Shiba Inu Coin Price Forecast As Shibarium Upgrades Roll Out, What’s Next for SHIB?

Shiba Inu Coin Price Prediction: SHIB, a popular meme coin, is trending significantly lower in price due to market backlash, reflecting the wide volatility in the crypto sector. the current, SHIB price was down 2.33% at $0.0000252, showing bearish momentum as investors react cautiously to fluctuations in market conditions.

Shiba Inu’s 24-hour trading volume decreased by 10% to a total of $661.23 million. The cryptocurrency’s market capitalization also decreased by 2.33% to $14.85 billion, keeping it in 11th place overall. The total available supply of SHIB remains unchanged at 589.29 trillion coins.

Shiba Inu coin price prediction

Over the past week, SHIB’s value has increased by more than 10%, with the price fluctuating between $0.000022 and $0.000028. However, over the past month, Memecoin has fallen 16% following a peak price of $0.000035, suggesting a downward trend in market value.

Shibarium Project Update: Performance and Scalability Enhancements

The Shiba Inu development team has announced an upcoming hard fork of the Shibarium project, scheduled to launch on May 2nd. This was revealed through the official website. X This enhancement targets Ethereum-based Layer 2 solutions and promises to be a significant advancement.

The purpose of this hard fork is to streamline user interaction and align more closely with community expectations. Key improvements include faster block processing speeds and more stable transaction fees, allowing us to directly address performance issues raised by our users.

This update is part of a broader effort to enhance the scalability and efficiency of the protocol, ensuring a smoother experience for all participants in the Shibarium ecosystem.

Technical analysis: potential fluctuations in SHIB price

meme coin shiba inu coin is currently facing a major resistance level at $0.000026. If the bulls can take control and break through this barrier, the coin’s value could rise towards his $0.00003. This could push it up to $0.00005.

On the other hand, if the bears tighten their hold, the coin could return to the support level at $0.000024. If market sentiment turns more negative, SHIB could fall to $0.00002 or even below $0.000009, indicating difficult conditions ahead.

The Bollinger Bands on the daily chart show that SHIB Coin is trading within a narrow range. The top of the Bollinger Bands is located at 0.00002986, indicating a potential resistance level. Meanwhile, the lower Bollinger Band is located at 0.00002520, suggesting a possible support boundary. The market appears to be hovering around the lower band, which is a sign of bearish pressure in the market.

Shiba Inu Coin Price Prediction | Source: trading view

The Relative Strength Index (RSI) is 49.04, indicating a neutral trend for the market. The average directional index (ADX) is 18.21, indicating weak trend strength.

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