{"id":22984,"date":"2023-08-18T14:38:51","date_gmt":"2023-08-18T14:38:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/shiba-inu-shib-price-outlook-after-shibarium-setback\/"},"modified":"2023-08-18T14:38:51","modified_gmt":"2023-08-18T14:38:51","slug":"shiba-inu-shib-price-outlook-after-shibarium-setback","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/shiba-inu-shib-price-outlook-after-shibarium-setback\/","title":{"rendered":"Shiba Inu (SHIB) price outlook after Shibarium setback"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682881079326-862e2f74-66ea-4541-8a2b-28e36bf493b9-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682881079326-862e2f74-66ea-4541-8a2b-28e36bf493b9-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682881079326-862e2f74-66ea-4541-8a2b-28e36bf493b9-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682881079326-862e2f74-66ea-4541-8a2b-28e36bf493b9-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Shiba Inu (SHIB) traded to lows of $0.0000072 before bouncing to $0.0000087.<\/li>\n<li dir=\"ltr\">Declines for SHIB came amid wider crypto sell-off as Bitcoin fell to lows of $25,600.<\/li>\n<li dir=\"ltr\">SHIB price could recover to the psychological $0.00001 or see fresh declines to major support levels.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/shiba-inu\/\">Shiba Inu<\/a>\u2019s native token SHIB has plunged to July lows, trading to lows of $0.000000726 after a sharp 20% drop. SHIB price was down over 30% in the past week as of 8:30 am ET on Friday morning.<\/p>\n<p dir=\"ltr\">The token\u2019s sharp decline follows a broader market sell-off that also saw <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-on-knifes-edge-as-price-falls-below-28k\/\">Bitcoin flash crash<\/a> to $25,600 and Ethereum to $1,570. However, for Shiba Inu, the dump had another catalyst.<\/p>\n<p dir=\"ltr\">Sell-off came at a time the SHIB army \u2013 a passionate community of SHIB holders \u2013 was looking to navigate a major setback related to the cryptocurrency\u2019s layer-2 network Shibarium. Meanwhile, the data <a href=\"https:\/\/twitter.com\/shibburn\/status\/1692521781804892312\" rel=\"noopener noreferrer\" target=\"_blank\">shows<\/a> a total of over 97 million SHIB have been burnt in the past 24 hours.\u00a0<\/p>\n<h2 dir=\"ltr\">Shibarium hit snag shortly after launch<\/h2>\n<p dir=\"ltr\">Shibarium, a fork of Polygon, launched to much hype on Wednesday, with the community celebrating a key milestone as the layer-2 network brought new functionality set to transform the Shiba Inu ecosystem.<\/p>\n<p dir=\"ltr\">But that enthusiasm hit the rocks shortly after, with the L2 going offline amid what the team says was an unprecedented traffic. The <a href=\"https:\/\/blog.shib.io\/shibarium-update\/\" rel=\"noopener noreferrer\" target=\"_blank\">latest update<\/a> from the team has nonetheless provided optimism for a swift reboot, more so after it was revealed Shibarium was getting help from major players within the ecosystem.<\/p>\n<p dir=\"ltr\">Developer Kaal Dhairya has also assured users that the $1.7 million in user funds locked in the ETH bridge as the blockchain went into \u201cfail safe\u201d mode were \u201csafu.\u201d Although its unclear when the Shiba Inu L2 platform reboots, the community\u2019s response to today\u2019s update has seen SHIB price turn just green as seen on the 24-hour time frame.<\/p>\n<h2 dir=\"ltr\">SHIB price outlook after Shibarium setback<\/h2>\n<p dir=\"ltr\">The 4-hour chart below shows SHIB has bounced from lows of $0.00000726 to intraday highs of $0.0000087.\u00a0<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/07\/18\/1692364594159-304af432-bb81-4519-b25e-c97e5a148dc2.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"267\"\/><span class=\"fr-inner\">Shiba Inu price on 4-hour chart. Source:\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/z2fPES8u\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">This area however represents a previous resistance zone, which suggests the SHIB army might have to dig in push further to bounce to the psychologically important $0.00001 level.\u00a0<\/p>\n<\/div>\n<p dir=\"ltr\">Otherwise, more downside will follow as the 4-hour RSI remains below 50 to indicate strength still lies with the bears. In this case, the key areas to watch on the downside are $0.000008 and $0.0000075.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/shiba-inu-price-outlook-shib-army-digs-in-despite-shibarium-setback\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Shiba Inu (SHIB) traded to lows of $0.0000072 before bouncing to $0.0000087. Declines for SHIB came amid wider crypto sell-off as Bitcoin fell to lows of $25,600. SHIB price could recover to the psychological $0.00001 or see fresh declines to major support levels. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22984"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22984"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22985"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}