Shiba Inu Eternity Update Awaited – Will This Lift SHIB’s Price?
September 23 2022 - 10:56AM
NEWSBTC
There may be a Shiba Inu (SHIB) rally coming soon. Recent events
have sparked widespread interest in the Shiba Inu project and its
native cryptocurrency. On Thursday, the company’s founder and chief
programmer, Shytoshi Kusama, informed the SHIB Army that the
company’s development team is working on a burn mechanism that will
have implications for the entire Shiba Inu ecosystem. SHIB holders
can’t help but be giddy about the future, what with the community’s
official Twitter account teasing yet another major update. Related
Reading: Will Polkadot Network Progress Give An Ailing DOT Renewed
Vigor? Shiba Inu ‘Eternity’ Excitement A lot has
happened since the Australian release of Shiba Eternity. All of
this excitement and eagerness is only heightened by the latest
statement made by the official account tweet. Thank you to all the
wonderful #SHIBARMY listeners, participants, and those who asked
questions. You rock! See you on Download Day, October 1st/2nd!! 😍😍
#SHIB #Shiboshis #ShibaEternity #SHIBARMYSTRONG
https://t.co/TcGVBZIM10 — SHIBQueenie (@SHIBQueenie) September 23,
2022 The Shiba Inu team just announced via the Twitter Space Event
“Shiba Eternity Community Update” the official date for the global
debut of the Shiba Inu Collectible Card Game. According to the
announcement, Shiba Eternity will launch on October 1. The Shiba
Inu Community will celebrate the release as “Download Day” while
simultaneously breaking the Android and iOS App Stores. There was
consequently a lot of excitement about the coin and the overall
ecosystem. There is additional good news for the ecosystem. As of
this writing, the development team is still putting the last
touches to Shibarium, the upcoming update that is anticipated to
debut on or about September 30. That Much-Needed Scalability
Supposedly, this upgrade will provide scalability to the Shiba Inu
ecosystem and cut gas expenses for everyone, particularly on the
gaming side. Will this, however, be sufficient for the coin to
rally? Currently, the coin’s value is between $0.000000957 and
$0.00001230. This indicates that the currency is trading within its
June price range, which is a less favorable period for
cryptocurrencies. Chart: TradingView.com This decline in price,
which followed a progressive climb from June to August, is the
result of larger market factors. The recent 0.75 percent increase
in interest rates and the news of worsening year-over-year
inflation caused investors and traders to feel dread. The price
decreased by a stunning 25.06 percent from its latest peak on
September 10. SHIB Seen Rising To The Occasion Nevertheless, it has
risen to the $0.00001038 price range from its bottom on September
21. This range of prices will support the token’s expected relief
rally. The last decline at $0.00001192 represents the resistance.
This level is critical since bulls can easily exploit any
breakthroughs towards the 78.60 Fib level. Due to the fact that the
SHIB token is based on Ethereum, its value might be affected by the
Ethereum ecosystem. The current market conditions can magnify the
coin’s volatility that may lead to a crash. If the larger
financial markets rebound from the decline on September 13, we can
anticipate SHIB to ride the tide of recovery. Related Reading: What
Ethereum Can Bring On The Table For ETH Investors In Q4 SHIB total
market cap at $5.8 billion on the daily chart | Source:
TradingView.com Featured image from Coin Culture, Chart:
TradingView.com
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