At ShibaSwap, a Decentralized Exchange (DEX) three new pairs, ETH-USDT, LEASH-BONE, and SHIB-BONE are added. This addition took place right after the launching of this much-awaited platform on July 6th by Shiba Inu developers. From July 6th Shiba Inu lost almost all of its gains and now trading between two crucial levels, but the bulls came to rescue it.
ShibaSwap interest in the Shiba token can be seen as it rescued 1.2 billion dollars in TVL, but the addition of these new tokens will just attract more capital to the platform and will add to the value of its fundamentals. But ShibaSwap didn’t trigger a bullish move, for Shiba’s price its own hype on social media is responsible.
We know that most Decentralized Finance (DeFi) projects are being exploited and hacked, ShibaSwap attracts a massive inflow and interest because of the audit it tweeted on its official Twitter account and being a meme coin. The Audit will also explain $1.2 billion in total value locked and add trust to the launch.
After considering the progress of ShibaSwap and bouncing off the $0.00000700 support, one could think of recent attempts as fruitful. An upswing from $0.00000803 to $0.00000954 is also expected which is a 20% advance. The upswing narrative looks quite plausible, which is based on the assumption that Shiba Inu’s price will slice through $0.00000811.
But the breakdown of the $0.00000625 demand barrier will refute the bullish scene and with the happening of this, the token could retest the range low at $0.0000051.
Will Shiba Regain its Value?
There are many factors that influence the predictions about the rise of the Shiba Inu coin, we are going to discuss it in a while, stay tuned with us.
The event of upcoming July 20th, the CoinBase listing of Shiba Inu, the addition of three pairs on ShibaSwap, and Musk’s commentary and concern for the coin may be seen as positive signs for rising in the price of Shiba coin. We will try to comment on these a bit below.
The waning interest of Elon Musk in bitcoin has resulted in a concern for the sibling of dogecoin killer, i.e. Dogecoin, but Musk has also announced that he will name Shiba Inu dog as FLOKI which means the Shiba is also on his radar.
The other thing which is very much important for Shiba’s popularity is the ShibaSwap platform, which added three new pairs namely ETU-USDT, LEASH-BONE, and SHIB-BONE per FXStreet.
ShibaSwap also tweeted a full list of audits which will explain $1.2 billion dollars in TLV. And it will also boost the trust level of Investors and consequently Shiba’s popularity and its price.
After many years later the launching of dogecoin was listed on CoinBase on June 3 and Shiba is also on its track in this race. Shiba Inu’s current price is $0.000007233 according to the Coin Market Cap. It also sees a 20% gain after shibaSwap listed three pairs.
On July 20 there is a virtual party for investors to talk about the ShibaSwap exchange and a new sculpture of Shiba according to Shytoshi Kusama, who is a Shiba coin cryptocurrency influencer.
All these things may lead to the popularity of Shiba Inu and boost its price.
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