Shiba Inu Community Focuses on SHEboshi Launch: Will SHIB Price Rise?

  • The price of Shiba Inu is trading in the red, causing speculation within the community about the latest developments and the launch of SHEboshi.
  • According to a post shared by the SHEboshi community on February 23rd, the tokens were depleted about a day after the launch.
  • The SHEboshi community highlighted other places in addition to decentralized exchanges (DEXs) such as SHIBASWAP and UNISWAP to trade the newly launched token.

The increase in activity on the Shibarium network and the launch of SHEboshi are closely watched in the Shiba Inu community: What will happen next?

Shiba Inu Introduces SHEboshi NFT Collection

shiba-inu-shib

Recently, amid a series of developments within the Shiba Inu ecosystem, the global interest in SHEboshi, ERC-404 token, and daily transactions on Shibarium has drawn attention among crypto market enthusiasts. Shortly after the launch of SHEboshi, stocks were depleted, with daily transactions on Shibarium approaching 4 million. The crypto journey of Shiba Inu coin has sparked market optimism for SHIB tokens.

However, as of the time of writing, the price of Shiba Inu is trading in the red, causing speculation within the community about the latest developments and the launch of SHEboshi. Nevertheless, an analysis by COINOTAG indicates that technical indicators are excluding a bullish market for this Ethereum-based meme token, aligning with the increase in the weekly SHIB burn rate.

According to a post shared by the SHEboshi community on February 23rd, the tokens were depleted about a day after the launch. On the other hand, Shibarium transactions reached 3.95 million, consistent with the increased activity seen with the SHEboshi launch. This demonstrated significant popularity for the project in the broader crypto market and generated optimism for Shiba Inu’s future ventures.

Interestingly, despite the Shiba Inu crypto community significantly increasing its supply just before the SHEboshi launch, DN404 test tokens were depleted in just one day. This situation seems to have attracted the attention of global crypto market traders and investors as Shiba Inu continues to revolutionize its ecosystem.

Meanwhile, the SHEboshi community highlighted other places in addition to decentralized exchanges (DEXs) such as SHIBASWAP and UNISWAP to trade the newly launched token. However, contrary to this situation, the price of Shiba Inu is currently trading in the red today.

Shiba Inu Price is Showing a Decline

As of the time of writing, the Shiba Inu price recorded a 1.25% decline in the last 24 hours and is currently trading at $0.000009555. Interestingly, the token briefly traded in the green today, in line with the Shiba crypto community’s recent massive transfer.

Meanwhile, an analysis by COINOTAG showed that the token significantly surpassed the $0.0000095 resistance level, leading to bullish sentiments for SHIB. With the continuous burning of SHIB, combined with the community’s latest developments and the surge in activity on Shibarium, crypto market enthusiasts are expecting strengthened prices in the future.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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