The price of Shiba Inu could rise similar to XRP after Thursday according to CoinEdition

The price of Shiba Inu could rise similar to XRP after Thursday
  • SHIB’s developer team has announced an important upgrade to their game.
  • The price of the meme token is expected to increase similarly to the increase.
  • SHIB price is looking to break above the daily 9 EMA.

The popular meme token, (SHIB), launched its blockchain-based card game in Australia on September 17 of this year. Since then, the SHIB community has been patiently waiting for the updates. As a result, SHIB’s development team has announced an important update that shows that the game’s development team will focus on building the game’s community and ecosystem.

This update is the result of feedback received from some players and focuses on improving the user experience in the game.

Similar to the surge seen in the price of XRP, it is speculated that SHIB could have a bull run in the coming days. One event that could potentially trigger the SHIB rally will be news shared during the SHIB Community Update Space Event on Thursday.

At the time of writing, the SHIB price is trading at $0.0000108, after a slight increase of 0.30% in the past 24 hours. Even so, the SHIB price is down 7.42% from last week, according to crypto market tracking website, CoinMarketCap.

The meme token ranks as the 14th largest project in the crypto space when it comes to market capitalization and has a market cap of around $5.93 billion. This ranks it below Polygon (MATIC) at number 13 and above Tron (TRX) at number 15.

Daily Chart for SHIB/USDT (Source: CoinMarketCap)

SHIB price is trying to challenge the 9 EMA which is below the 20 EMA. However, sentiment on SHIB’s daily chart is mostly bearish as the 9 EMA is below the 20 EMA, the RSI is below the RSI SMA and the trading volume for the SHIB is mostly selling.

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

The post Shiba Inu Price Could Rally Similar to XRP After Thursday appeared first on Coin Edition.

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