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Shiba Inu Community Buzzing After Shiba Eternity Update and Price Surge

Shiba Inu Community Buzzing After Shiba Eternity Update and Price Surge

Shiba Inu (SHIB) enthusiasts are celebrating a major upgrade to the Shiba Eternity collectible card game (CCG) and a recent price surge. The official Shiba Inu account on platform X hinted at a bright future for SHIB with a cryptic tweet referencing a solar eclipse.

Shiba Eternity Gets a Boost

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The long-awaited update to Shiba Eternity brings a variety of improvements, including:

  • Bug fixes
  • Performance optimizations
  • A smoother experience on older devices

This update is seen as a significant step forward for the play-to-earn (P2E) version of the game on Shibarium, the Shiba Inu blockchain.

SHIB Price Soars on Multiple Fronts

Shiba Inu has seen a remarkable 133% year-to-date (YTD) price increase and is poised for further growth according to some analysts. Captain Faibik, a crypto analyst, predicts a potential 2x bullish rally, with SHIB reaching $0.000060 by year’s end.

Several factors are contributing to SHIB’s momentum:

  • Increased Burn Rate: The rate at which SHIB tokens are being burned has skyrocketed by 1,344.14%, reducing supply and potentially driving prices up.
  • Exchange Listing: The recent listing on Nexo, a prominent crypto exchange, has likely expanded SHIB’s investor base and boosted demand.
  • Technical Analysis: A technical analysis suggests that SHIB could experience a price jump if it breaks through the $0.000029 resistance level.
  • Anticipation of Bitcoin Halving: With the next Bitcoin block reward halving approaching, investors are looking to altcoins like SHIB, leading to a rise in optimism.

A Potential Turning Point on April 17th?

Charts indicate a possible price boost for SHIB around April 17th. The 50-day EMA (Exponential Moving Average) might converge with the current price, creating a support level and encouraging further upward movement. This potential support could entice more investors and accelerate price growth.

Looking Ahead: A Cautious Optimism

While the future looks bright for SHIB, the cryptocurrency market remains volatile. Investors are advised to exercise caution, considering SHIB’s history of sudden price fluctuations.

Overall, the Shiba Inu community is energized by the recent developments, and SHIB’s future appears promising. The coming weeks will be crucial in determining whether SHIB can capitalize on its current momentum and break through key resistance levels.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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