The SHIB pool paves the way for this Shiba Inu update to revolutionize the market

price action for graying She was younger than the stars during the months of September and October. The lack of good reception for the new Al Shaiba team match, Sheba Immortality, just to confirm this point. Growing impatience with the seemingly endless Shibarium waiting for release didn’t help matters.

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Here AMBCryptos Predict the price of Shiba Inu [SHIB] For 2022-2023

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However, the dog-themed meme coin has recently seen a price hike which cannot be attributed to any significant updates. On the contrary, the price increase was a rub against the rise of another dog-shaped icon. The The daily SHIB price time frame revealed that the token has gained nearly 60% since the start of its upward trend.

Data from Coinmarketcap show up That in the last 24 hours, the trading volume increased by more than 28% and the market capitalization increased by more than 6%.

Source: TradingView

DOGE is the sole leader of SHIB?

According to Santiment, the recent spike can be seen in the 24-hour daily active heading scale. It was noted that the number of active addresses over a 24-hour period exceeded 10,000 on October 29 and 30.

Given the low numbers before that, this was a pretty impressive achievement. In addition, it was a sign of increased activity on the Chiba network.

Source: feeling

The MVRV ratio further showed that SHIB’s price movement was actually to the upside. At the time of writing, a 30-day MVRV indicated that SHIB was operating at 18% gain. This indicates that SHIB has gained 18% of its assets in the past 30 days.

Source: feeling

The rise in value of SHIB was not the result of any initiative on its part. It was rather a secondary effect of the similar huge evolution around her dogAnother dog-themed icon.

Doge The price has also gone up and since it started it has gone up more than 150%. Confirmation of Elon Musk’s acquisition of Twitter sparked optimism that DOGE could be used on the platform. Thus it contributes to the upward trend.

The rise has been largely based on rumors, and Elon Musk himself has been fair chirp A sarcastic photo on his Twitter page, did not help. Although there was no direct relationship with DOGE other than a common theme, SHIB was able to benefit from the DOGE price increase. Additionally, consumers are buying in anticipation of SHIB joining DOGE if it becomes useful on Twitter.

By looking at the Relative Strength Index (RSI) it showed that SHIB was clearly bullish as it was well above the neutral territory. Also, it was heading in the direction of the overbought territory, which could lead to a correction.

Shibarium update

Shiba Inu Developer Shytoshi Kusama replied For inquiries regarding Shibarium on Twitter by saying that the game Shiba Eternity was the first strain. This will be followed by Shibarium, which the game will follow in Shibarium. Kusama went on to say that the community will be updated on all things Shiba Inu via a blog.

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