SHIB Pump Coming? Buy Now and Profit on Shiba Inu Price Surge!

• Shiba Inu (SHIB) has dropped by 9% in the past 24 hours, with today’s losses reducing its gains for the year-to-date to 10%.
• SHIB has become one of the most-traded coins in the past 24 hours, with CoinGecko putting it 14th among „top purchased tokens“.
• With the launch of layer-two network Shibarium imminent and SHIB still being widely held by whales, there are plenty of reasons to be optimistic about its future.

SHIB Price Drop

Shiba Inu (SHIB) has dropped by 9% in the past 24 hours, with today’s losses reducing its gains for the year-to-date to 10%. At $0.0000099, SHIB is also down by 17% in a week and by 30% in the last 30 days.

Popularity Among Traders

SHIB has become one of the most-traded coins in the past 24 hours, with CoinGecko putting it 14th among „top purchased tokens“ today. The meme token also remains the most widely held cryptocurrency among whales (apart from ETH, USDC and USDT), indicating that it still remains a favorite with big investors.

Optimism About Future

With the launch of layer-two network Shibarium imminent and SHIB still being widely held by whales, there are plenty of reasons to be optimistic about its future. Its relative strength index (purple) has just dropped below 30, while its price has dropped below its 30-day (red) and 200-day (blue) moving averages, indicating that it’s now being oversold. As such, SHIB is arguably selling at a big discount and should rise again in the not-too-distant future.

Silvergate Bank’s Liquidation

The price of Shiba Inu was brought down by news of Silvergate Bank’s liquidation as well as a more hawkish stance from Federal Reserve concerning further rate hikes. Despite this negative news impacting prices short term, there is still hope for recovery long term due to positive indicators such as top ERC20 holdings amongst whale investors and SHIB remaining 13th on “top purchased tokens” list.

Launch of Layer Two Network Shibarium

The launch of layer two network Shibarium is imminent which will enable faster and cheaper transactions for Shiba Inu ecosystem potentially pushing it further in long run . Alongside this , bigger investors continue to have faith in longer term future of Shiba Inu giving hope for recovery soon.