Shiba Inu [SHIB] Accepts Intake Form for Shibarium; Price Rises

• Shiba Inu recently announced that it had started accepting intake forms for its Shibarium.
• This news caused SHIB’s price to rise, but BONE did not react accordingly.
• An address transferred 128 billion SHIB to Crypto.com and Gemini, which could potentially push the price of SHIB down in the future.

Shiba Inu Accepts Intake Forms for Shibarium

Shiba Inu recently announced that it has started to accept intake forms for its much-awaited Shibarium. This announcement initiated excitement across the entire crypto space as developers can now find the best projects and get linked with other developers who can help or assist them with their projects. It should be noted that it is not necessary to fill out the intake form in order to build on Shibarium.

SHIB Price Uptick, But BONE Remains Unaffected

Soon after this announcement, SHIB’s price reacted positively and registered gains in the last 24 hours. As per CoinMarketCap, it increased by more than 2%, and at the time of writing was trading at $0.00001277 with a market capitalization of over $7 billion. However, despite this positive response from SHIB’s price, BONE remained unaffected and did not manage to paint its daily chart green despite being on a gaining spree over the last few days and even entering into top 100 club recently.

Potential Price Drop Due To Major Sell Off

Lookonchain revealed that an address transferred 128 billion SHIB tokens worth $2.3 million to Crypto.com and Gemini wallets respectively which triggered a major sell off indicating potential drop in prices in coming days as historically whenever this address transferred SHIB tokens value dropped substantially by 7%.

Will Shibarium Hype Be Enough To Save SHIB?

Considering past episodes as revealed by Lookonchain, possibility of trend reversal cannot be ruled out however checking on-chain metrics provided better understanding about current situation of cryptocurrencies so far no significant changes have been reported due yet it is too early to predict any major shift in prices due to recent developments related to Shibarium acceptance system announcement .

Conclusion

Shibrium has definitely created hype among cryptocurrency traders but whether or not these announcements will be enough to save SHIB remains yet unseen as there are chances of potential drop in prices if major sell off continues thus investors must check on-chain metrics before making any investment decisions regarding digital assets like Shiba Inu token (SHIB).

Kommentare sind geschlossen.