Shibarium Update Could Help SHIB Become the Best Performing Altcoin

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• SHIB’s price has dropped 1.85% over the last 24 hours.
• A tweet on Twitter dated the 9th of October hinted at a new SHIB upgrade.
• The second announcement regarding the upgrade caused the price of SHIB to spike.

The price of the popular meme token, Shiba Inu (SHIB), has dropped 1.85% over the last 24 hours according to the crypto market tracking website, CoinMarketCap. As such, SHIB is trading at $0.000009132 at press time.

Despite the price drop, SHIB holders may have some exciting news to look forward to which will see the meme token become the top-performing altcoin in the coming months.

The Twitter user, Shytoshi Kusama (@ShytoshiKusama), who is involved in the development of Shibarium, tweeted on the 29th of October this year saying “head down working. Update coming soon and I think you will love it.” As to what this update would be exactly was unclear at the time.

$SHIB dev Today about #Shibarium pic.twitter.com/3Exo1TlUNL

— Lucie  (@LucieSHIB) October 9, 2022

Rewind to the 9th of October and the first hint of relating to the Shibarium update was shared. In a tweet made by Lucie, the Twitter user shared a screenshot of a post by Kusama. According to the post, the developer believed it would be great to test out Shibarium using SHIB’s metaverse game.

Daily chart for SHIB/USDT (Source: Trading View)

As seen in the daily chat for SHIB/USDT, the tweet on the 9th of October has little impact on the price of SHIB.

A few weeks after the first tweet, the price of SHIB retraced slightly before entering into a multi-day bullish move that saw its price climb from a low of $0.00001021 on the 25th of October to a high of $0.00001519 4 days later before closing the candle at $0.00001291.

SHIB’s price then consolidated within the channel between $0.00001400 and $0.00001142, until a steep drop to $0.00000874 on the 9th of November.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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