Shiba Inu Price Prediction as SHIB Becomes Top Performing Coin of the Week as Shibarium Launch Approaches – Can SHIB 1,000x From Here?
The price of Shiba Inu (SHIB) remains up by 7.5% in the past week, despite the meme token's 1.5% drop today, to $0.00000897.
SHIB is also up by 18% in the last 30 days, as the market becomes increasingly optimistic about the approaching launch of Shibarium, Shiba Inu's very own layer-two network.
And while the full public launch of Shibarium has been delayed on a number of occasions over the past few months, it now seems as though developers are finally ready to deploy the layer-two network, which will boost Shiba Inu development and adoption in the long-term.
While SHIB's weekend saw it rise as high as $0.000010, it has since corrected a little, meaning that its technical indicators are showing reduced momentum at the moment.
The coin's relative strength index (purple) has dropped from just over 80 on Saturday to just below 50 today, something which suggests that its pre-Shibarium rally may have already died down.
On the other hand, SHIB's 30-day moving average (yellow) continues to rise strongly above its 200-day average (blue), indicating that it still has some momentum left and could see further rises in the next few days.
Indeed, it's encouraging to note that SHIB's price hasn't fallen back down to where it was a week ago, but has instead remained in an elevated position, possibly ready to launch another rally.
Regardless, it seems that the meme token's steadily rising support level (green) should mean that, even if it doesn't rally big again this week, it's unlikely to fall back to where it was at the start of the month.
As noted above, the main reason for SHIB's bullishness is that the long-awaited launch of Shibarium looks as though it's about to happen this month.
The layer-two network's developers have hinted that the
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