- The Shibarium Layer-2 network has processed over 320 million transactions.
- Analyst Ali Martinez suggests it’s a good time to buy Shiba Inu, comparing current conditions to previous accumulation periods in 2022.
- A potential buy signal indicates a 28% jump in Shiba Inu’s price to reach $0.000011 resistance.
The Shibarium Layer-2 network has facilitated over 320 million total transactions while aiming to substantially lower Ethereum-imposed fees, limiting adoption.
The mounting developer imprint comes as SHIB prices exhibit early signs of bottoming out following an 85% crash since 2022’s heights. The token has lifted 11% off recent swing lows as proactive platform building contrasts with inactive dog peers reliant almost solely on Elon Musk tweets for stimulation.
Analyst suggests its time to buy Shiba Inu
Noted crypto chartist Ali Martinez suggests current conditions mirror ripe accumulation periods in October and July of 2022 before epic rallies unfolded. Using a technical tool renowned for spotting trend changes, Martinez spies the early makings of Shiba Inu bottoming out.
If history repeats, the developing buy signal points to a 28% Shiba Inu jump from here to reclaim $0.000011 resistance. More optimistic projections envision that level giving way to the year’s highs toward $0.000018 should buyers overwhelm the stubborn seller defense.
Of course, previous false breakouts and lower highs make analysts leery of overeager long exposure without further validation that upside momentum can sustain. Bitcoin chart dominance also caps the meme token’s autonomous price potential if macro headwinds resurge.
But for long-suffering SHIB loyalists telegraphing progress, however modest, there exists cause for muted optimism. Growth begets growth across crypto, and months of painful consolidation could yet give way to a renewed parabolic ascent ahead of last year’s devastating fall from all-time highs.
