Shiba INU Plunging Hard, This is Why You Need to be Still Bullish on SHIB Price In the Upcoming Days!
The post Shiba INU Plunging Hard, This is Why You Need to be Still Bullish on SHIB Price In the Upcoming Days! appeared first on Coinpedia — Fintech & Cryptocurreny News Media| Crypto Guide
The crypto market capitalization slid down below the $2 trillion market cap as the star crypto is dropping hard and may lose the $41K levels soon. And hence with the current drop, BTC price is expected to finally visit levels below $38K. Amid the fresh market slash, the Shiba INU (SHIB) price is also expected to slash below $0.00002 very soon.
The SHIB price was swinging within a squeezing channel which was expected for a decent rebound from the lower support. On the contrary, the price slipped hard from $0.00002742 levels to $0.000026. Further after a brief consolidation, the price yet again slipped below $0.000024 which may continue until the levels at $0.00002 are rejected.
Also Read: Ethereum May Not Hold $3000 Levels For More time, ETH Price Could Hit These Levels Soon!
The SHIB price is sliding down within the descending parallel channel since the beginning of the current month. Woefully, the price has lost the middle ranges of the channel and swinging close to the lower support. However, the price after a minor consolidation is expected to rebound strongly towards $0.00002400 initially to halt the bearish trend. Yet the asset could reignite the bull run as the Shib INU’s layer-2 solution Shibarium goes live.
Shibarium which will be the premium L2 for the $Shib token community, & in partnership with the Shib Army, enabling rapid low cost transactions optimized for gaming.
The project TestNet is planned to launch within the next months with a public beta to follow shortly thereafter.
— MILKSHAKE (@shibainuart) April 11, 2022
In a recent update, the public testnet of Shibarium, layer 2 scaling solutions for SHIB cryptocurrency is scheduled to go live soon. The public beta is expected to go live in the upcoming few months. Also according to some reports the SHIB burn portal is approaching its final stages. These factors may ignite the Shiba INU (SHIB) price towards the immediate resistance at the earliest nullifying the descending trend.
