From a low in May, SHIB’s valuation has increased by 66%. Although SHIB has had a downside correction in the past few days, the uptrend is still intact on the weekly time frame chart.
At press time, SHIB is trading at 0.0000898 USD. With a gain of 11.35%, SHIB will be able to eliminate a zero and trade at $0.00001. In fact, last week, the SHIB price was trading around the aforementioned level.
However, for the SHIB to clear the two zeros and trade at $0.0001, the bulls will have to pump 1013% more from the current level. SHIB has recovered strongly in past bullish periods. In the second half of 2021, SHIB posted a four-digit percentage increase. This feat opens the door to expectations for SHIB to recover similarly under bull run conditions in the future.
From the current price, if two such zeros were removed, the SHIB would hypothetically be valued at $0.000898. To rise to this level, the bulls will have to “pump” 9900%. For now, reaching this price point seems far-fetched.
Everyone in the SHIB Army community is looking forward to the launch of Shibarium to help increase the price of SHIB and complement other projects in the SHIB ecosystem such as BONE and LEASH. Therefore, next week will be quite urgent for SHIB.
Depending on the upward price pressure gained and the reception of the Shibarium issuance, the SHIB price will react accordingly.
Now the “hype” surrounding SHIB and Shibarium has begun to take shape. Over the past week, SHIB-related social media stats have improved.
Mentions of Shiba Inu, SHIB and Shibarium on platforms like X (formerly Twitter), Reddit, etc. increased by 117%, while engagement and dominance increased between 116% and 125%, showing that people are increasingly discussing and reacting to SHIB-related content.
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