Shiba Inu bulls eye $0.000012 as Shibarium launch edges closer.
Following Shiba Inu’s massive rally above $0.000011, investors are hopeful that SHIB’s price will soon hit $0.000012 as the Shibarium upgrade event edges closer. Shiba Inu finally hit $0.000011 today, which comes two months after its price fell to a low of $0.00000850 due to the collapse of FTX.
The cryptocurrency asset has enjoyed a significant rally since last week following a series of events that occurred within its ecosystem, including an expansion of SHIB’s use as a payment method.
Interestingly, Shiba Inu recorded its major breakthrough yesterday after a 7.81% rally that saw it break the first and second significant resistance levels at $0.00000983 and $0.00001020, respectively.
Despite reclaiming $0.000011, Shiba Inu is yet to hit the price level of $0.000012. At press time, Shiba Inu is changing hands at $0.00001103. A Shibarium Network update will likely pave the way for Shiba Inu’s move above $0.000012.
The upcoming layer-2 network has continued to be a major drive for investors’ appetite in Shiba Inu. Some of the features Shibarium is expected to roll out include lower transaction fees and the ability to burn SHIB tokens via each transaction on the network.
Last month, Shiba Inu’s lead developer Shytoshi Kusama announced that Shibarium’s development teams are finalizing the network’s launch.