SHIB Bulls’ Near-Term Target Remains $0.00000900 on Shibarium News

Shiba inu coin (SHIB) rose by 0.12% on Saturday. Following a 0.60% gain on Friday, SHIB ended the day at $0.00000843. SHIB avoided sub-$0.0000080 for the sixth consecutive session.

A bullish start to the day saw SHIB rise to an early high of $0.00000871 before hitting reverse. SHIB broke through the First Major Resistance Level (R1) at $0.00000855 and the Second Major Resistance Level (R2) at $0.00000869.

The reversal saw SHIB fall to a late afternoon low of $0.00000837. Steering clear of the First Major Support Level (S1) at $0.00000822, SHIB bounced back to end the day in positive territory.

Shibarium Updates Continued to Deliver SHIB Price Support

Following the bullish Friday session, fueled by easing bets of a hawkish Fed interest rate hike in February, network news delivered a bullish SHIB session.

On Saturday, the Shibarium Network provided an update on the Shibarium upgrade, saying,

“While on our last post we wanted to remind everyone that BONE serves as the required gas token for operability within the Shibarium, we would also now like to formally announce that each Shibarium transaction will burn SHIB.”

The Shibarium Network went on to say,

“We are focused in delivery at this time, please stay tuned for additional information and as we approach our beta launch. Please follow @ShibariumNet and our official portals for any information in regards to the protocol.”

The imminent Shibarium upgrade and the news of the DOGE Foundation launching a development fund have delivered price support. Network upgrades and increased adoption make the meme coins viable alternatives to fiat money.

However, Twitter will likely remain the key for Dogecoin over the near term. We expect an announcement of Twitter resuming its crypto integration project to support a DOGE return to $0.10.

Today, network updates will remain the focal points, with investors needing to monitor the crypto news wires for events that can move the dial. In the final hour, the NASDAQ mini could also influence, with Fed monetary policy uncertainty another factor investors must tackle.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *