Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
As the third quarter is coming to a close, many altcoins are scampering to end September on a stellar note, and Shiba Inu (SHIB) is also making related bullish moves. At the time of writing, the meme coin has seen its price soar to $0.000007399 atop 2.33% growth in what can be categorized as one of its more definitive moves thus far this week.
By virtue of its current surge, the token is notably trading above its crucial support line at $0.000007, which many observers believe it would not have been able to hold amid the bearish consolidation being experienced in recent times. The sheer resilience SHIB is exhibiting is currently being bolstered by the more than 3% surge in trading volume, a showcase that more traders are making their way to the ecosystem at this time.
SHIB is particularly leaning on the unique sentiment that is hovering around Shibarium, its Ethereum-based Layer-2 scaling solution. With Shibarium block production currently going smoothly, a new milestone that will see total block production hit the 900,000 benchmark is currently being envisaged by the community.
Growth amid big expectations
Shiba Inu is a meme coin with big ambitions that are generally manifested in its visions for Shibarium.
While this vision appears to be in hibernation with many dApps sparring since its second rebirth to date, members of the Shib army are generally enthusiastic, with promises from lead developer Shytoshi Kusama about the big things that are purportedly coming to the ecosystem in the near future.
Shibarium has its competitors, but developers are optimistic that the number of innovations and partnerships in the works can give it unique leverage to outpace some of its bigger rivals in the months to come. With the broad Shibarium sentiment, SHIB hopes to regain its spot among the most capitalized cryptocurrencies moving forward.
Arman Shirinyan
Alex Dovbnya
