Will Shibarium’s Liquid Staking Ignite a Shiba Inu Coin Price Rally to $0.00002?
Highlights
- Shiba Inu coin price eyes 50% gains amid liquid staking launch.
- Liquid Staking by K9 will increase SHIB trading volume.
- SHIB burn rate is expected to skyrocket with the Liquid Staking launch.
The Shiba Inu Coin price could be on the verge of a major breakout, with recent trends indicating a bullish reversal that has caught the attention of investors. Adding to the excitement, Shibarium has introduced a liquid staking feature, which is poised to drive significant growth within the Shiba Inu ecosystem. This innovative addition could enhance both trading volume and the token burn rate—two critical factors that could help propel Shiba Inu price closer to the highly anticipated $0.00002 target. As market sentiment builds, could this be the catalyst for Shiba Inu next big rally?
Will Liquid Staking Ignite a Shiba Inu Coin Price Rally?
The long-awaited Shiba Inu Liquid Staking platform is launching on Shibarium today.
Tomorrow at Noon EDT the @K9finance liquid staking platform will be launching on @ShibariumNet!
Liquid staking for $BONE will help $SHIB by
➡️ increasing the total value locked (TVL) on Shibarium
➡️ increasing the transaction volume on ShibariumBoth of these will help the…
— Shib (@Shibtoken) September 17, 2024
Liquid staking is an advanced form of traditional staking. Users are still able to use their crypto assets while still staking them.
According to the official announcement, the liquid staking will be for Bone ShibaSwap (BONE). Still, it will benefit Shiba Inu by increasing the total value locked (TVL) and the transaction volume on the Shibarium network. An increase in these metrics will contribute to increasing the SHIB burn rate and, in turn, Shiba Inu coin price.
Investors Return to Shiba Inu
Shiba Inu has witnessed renewed investor interest amid a weakening bearish trend, setting the meme coin up for a potential rally in the coming days. Data from IntoTheBlock shows the total addresses with a balance increased from June to September, signaling that investors have been taking positions in Shiba Inu, potentially due to the launch of the K9 Finance Liquid Staking platform today.
If the market sentiment around Shiba Inu remains positive, Shiba Inu coin price could catalyze fresh investor interest to surge higher.
The SHIB price has decreased slightly by 0.1% and is trading at $0.00001328. However, technical analysis shows a promising future for the Doge-killer.
SHIB Price Analysis: Bullish Reversal In-Play
Shiba Inu Coin price is currently rangebound between $0.00001462 and $0.00001271, seeking bullish momentum to break free from consolidation. The recent price action has formed a potential double-bottom bullish reversal pattern.
A break above the neckline could propel Shiba Inu price 50% to $0.00002, which coincides with July highs and marks the next zone of resistance after $0.00001462. The increasing investor interest may provide the necessary juice to push the Shiba Inu price higher to $0.00002712, a 103% increase from the current price.
Shiba Inu coin price prediction shows that if it fails to hold above $0.00001271, it may signal market weakness. The Shiba Inu price may turn bearish as it drops to seek further support lower around $0.00001. This could invalidate the current bullish thesis, undermining the importance of the Liquid Staking platform launch.
Frequently Asked Questions (FAQs)
1. What is Liquid Staking, and how does it impact Shiba Inu coin?
2. Why does increased trading volume matter for Shiba Inu?
3. Can the Liquid Staking launch guarantee a price increase?
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