- The SHIB market is now supporting the bulls, with prices going higher.
- Shiba INU’s layer-2 solution, Shibarium, might be the catalyst for the SHIB price rally.
- Bears drove Shiba Inu prices down, but they finally stabilized around $0.000008684.
Shiba Inu’s (SHIB) upward momentum was short-lived as prices encountered intra-day resistance of $0.000008987. Bears controlled the market during the day, but as of press time, bulls were attempting to reclaim control, with prices rising by 3.63% to $0.000009187.
As the year winds down, bullish momentum is expected to take over the market as investors anticipate the release of Shiba INU’s layer-2 solution, Shibarium, whose sole purpose is to optimize the network on Ethereum with enhanced stability, faster transactions with fewer fees, and user-friendly metaverse and dApp development.
The advancing market capitalization by 0.26% to $4,892,316,509 further supports today’s positive trend; however, the declining trading volume of 19.04% to $116,924,107 dims this trend, implying that decreasing volume in an upswing may indicate that it’s time to sell and take gains.
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