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Shiba Inu (SHIB) Nears Golden Moment With Unprecedented Weekly Win

Mon, 08/14/2023 - 16:10
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Tomiwabold Olajide
SHIB saw notable price ascension
Shiba Inu (SHIB) Nears Golden Moment With Unprecedented Weekly Win
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Shiba Inu is on track for its longest weekly winning streak in months, running into years.

Since July, Shiba Inu has recorded six consecutive weeks of gains due to a steady increase in its price, printing six green weekly candlesticks in a row. If this week closes in the positive, it will be the seventh green week in the crypto asset's epic price surge.

The last time Shiba Inu printed six consecutive weekly candles was in late September 2021, which culminated in all-time highs of $0.000088 in October of the same year.

SHIB/USD Weekly Chart, Courtesy: TradingView

The current weekly win streak did not have the same impact as the aforementioned due to the magnitude of gains and because the market was engaged in lackluster price action.

Shiba Inu and a few other outliers have seen their market caps increase in recent weeks as Bitcoin's price performance remained unchanged. SHIB saw a notable price ascension as it temporarily decoupled from BTC and the altcoin pack.

According to Santiment, an on-chain analytics firm, Shiba Inu noticed a rise in social volume as many traders shifted their focus to the crypto asset. SHIB was down somewhat in the last 24 hours to $0.0000104 at the time of writing. In the last seven days, the cryptocurrency has risen 17%.

Golden moment arrives

Expectations are rising as Shiba Inu teases "some serious Shib excitement," mindful of its big week.

The Blockchain Futurist Conference, Canada's largest and longest-running Web3 event, will begin tomorrow, Aug. 15, bringing together tens of thousands of participants from around the world to discuss the future of blockchain technology.

Shiba Inu is the official title sponsor of this blockchain event, and major announcements are expected.

Shiba Inu (SHIB) Lead Issues Important Warning to Community

According to Shiba Inu lead Shytoshi Kusama, "It's there that the Worldpaper will be on display, fully completed, where all SHIB-branded projects will be revealed, and where TREAT will first be publicly discussed in detail. It's also highly likely we will discuss and even release our long-awaited L2 Shibarium."

Kusama will also be speaking for the first time via AI at the conference.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.