Shiba Inu Price Prediction as Shibarium Public Beta Launch Approaches – Is a SHIB Pump Coming?

cryptonews.com:

The Shiba Inu price has fallen by 1.5% in the past 24 hours, dragged down by a cryptocurrency market that has reacted negatively to the expectation of another Fed rate hike.

At $0.00001092, it has declined by 9% in the past week and by 24% in the last 30 days, although it still remains up by 35% since the beginning of the year.

Despite today's fall, there's now a very strong chance that SHIB may rally later in the week. 

This is due to the announcement that Shibarium, the layer-two network for Shiba Inu, is to launch its public beta this week, helping to inaugurate an era in which the meme token begins to offer some genuine utility.

SHIB's indicators continue to suggest that the meme token isn't too far from reaching a bottom, at which point it may enjoy a healthy rebound.

The token's relative strength index (purple) has almost reached 30, at which point it will 'officially' become oversold, signaling an impending rally.

Likewise, SHIB's 30-day moving average (red) has begun falling steeply and is probably a week or so away from falling under its 200-day average (blue).

At this point, traders may expect SHIB to begin rising again, something which will be helped by the aforementioned Shibarium news.

The launch of Shibarium will make SHIB transactions faster and cheaper while also doing the same for the modest number of apps, including ShibaSwap, that litter the Shiba Inu ecosystem.

As such, the attractiveness of this ecosystem for DeFi and other parts of the crypto economy will increase, bringing more users and adopters to SHIB.

In turn, this will increase demand for SHIB, while the launch of Shibarium will also see an increase in SHIB burning via the destruction of transaction fees.

This will all come at just the right time for