Shiba Inu’s cryptocurrency, SHIB, has seen little change in the last 24 hours, with a 0.3% increase while the cryptocurrency market has decreased by 0.5%. However, SHIB has been one of the best-performing cryptocurrencies in the past week, gaining 10% in the last seven days. This was due to the increased anticipation surrounding the Shiba Inu layer-two network, Shibarium. One of the network’s lead developers tweeted a cryptic message, “something physical is coming,” last week, leading to the expectation of the network’s launch. With SHIB oversold for several months, the altcoin could experience significant gains.
SHIB’s indicators suggest that it is accumulating momentum, with its relative strength index rising close to 70 as buyers enter the market. Additionally, SHIB’s 30-day moving average has begun to rise and may overtake its 200-day average, implying several days of gains left before the momentum begins to subside. SHIB has seen support from its rising support level, which enables it to attempt price jumps from higher bases.
Shibarium, which is live in beta form, is expected to launch soon. The layer-two network will allow Shiba Inu to build its own ecosystem of decentralized apps. SHIB, which has been running on Ethereum, has faced high transaction fees and wait times. Moving SHIB transactions to its own network will eliminate these issues, leading to steady growth in usage and demand. The coin could potentially rise back up to $0.000010 or 0.000020 in the coming months.
Shibarium’s launch has been hinted at by Shibarium/Shiba Inu developer ‘Shytoshi Kusama,’ who suggested that something unspecified will be released soon. Although it is unclear whether the tweet refers to Shibarium, it has generated excitement in the Shiba Inu community.
Investors in SHIB will need to be patient for the rally to unfold, as there is no fixed release date for Shibarium or SHIB: The Metaverse. Traders looking for shorter-term profits may be interested in diversifying into newer meme coins and presale tokens, such as Wall Street Memes (WSM). WSM is a new altcoin emerging from the meme stocks movement and has already raised over $8.5 million in its presale. It boasts a Twitter account with over 234,000 followers and is expected to be one of the most popular new meme tokens of the year. Investors can enter the presale by visiting the official Wall Street Memes website and connecting their crypto wallets. The sale is in its 15th stage, with 1 WSM costing $0.0295. The price is scheduled to climb to $0.03370000 by the time the final, 30th stage begins. The listing of WSM on exchanges could push its price much higher, making it one of the most profitable tokens of 2023.