Crypto News- As we approach the end of the third quarter, many alternative cryptocurrencies are making strong efforts to close out September on a positive note, and Shiba Inu (SHIB) is not falling behind in its bullish pursuits.
Shiba Inu Gains Crucial Support, While Shibarium Prepares for a Milestone
As of the latest update, this meme coin has surged to $0.000007399, marking a significant 2.33% increase, which is one of the more notable moves we’ve witnessed this week.
Notably, SHIB is currently trading above a critical support level at $0.000007, a level that many market observers doubted it could maintain during recent bearish consolidations. The impressive resilience shown by SHIB is further reinforced by a more than 3% surge in trading volume, indicating a growing influx of new traders into the ecosystem.
The recent performance of SHIB is closely linked to the unique sentiment surrounding Shibarium, its Ethereum-based Layer-2 scaling solution. The development of Shibarium’s block production is progressing smoothly, and the community is eagerly awaiting the achievement of a significant milestone – reaching a total block production of 900,000. Although Shibarium faces competition, developers maintain an optimistic outlook, believing that ongoing innovations and strategic partnerships will give it a distinct advantage over some of its larger competitors in the coming months.
With this widespread optimism surrounding Shibarium, SHIB aims to reclaim its position among the most highly capitalized cryptocurrencies in the foreseeable future.
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