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- Shiba Inu is currently stuck under consolidation.
- Lead developer striked community’s desperation for further developments on Shibarium.
- Partnership with NOWPayments will integrate Shibarium into its payment rail.
Shiba Inu lead developer sparks speculations regarding developments in the ecosystem via his cryptic short post in the official Telegram channel. The community regularly holds discussions on Shibarium and the Shiba Inu ecosystem. The laconic post saying “We’re in go mode”, provoked a positive reaction from the SHIB army. Although the leader of the Shiba Inu developer team, Shytoshi Kusama did not explain the meaning of his message, the community was pleased anyway.
Meanwhile, a minor surge in SHIB price was enough to induce selling amongst crypto whales. As per the data from Etherscan, the whale wallets have transferred nearly 6 billion SHIB tokens to the leading crypto exchanges via multiple transactions. The 6 billion SHIB transferred to exchanges in multiple transactions, and the purchases made of several billion tokens by whale investors, indicate that there is an ongoing interest in SHIB amongst the Shib army.
Furthermore, NOWPayments is set to embrace and integrate Shibarium into its payment rail. Once the integration is completed, the payment gateway would begin to support tokens and projects on Shibarium. The integration of Shibarium will be the birth of a new era of payment platform. At the same time, it would extend the platform for developers.
SHIB Delayed the Reaction
Shiba Inu entered into the consolidation channel after the decline from its recent peak. The stagnant market sets a bearish tone for SHIB price action. The volume records both buyers and seller participation in the market. The Bollinger Bands contract, displaying a dormant market with drained volatility. The current price action takes place beneath the EMA ribbon establishing a bearish outlook for Shiba Inu. The prices, in lieu of the reaction to the developments, can aim to reach beyond $0.00001575.
The present sideways movement in SHIB price occurs at the initial level of Fib retracement, in attempts to test the support before the projected rally. The anticipated bull run will reach the higher levels of retracement to reach beyond the target of $0.00001575. The MACD forms a narrow negative cross and records seller bars in the region below the zero-histogram mark. The RSI moves horizontally about the 40-range reflecting a stagnant seller interest in Shiba Inu.
Conclusion
Shiba Inu and Shibarium are almost always in the headlines, and the community has supported the developer team in each project. The Shibarium event was received well by the community and now it is being integrated by NOWPayments to begin a new era of payment platform. The recent consolidation is predicted to be breached soon by a bull run. The holder can rely on the support near $0.00000995.
Technical levels
Support levels: $0.00000995 and $0.00000860
Resistance levels: $0.00001160 and $0.00001285
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
