SHIBA SWAP 2.0 & SHIBARIUM UPDATE: BITCOIN & CRYPTO MARKET RANT

What’s Going on with Shiba Inu (SHIB) and ShibaSwap 2.0?

Shiba Inu (SHIB) has been making waves in the cryptocurrency market, and there are several exciting developments happening with the project. One of the most anticipated updates is the release of ShibaSwap 2.0. Initially, there were some delays in launching the upgraded decentralized exchange, which left many investors wondering why. However, the team behind Shiba Inu has shed some light on the situation.

According to Lucy, a member of the Shiba Inu team, ShibaSwap 2.0 is not just a regular decentralized exchange. It is a complete portal experience that involves intricate development and additional features. This explains why it has taken longer to release compared to other decentralized exchanges. Lucy also mentioned that ShibaSwap 2.0 will introduce new features, including the Shiba Name Service. This suggests that there may be more incentives and opportunities for Shiba Inu holders in the future.

Another exciting development is the increasing demand for Shiba Inu’s RPC full nodes. RPC stands for Remote Procedure Call, and it allows users to interact with the Shiba Inu blockchain. Shiba Inu has seen a staggering 66 million requests processed since its public launch, with the highest number of requests recorded recently. This surge in demand indicates that more projects are starting to utilize the Shiba Inu blockchain, which is a positive sign for the ecosystem’s growth.

Currently, the top use cases for Shiba Inu are exchanges, liquidity providers, NFT marketplaces, and bots. Exchanges play a crucial role in facilitating the buying and selling of SHIB tokens, while liquidity providers ensure there is enough liquidity in the market. NFT marketplaces have gained significant popularity in recent months, and Shiba Inu’s integration with these platforms opens up new opportunities for token holders. Additionally, the use of bots in trading has become increasingly common, and Shiba Inu aims to provide a seamless experience for bot users.

Furthermore, Shiba Inu recently announced its integration with Atomic, a top wallet provider. This integration allows users to access their Shiba Inu tokens directly from the Atomic wallet, making it more convenient for investors to manage their holdings. This integration may also provide a bridging mechanism, eliminating the need for users to transfer tokens from Ethereum to Shiba Inu manually. This is particularly beneficial as Ethereum gas fees can be high, and a direct integration with a wallet provider simplifies the process for users.

Shiba Inu’s Price and Market Outlook

As of now, Shiba Inu is trading at around 69 cents, with a strong support level at 70 cents. The token has tested this support area multiple times since November 2022. For investors looking to buy SHIB, it is advisable to wait for a dip to the support level rather than chasing green candles. Buying at support levels reduces the risk of becoming a bag holder when the price reverses.

If the support level at 70 cents is breached, the next areas of support to watch are 60 cents and 50 cents. These levels may provide opportunities for buying, depending on market conditions and investor sentiment. It is important to note that the ultimate goal for many Shiba Inu investors is to accumulate 10,000 SHIB tokens before the upcoming halving event.

It is worth mentioning that the overall cryptocurrency market is showing signs of greed, with the fear and greed index currently at 72%. However, despite the green charts and positive news, such as the potential introduction of a spot ETF for Bitcoin, volume has not returned to the market. This indicates that there may be a lack of new money entering the market, which could lead to a potential pullback in the future.

Based on historical patterns, Bitcoin tends to experience a rise followed by a dump. If history repeats itself, the current bump in Bitcoin’s price may be followed by a downward pressure, which could impact the entire cryptocurrency market. It is crucial for investors to be aware of this possibility and not get carried away by short-term gains. The market is still five months away from the halving event, which could bring significant changes to the landscape.

FAQs

1. What is ShibaSwap 2.0?

ShibaSwap 2.0 is an upgraded version of the decentralized exchange for Shiba Inu (SHIB) tokens. It offers a complete portal experience with additional features and improvements compared to the previous version. The release of ShibaSwap 2.0 has been delayed due to the intricate development process involved in implementing these new features.

2. What are RPC full nodes?

RPC full nodes allow users to interact with the Shiba Inu blockchain. RPC stands for Remote Procedure Call, and it enables users to send requests to the blockchain and receive responses. These nodes play a crucial role in processing transactions and maintaining the integrity of the Shiba Inu network.

3. What are the top use cases for Shiba Inu?

The top use cases for Shiba Inu include exchanges, liquidity providers, NFT marketplaces, and bots. Exchanges facilitate the buying and selling of SHIB tokens, while liquidity providers ensure there is enough liquidity in the market. NFT marketplaces allow users to trade and collect non-fungible tokens, and bots automate trading strategies.

4. What is the integration with Atomic wallet?

Shiba Inu recently integrated with Atomic, a popular wallet provider. This integration allows users to access their Shiba Inu tokens directly from the Atomic wallet, making it more convenient to manage their holdings. It may also provide a bridging mechanism, simplifying the process of transferring tokens between Ethereum and Shiba Inu.

5. What is the price outlook for Shiba Inu?

Shiba Inu is currently trading at around 69 cents, with a strong support level at 70 cents. If the support level holds, it may present a buying opportunity for investors. However, if the support level is breached, the next areas of support to watch are 60 cents and 50 cents. It is important to consider market conditions and investor sentiment when making investment decisions.