2 February 2024
Shiba Inu marketing lead Lucie has given an insight into the timeline for the upcoming developments of the project, sending the SHIB army into a tizzy. Speaking via X (formerly Twitter), Lucie provided a glimpse into the roadmap after a meeting with the project’s lead, Shytoshi Kusama.
Lucie stated, “After meeting with Shytoshi Kusama, I can’t reveal much, but I can say one thing: The goal is to have everything finished by the end of this year. The whole vision should be completed by 2024/2025. It’s not a promise, but that’s the goal.”
This ambitious timeline suggests a rapid pace of development for the Shiba Inu ecosystem. The marketing lead emphasized the potential impact of these developments on the Shibarium, BONE, and the SHIB token itself, particularly highlighting the role of decentralized applications (dApps) and strategic partnerships.
“With every dapp usage on Shibarium and many significant partnerships in the works, it should have an amazing impact on Shibarium, BONE, while also contributing to burning SHIB,” she said.
Lucie further elaborated on the significance of the DAO, stating, “The Dao will showcase the real power of LEASH and Shiboshis.” Furthermore, the Shiba Inu team appears to be gearing up for another step forward with the SHIB Metaverse, with Lucie teasing, “As for the Shib the Metaverse… well, we will see. One world, one financial state. All hail to the real holders!”
Shiba Inu Price On The Verge Of A Breakout?
The SHIB cryptocurrency is currently exhibiting signs of consolidation within a descending channel pattern, hinting at a potential breakout in the near term. As of the latest data, SHIB trades at $0.00000904 against the US dollar on the Coinbase exchange, with a modest 1.8% decrease in the last 24-hours.
Technical analysis of the SHIB/USD pair in the 4-hour indicates that the price is oscillating within a descending channel, which is typically considered a bearish pattern but can lead to a bullish breakout if the price breaches the upper boundary. The price has touched the larger trend line support derived from the weekly chart, suggesting a strong historical support level.
The Exponential Moving Averages (EMAs) on the 4-hour chart provide key levels to watch. The 200-EMA ($0.00000938), 20-EMA, 50-EMA, and 100-EMA are layered above the current price, with the 200-EMA acting as the most important resistance.
Volume is quite low, which does not highlight significant buying or selling pressure at the moment. The Relative Strength Index (RSI) is hovering around the 49.69 mark, which is just below the neutral 50 level, indicating an equilibrium between buyers and sellers. A move above 50 in the RSI could signal increasing buying momentum, which might assist in a bullish breakout from the channel.
Fibonacci retracement levels from the recent swing high to low show that the 0.236 level at $0.00000878 has been acting as the most crucial support recently, while the 0.382 level at $0.00001050 and the 0.5 level at $0.00001188 are potential upside resistance levels that come into focus when SHIB breaks out of the descending channel.
For SHIB to confirm a bullish breakout, it needs to consistently close above the upper boundary of the descending channel and the 200-EMA. A decisive 4-hour candlestick close above these levels could encourage further buying, potentially leading to a test of the 0.382 Fibonacci level. Moreover, it’s crucial for bulls to maintain the price above the larger trend line support to avoid a bearish turnover that could see SHIB revisiting lower support levels.