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Shiba Inu Eternity Update Awaited

Shiba Inu Eternity Update Awaited

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There may be a Shiba Inu (SHIB) Rally coming soon.

Recent events have sparked widespread interest in the Shiba Inu project and its initial cryptocurrency. On Thursday, company founder and lead programmer Shytoshi Kusama informed the SHIB Army that the company’s development team is working on a combustion mechanism that will have implications for the entire Shiba Inu ecosystem.

SHIB holders can’t be afraid of the future, teased by yet another big update on the community’s official Twitter account.

Shiba Inu “Eternity” Excitement

A lot has happened since Shiba Eternity was released in Australia. All this excitement and eagerness is only added to by the latest statement from the official account tweet.

The Shiba Inu team just announced the worldwide debut date of the Shiba Inu trading card game via the Twitter space event “Shiba Eternity Community Update”.

According to the announcement, Shiba Eternity will be released on 1 October The Shiba Inu community is celebrating the release on “Download Day” while also breaking the Android and iOS app stores.

Because of this, there was a lot of excitement about the coin and the overall ecosystem.

Good news has been added to the ecosystem. As of this writing, the development team is still putting the finishing touches on Shibarium, an upcoming update that is expected to be released around September 30th.

The much-needed scalability

Presumably, this update will provide scalability to the Shiba Inu ecosystem and cut gas costs for everyone, especially on the gaming side.

However, is this enough to accumulate a coin?

Currently, the coin is worth between $0.000000957 and $0.00001230. This shows that the currency is trading in June price ranges, which is a less favorable period for cryptocurrencies.

Chart: TradingView.com

This decline in prices, which followed a gradual rise from June to August, is the result of larger market factors.

A recent rate hike of 0.75 percent and news of worsening annual inflation sent investors and traders feeling scared. The price fell a whopping 25.06 percent from its most recent peak on September 10.

SHIB was seen rising to the occasion

Nevertheless, it has risen to a price range of $0.00001038 on September 21. This Price Range supports the expected relief rally of the brand.

The last drop at $0.00001192 represents resistance. This level is critical as bulls can easily take advantage of any breakouts towards the 78.60 Fib level.

Since the SHIB token is based on Ethereum, its value may be affected by the Ethereum ecosystem. Current market conditions may increase the volatility of the coin, which may lead to a crash.

If the larger financial markets recover from the decline on September 13th, we can expect SHIB to rise with the recovery.

SHIB total market cap at $5.8 billion on the daily chart | Source: TradingView.com

Featured image from Coin Culture, Chart: TradingView.com



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