As a seasoned researcher with a knack for deciphering cryptocurrency trends, I find myself intrigued by the recent developments surrounding Shiba Inu coin. The launch of the K9 Finance Liquid Staking platform on Shibarium today seems to be a significant event that could potentially ignite a price rally for SHIB.
The cost of Shiba Inu coins could soon surge as the price pattern suggests a nearly finished bullish reversal trend. Moreover, an innovative aspect in the Shiba Inu system becomes operational today, potentially leading to a significant increase in trading volume and coin burn rate – elements that might trigger a price surge.
Will Liquid Staking Ignite a Shiba Inu Coin Price Rally?
The long-awaited Shiba Inu Liquid Staking platform is launching on Shibarium today.
Tomorrow at Noon EDT the @K9finance liquid staking platform will be launching on @ShibariumNet!
Liquid staking for $BONE will help $SHIB by
Boosting the cumulative worth secured (Cumulative Secured Value) on Shibarium.
Both of these will help the…
— Shib (@Shibtoken) September 17, 2024
Staking cryptocurrencies in a more sophisticated manner, liquid staking allows users to continue utilizing their digital assets even as they’re being staked.
As per the recent announcement, liquid staking is being introduced for Bone ShibaSwap (BONE). However, this move is expected to positively impact Shiba Inu by boosting the Total Value Locked (TVL) and transaction volume on the Shibarium network. With an enhancement in these key factors, there will be a rise in the SHIB burn rate, which ultimately could escalate the price of the Shiba Inu coin.
Investors Return to Shiba Inu
There’s growing interest among investors in Shiba Inu as the bear market weakens, indicating a possible price surge soon. Data from IntoTheBlock indicates an increase in the number of wallets holding Shiba Inu since June, suggesting that investors are buying into the meme coin, possibly due to the launch of the K9 Finance Liquid Staking platform today.
If people continue to feel optimistic about Shiba Inu, it might trigger more investors to jump on board, potentially causing the price of Shiba Inu coins to rise even further.
The cost of SHIB has dipped a bit, about 0.1%, and it’s currently at $0.00001328. Despite this drop, technical analysis suggests a bright outlook for the coin often referred to as the “Doge-killer.
SHIB Price Analysis: Bullish Reversal In-Play
Right now, the cost of SHIB is moving within a narrow band of $0.00001462 and $0.00001271, hoping for a surge in buying pressure to propel it beyond this consolidation phase. The recent price fluctuations have hinted at the possibility of a double-bottom bullish reversal pattern emerging.
If SHIB‘s price manages to break above its existing resistance level (neckline), it could potentially surge by up to 50%, reaching approximately $0.00002. This level aligns with the previous highs recorded in July and represents the next significant barrier after $0.00001462. With growing investor attention, there’s a possibility that SHIB’s price might be pushed even higher, potentially reaching $0.00002712 – a 103% increase from its current value.
If Shiba Inu coin can’t keep its value above 0.00001271 USD, it might indicate a weak market trend. The price could then shift downwards, potentially dropping to find support at around 0.00001 USD. This decline could challenge the current optimistic outlook for SHIB, casting doubt on the significance of the upcoming Liquid Staking platform launch.
Read More
- USD ZAR PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- CKB PREDICTION. CKB cryptocurrency
- EUR ILS PREDICTION
- SEILOR PREDICTION. SEILOR cryptocurrency
- CFX PREDICTION. CFX cryptocurrency
- HUDI PREDICTION. HUDI cryptocurrency
- Best Turn-Based Dungeon-Crawlers
- UFO PREDICTION. UFO cryptocurrency
- BLACK PREDICTION. BLACK cryptocurrency
2024-09-18 09:10