Analyst Oscar Ramos predicts Shiba Inu (SHIB) is on the brink of a major price breakout due to key developments and strategic partnerships.
Shiba Inu has lingered around the $0.000013 level for weeks without much effort to surpass and survive beyond the region. The meme coin’s major setback occurred on August 5 when it collapsed to just above $0.00001.
Although SHIB is trading at 0.00001354, marking an over 24% gain from the two-week low, the asset is down significantly by a similar percentage from its 30-day high. Meanwhile, various analysts have pointed to technical data to suggest a promising path ahead for Shiba Inu.
However, Shiba Inu community pundit Oscar Ramos sees beyond technical information to argue for a massive SHIB breakout. In a recent update, Ramos shared his insights on why Shiba Inu could be on the verge of its biggest price breakout yet.
Key Reasons “Biggest” Shiba Inu Breakout is About to Happen
He cited disclosures from Shiba Inu lead developer Shytoshi Kusama on the progress of Shibarium, ShibaSwap, and a new burn portal, all of which are designed to enhance the utility and scarcity of SHIB.
Kusama presented these details at the 2024 Futurist Conference. Among the key revelations was the birth of the Shib Hub super app.
According to Ramos, the introduction of Shib Hub is set to be a game-changer. “Shib Hub is designed to empower users with a range of new features, from DeFi to social engagement, all within the Shiba Inu ecosystem,” Ramos explained.
Notably, this all-in-one platform could attract a broader user base and increase demand for SHIB.
Furthermore, Ramos cited Shiba Inu’s latest collaboration: the partnership with the International Indian Film Academy Awards (IIFA). This alliance is expected to expose the token to a global audience of 800 million viewers, further boosting its visibility and adoption.
The pundit also emphasized the positive impact of macroeconomic factors, such as the recent drop in U.S. inflation to 2.9%. This is hoped to create a favorable environment for the broader crypto market, including SHIB.
With these developments in mind, Ramos predicts that SHIB is poised to overcome recent market challenges and potentially trigger a “mega green candle” that could lead to a significant price breakout.
Essentially, the analyst believes Shiba Inu is uniquely positioned to capture attention and drive substantial gains as the altcoin season approaches.
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