Shiba Inu Jumps Up By 0.46%
Shiba Inu experienced a brief 6% jump in value after the announcement of the launch of Shibarium. However, it quickly corrected and is now up 0.46% in the last 24 hours. The trading volume has declined by 40%, suggesting that many are holding onto the token in anticipation of an uptrend.
Shibarium Launch a Success, But Shiba Inu Price Performance Still Remains Lukewarm
Shibarium, the L2 blockchain for Shiba Inu, aims to offer solutions to the slow transaction speeds and high fees of the Ethereum blockchain. It provides three core utilities: Bridge, delegation, and validation. The lack of significant price movement may be due to Bitcoin’s recent downturn, but the launch of Shibarium has been successful in expanding Shiba Inu’s utility beyond being a meme coin.
Shiba Inu Price Analysis
The price analysis of Shiba Inu shows mild growth and consolidation around the current price level. The token’s RSI is in the middle, indicating a lack of bullish sentiment. However, if Bitcoin’s price increases, Shiba Inu may gain attention and see a potential pump.
Chimpzee – Better Alternative to Shiba Inu
Chimpzee is a green crypto project focused on protecting endangered species and fighting climate change. It offers multiple ways for users to generate passive gains, including earning tokens through buying from the Chimpzee shop, interacting with their NFT marketplace, and playing the Zero Tolerance game. The project has gained community interest and has already raised $1.23 million in its presale.
Hot Take
While Shiba Inu has made some positive strides with the launch of Shibarium, its price performance remains relatively lukewarm. The lack of significant price movement and the decline in trading volume indicate a cautious market sentiment. In comparison, Chimpzee presents an alternative project that combines humor, activism, and multiple earning mechanics, making it an attractive option for investors looking for more than just a meme coin.
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