A member of the Shiba Inu team responded to speculation about the future of the coin amid a growing gap between the technical underpinnings of the coin and promising Shiba Inu price expectations. The Shiba Inu tech ecosystem has been going through a period of relative calm with no exciting announcements or new partnerships over the past few months, keeping the Shiba Inu out of discussions about the best meme coins.
Team member Lucie’s account denied claims about the project’s impending demise, adding: “The technical system of the Shiba Inu currency has remained steadfast in the face of all challenges, and continues to develop and struggle. »
Despite repeated price hikes since its launch in 2023, the total reserved value (TVL) within the Shibarium Network’s technical system currently stands at just $2 million according to DefiLlama data, representing a modest increase of $400,000 in the launch month.
Therefore, the technical system failed to maintain an active user base, indicating low adoption and support from developers. As a result, the Shiba Inu coin’s price movements depend primarily on speculation due to the lack of any practical use that would give it sustainable growth, but it continues to struggle in hopes of a strong price launch once the Shibarium technical system flourishes.
Shiba Inu Coin Price Forecast: Is Its Price Ready to Take Off Strongly?
Speculative activities continue to maintain the seven-month descending channel pattern, and the focus is currently on attempting to break its upper boundary despite weak fundamental pillars, as price consolidation above the channel’s lower boundary continues to solidify the favorable base for a launch, while growing momentum helps put the Shiba Inu currency on the path to an upward breakout.
This comes as the Relative Strength Index (RSI) reading continues to register gradually rising levels, moving closer to surpassing the mid-range of 50, while the MACD trendline continues to move above the signal line, suggesting increasing buying pressures, allowing the price to cross a stable ascending wave if the MACD indicator maintains its path, and the RSI reading provides a favorable base to start by surpassing the value of 50, this which will allow breaking the $0.000012 barrier and bringing it back to a level. Support.
The re-establishment of the $0.000012 zone will pave the way for the Shiba Inu coin price. Cross a strong wave rising 170% Targeting the $0.000024 barrier, While higher goals – like reaching $0.0001 – require the Shiba Inu’s technical system to flourish.
On the other hand, the collapse scenario remains without the availability of basic supports for the price of the Shiba Inu currency in the face of market obstacles, especially since the breakdown of the minimum price channel will allow a 30% correction wave towards the demand zone around $0.0000067.
Maxi Doge-MAXI: Is it a better bet than the Shiba Inu?
Meme currencies go through stable and strong investment cycles; As one of the market leaders reaches its peak, investment begins to shift to the next promising competitor. We see this repeated currently between the Shiba Inu coin and the dog-inspired Maxi Doge coin, which continues to attract market attention in conjunction with the former suffering from a lack of liquidity.
Every bull market has a dog-inspired hit play; The Shiba Inu coin took over the mantle of Dogecoin-DOGE in 2021, followed by Floki-FLOKI, Bonk-BONK, Dogwifhat-WIF and Neiro-NEIRO respectively, recently ending with Doge-DOWGE.
On the other hand, this dynamic has already started to translate into tangible numbers. The Maxi Doge coin offering raised approximately $4 million, while providing an attractive 75% annual mortgage yield to early investors.
For those who missed the Dogecoin launch, Maxi Doge represents a new opportunity to jump on the meme earnings train from its first stop in preparation for its next launch.
To visit the official Maxi Doge coin subscription website, click here
The post Shiba Inu-SHIB Currency Price Expectations Amid Spreading Feelings of Fear, Doubt, and Uncertainty (FUD) Due to Continuing Wave of Decline, But Those Aware of Internal Developments Believe It’s Preparing for a Strong Start appeared first on Cryptonews Arabic.