What happened?
The SHIB leader Shytoshi Kusama revealed a new vision for the Shiba Inu ecosystem on a recent podcast. The updates include an expansion of the Shiba Inu meme culture to the Asian market, improvements in privacy with FHE, and a bridge named Hoichi. Additionally, Shibarium, a Layer 2 solution built on the Ethereum network, was developed to solve scaling issues.
Who does this affect?
This affects current holders and potential investors of Shiba Inu, as these changes are expected to boost the coin’s adoption and usability. High Ethereum gas fees and slow transactions which hindered the usage of dApps like ShibaSwap will be addressed by Shibarium. This could attract and retain more users to the system.
Why does this matter?
These developments could potentially lead to bullish price predictions for Shiba Inu. Crypto analyst JavonTM1 has indicated a bullish pattern for $SHIB in the MACD Histogram, suggesting a potential over 163% increase to the $0.00003 range. Moreover, a new double-bottom pattern at the $0.00001183 support level suggests a potential 22% upside move from current levels.