Shiba Inu Price Prediction as $300 Million Trading Volume Comes In – Is It Time to Buy?

cryptonews.com:

The world’s second most popular meme coin, Shiba Inu is slowly approaching solid support around $0.00001210. Bulls are ready for another comeback, this time backed by the launch of Shibarium’s beta launch. Shiba Inu price is in the red because of a bearish wave that has been traversing the crypto market since the previous weekend.

Investors are concerned about increasing regulatory pressure from the United States. Moreover, Hong Kong, in its quest to become a global crypto hub has proposed a new set of guidelines to oversee the operations of crypto trading companies.

Experts believe the next crypto bull market will depend on how regulators approach the crypto market in the wake of the FTX collapse – still fresh in investors’ minds, especially those who were directly affected. Many crypto projects and companies suffered significant liquidity crunches that are likely to continue ailing the market in 2023.

However, selected tokens like SHIB are looking forward to a busy year bolstered by the launch of Shibarium, a layer 2 blockchain designed to revolutionize the Shiba Inu ecosystem. The development team recently confirmed the protocol’s beta launch is scheduled for early March, with the official launch expected in May 2023.

The beta launch is, however, still significant because over 1 million Shiba holders will buy BONE, one of the tokens within the ecosystem, for very low fees and burn SHIB with every transaction. BONE would be a common factor in the SHIB ecosystem.

Shiba Inu hopes to establish itself as a strong ecosystem supporting the crypto industry with unbeatable solutions in decentralized finance. Shibarium will boost SHIB’s standing as a transaction-oriented protocol.

Investors are looking forward to a bullish Shiba Inu