Is an Eruption Inevitable for a Shiba Inu?

There has been an unexpected resurgence in the Shiba Inu’s popularity recently following their new move. While SHIB price movement consolidates, various changes occur in the ecosystem. We have witnessed developments. But is this enough to start a SHIB uptrend? crypto expert Laure Elizabeth, looking for the answer to this question.

Is the Shiba Inu starting to gain traction?

Popular meme coin Shiba InusHe managed to get back on his feet in just a few hours. We witnessed a significant event that greatly benefited the relevant coin, BONE. After this, SHIB appears to be entering its own moment of triumph. After this development, it became one of the altcoins whose price increased the most overnight. SHIB recorded an increase of 2.37% in a few hours. Thus, SHIB appears to be on track for a slight uptrend.

ShibaInu (SHIB) price

Popular meme conin boosts real-world acceptance

Meanwhile, it’s been a big week for Shiba Inu-related news. cryptokoin.comAs you follow from , HSBC Bank was the first to integrate SHIB with XRP into its payment system.

Shiba Inu
HSBC ShibaInu (SHIB) payments. Source: X

Then Wirex and Onramper announced that they were joining forces to offer a crypto payment system to more than 190 countries. Here too, Shiba Inu was one of the few tokens selected for acceptance.

Shibarium tests new technologies

Shibarium may not be as big a disappointment as community members thought. It has received widespread criticism for announcing a less efficient combustion system. Despite this, Layer 2 Blockchain plans to introduce new technologies. Shibarium wants to launch its own domain name service, ShibariumID, by the end of October. A digital authentication system will also accompany this. It is not yet clear whether this will be enough to create a boom in the Shiba Inu token price.

Shiba Inu
ShibariumID launch announcement. Source: X

Shiba Inu network activity is increasing, but be careful!

On the other hand, on-chain Shiba Inu activity is also increasing. SHIB’s network activity has increased by 36% in the last two weeks. However, investors should be careful due to this increase in on-chain activities. As SHIB’s on-chain activity increases, it is possible that this could lead to significant volatility and a potential trend reversal in the coming days.

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