The price of Shiba Inu (SHIB) has risen by 2% in the past 24 hours, reaching $0.00001129 as the cryptocurrency market as a whole gains by 3.5%.
SHIB’s price action today means that it has increased by 3% in a week and by 6.5% in the past fortnight, with the meme token seeing a 39% since the beginning of 2023.
Its increase today follows the news that Twitter is now offering cryptocurrency (and stock) trading on its network in partnership with eToro, with the social investing platform already listing SHIB on its own website.
And with Shiba Inu also looking forward to the launches of Shibarium and SHIB: The Metaverse, its native token could be in line for several notable rallies in the coming months.
Shiba Inu Price Prediction as Elon Musk Plans to Add Crypto Trading to Twitter – Will SHIB Be Included?
SHIB’s indicators suggest that it could be in line for further price increases over the weekend, with its relative strength index rising steadily above 50 and beyond.
Likewise, SHIB’s 30-day moving average (yellow) has begun rising above its 200-day average (blue), while its price has shot above both in the past week.
The key resistance level here is $0.0000113: if SHIB can break through this price (something which it has failed to do on repeated occasions since March), then it could likely see further consolidated gains in the next few days.
Rises could be helped by the fact that Twitter has begun rolling out a stock- and crypto-trading feature on its network, doing so in partnership with eToro.
The social network will integrate with eToro so that its users can see real-time cryptocurrency prices on its site/app, while users will also be able to trade crypto on Twitter (but using the eToro backend).
Given that SHIB is among the various cryptocurrencies that eToro presently lists, it could therefore see a boost in trading and, by extension, a boost in price.
SHIB’s price will also be helped by the arrival of layer-two network Shibarium, which is due a full public rollout in the next few weeks, following the launch of its beta last month.
The latest available data reveals that the layer-two network has processed over three million transactions to date, testifying to how widely it’s being tested by developers and to how popular it could become once publcly launched.
Promisingly, Shibarium’s official launchpad has also revealed it’s receiving thousands of applications from projects to launch apps on its network, something which also suggests that the layer-two could help causde an explosion in the size of Shiba Inu’s ecosystem.
It should also be pointed out that Shibarium will result in more SHIB being burned, with its development team confirming that each transaction on the layer-two will burn a portion of its overall value.
Even though the specific rate at which SHIB will be burned hasn’t been confirmed, this is very bullish for the meme token, and the market can expect it to rise gradually in price over the coming months.
From its current price of around $0.00001129, traders could expect it to reach $0.000015 following the launch of Shibarium, with the coin potentially rising up to $0.00002 in the latter half of 2023.
And if Shiba Inu also witness the launch of SHIB: The Metaverse by the end of the 2023, SHIB’s price could even lose a decimal place by the time 2024 rolls around.
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A New Meme Token with Utility
Despite SHIB’s potential, it may still be some time before it witnesses a major rally, particularly with the launch date of SHIB: The Metaverse remaining unconfirmed.
However, traders have increasingly been looking to new altcoins in recent weeks, with a number of promising presale tokens managing to attract some serious investment as they await their listings and launches.
One of the most exciting examples of these Love Hate Inu, which has seen the presale for its LHINU token raise just over $4.1 million in less than a month.
A decentralized polling platform running on the Ethereum blockchain, Love Hate Inu will offer its users the opportunity to receive crypto-based rewards for casting their votes in a topical range of surveys and polls.
It’s aiming to capture a slice of the growing global online survey market, which is forecast to see its value grow to $5.69 billion by 2027, from $3.2 billion this year.
Encouragingly, it has already attracted more than 35,000 followers on Twitter, indicating that its unique mix of meme token and social media-based polling platform is already proving popular with the cryptocurrency community.
This suggests that Love Hate Inu may attract a large user base once it launches later in the year, while in turn it also indicates plenty of demand for its native LHINU token, which has to be staked by users in order for them to participate in polls.
Accordingly, investors can grab themselves for LHINU by visiting the official Love Hate Inu website, where they can use USDT, ETH or fiat currency to buy the altcoin.
The sale is now in its fifth stage, with one LHINU token costing $0.0000115, although this will rise again to $0.0000125 with the sixth stage (due in ten days).
These regular increases have added a sense of urgency to the presale, and along with Love Hate Inu’s strong fundamentals, they explain why this sale has proven so successful so far.
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