• The Shibarium network is now live following its initial rocky start, giving an optimistic 2.24% boost to SHIB prices.
• Currently, SHIB prices are coiling up in a symmetrical triangle pattern, and may soon reach $0.00000794 or the $0.00000750 mark depending on whether buyers or sellers take control of the trend momentum.
• If SHIB prices break above the resistance trendline, they may resurface above $0.000010.
Shiba Inu Price Analysis
Shibarium Network Live Again
Following the recent embarrassment of the Shibarium network failing to respond, the layer-2 scaling solution for the Shiba Inu blockchain is now live. Despite the initially rocky start, the market welcomes this news with open hands as it gave an optimistic 2.24% boost to SHIB prices last night.
SHIB Prices Coiling Up
Following a 23% drop in just four days, SHIB price enters a diagonal low momentum trend with a symmetrical triangle pattern formed in its 4-hour chart. The 50 EMA provides additional resistance to this triangle pattern along with the resistance trendline while last night’s jump completes its positive cycle and faces rejection from this confluence of resistances. Currently, SHIB trades at $0.00000811 with an intraday fall of 1.09%.
