Shiba Inu Prices Drop After Shibarium Layer 2 Launch, Investors Eyeing Resistance Levels

24. Januar 2023

• Shiba Inu prices dropped 11% as investors preferred to take profits instead of embracing the hype that fueled a 20% surge the day before.
• This was due to the launch of the beta version of the Shibarium Layer 2 protocol, a Layer 2 network for the SHIB ecosystem.
• Investors are now looking to break the resistance at $0.000012 and $0.000014 to achieve a sustained recovery.

The Shiba Inu cryptocurrency saw a significant price drop during the Asian trading hours on Thursday, January 19th, 2021. This was in contrast to the previous day where the meme coin experienced a surge of over 20%, but investors appear to have preferred taking profits instead. This shift in sentiment saw SHIB prices drop by 11%.

The cause of this price change was the news of the launch of the beta version of Shibarium, a Layer 2 network for the SHIB ecosystem. The development team behind the project announced the upcoming launch through a statement on January 15th, encouraging the SHIB Army to remain patient as the protocol was being built. The blog post also outlined a few key concepts such as scalability and interoperability that the Shibarium Layer 2 protocol would offer to the SHIB ecosystem.

The introduction of the Shibarium Layer 2 protocol has seen investors look to the resistance levels of $0.000012 and $0.000014 to achieve a sustained recovery. If these resistance levels are broken, the Shiba Inu cryptocurrency is expected to experience prolonged upward trajectory throughout 2023. This could be fueled by the features that the Shibarium Layer 2 protocol offers, such as scalability and improved user experience.

Overall, the Shiba Inu cryptocurrency experienced a significant price drop following news of the launch of the Shibarium Layer 2 protocol. However, investors are now looking to break the resistance at $0.000012 and $0.000014 to achieve a sustained recovery and propel the SHIB prices to new heights.

#News