The Shiba Inu (SHIB) coin was up 0.12% on Saturday. After rising 0.60% on Friday, SHIB stock ended the day at $0.00000843. SHIB avoided below $0.0000080 for the sixth consecutive session.
A bullish start to the day saw SHIB stock climb to an early high of $0.00000871 before retreating. SHIB breached the first major resistance level (R1) at $0.00000855 and the second major resistance level (R2) at $0.00000869.
The reversal saw SHIB stock drop to a mid-afternoon low of $0.00000837. While avoiding the first major support level (S1) at $0.00000822, SHIB rebounded to end the day in positive territory.
Shibarium updates continue to provide SHIB pricing support
After a bullish Friday session, buoyed by easing bets on a hawkish Fed rate hike in February, network news delivered a bullish SHIB session.
Cheparium Network on Saturday gave an update on Cheparium upgrade, likeAnd
“While in our last post we wanted to remind everyone that BONE serves as the necessary gas token to operate within Shibarium, we now also want to officially announce that every Shibarium transaction will burn SHIB.”
Shiparium network moved to SayAnd
We are focused on delivery at the moment, stay tuned for more information and as we get closer to the beta launch. Please continue @tweet and our official portals for all protocol-related information.”
Shibarium’s imminent upgrade and news that the DOGE Foundation is creating a development fund have provided price support. Network upgrades and increased usage make meme coins viable alternatives to fiat money.
But Twitter is likely to remain key for Dogecoin in the near term. We expect an announcement on Twitter’s resumption of the crypto integration project to support DOGE’s return to $0.10.
Today, network updates will continue to be the focal points, as investors need to keep an eye on cryptic news wires for events that might move the dial. In the last hour, the NASDAQ mini could also take its toll, with uncertainty about Fed monetary policy another factor that investors need to address.