone, and Leash tokens. Perhaps the Shiba Coin team is planning to introduce a token that will support their new product or be connected to their existing products.
The best time for the announcement might be now, as the price of Bitcoin is above $42,000. We may see important breaking news in the coming days and hours. Shiba Coin team has developed various products such as Metaverse, NFT, and DEX. However, they need to focus on supporting the adoption of their existing products as the excitement has dwindled.
For example, Shibarium, their latest product, entered our lives this year due to the increasing interest in layer2 solutions. Yesterday, there was a significant increase in active and new addresses, which we reported. However, it did not seem sustainable, and today’s situation is as follows:
If the team takes steps to support Shibarium, attracts developers to its network, and enables the release of truly beneficial applications, the expected rally may begin.
Shiba Coin Price Prediction
The price has been unable to sustain above $0.0000093 in the middle area of the parallel channel. However, the fact that it can still maintain $0.000009 is positive. If there is a significant announcement or a development that supports demand, one zero may be removed from the price. To end the downtrend, it is important for the price to return to the $0.00002 levels by removing one zero.
In an environment where Bitcoin consolidates around the $42,000 region and Shiba Coin outperforms the market average, we may see a test of the $0.0000177 peaks after $0.0000114 and $0.000013.
At the time of writing this article, BTC is trading at $42,250, and its 2023 peak in the last 24 hours was $42,420.