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- Attention is focused on the Blockchain Futurist Conference and ETH hackathon taking place in Canada.
- The launch of the Shibarium mainnet is anticipated to occur on August 15–16, 2023.
This week, the Shiba Inu team has been signaling the forthcoming release of the Shibarium mainnet at the upcoming event. Attention is focused on the Blockchain Futurist Conference and ETH hackathon in Canada.
In the days leading up to the launch, the SHIB price has experienced an upward movement, contrasting with the broader cryptocurrency market, which has remained relatively stable since the U.S. SEC announced a delay in the spot Bitcoin ETF.
The official SHIB Twitter account recently teased the Shibarium launch with a tweet stating “Soon.” The Shibarium mainnet is expected to launch on August 15–16, 2023, during the Blockchain Futurist Conference in Toronto, Canada.
High Volatility Anticipated
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Additionally, on Saturday, the $SHIB burn tracker reported the transfer of 18,702,159 SHIB to a dead wallet. Traders have been eagerly awaiting the Shibarium release, making it uncertain how the launch will impact the SHIB token’s price.
Moreover, new information from IntoTheBlock indicates a remarkable 1,194% increase in investments from SHIB whales. The current bullish trend is underscored by an increase above the short-term 50-day SMA.
If the present trend persists, SHIB may encounter resistance in the range of $0.00000908 to $0.00001280. Conversely, a trend reversal could push prices down below $0.00000774 and $0.00000708 to the support levels.
As per CMC, the current price of SHIB is $0.000011 USD, with a 24-hour trading volume of $659,775,755 USD. Shiba Inu has risen by 2.56% in the past 24 hours.
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