• Shiba Inu price is currently experiencing a bearish wave and has dropped below the psychological level of $0.00001.
• The launch of Shibarium on ShibaSwap may cause burning up to 111 trillion tokens per year, potentially pushing prices higher.
• A ‘Adam & Eve’ trend reversal pattern has been formed in the daily chart indicating that SHIB price could possibly rise beyond $0.000017 soon.
Shiba INU Price Analysis
Shiba Inu price continue to flash bullish signals despite the market conditions going extremely bearish. The platform aims to uplift the SHIB price to $0.01 and hence burn 100 trillion SHIB each year.
Recent Market Activity
Shiba Inu is breaking down, with prices having dropped by more than 12% since the previous trading day and piercing through the crucial support at $0.00001, validating the commencement of a fine bearish wave.
Potential Solutions To Increase Price
Shytoshi Kusama, Shibaswap’s lead developer, recently confirmed that the Shibarium beta version will be released this week. If we consider the burning mechanism of SHIB, then 111 trillion tokens could be burned every year if things happened as per the plan.
„Adam & Eve“ Trend Reversal Pattern
A ‚Adam & Eve‘ trend reversal pattern has been formed in the daily chart indicating that SHIB price could possibly rise beyond $0.000017 soon.
The above chart displays formation of ‚Adam & Eve‘ trend reversal pattern in daily chart which could flip current bearish trend into positive direction for Shiba INU cryptocurrency.