On September 17, Australia was the first to release blockchain-based implementations of Shiba Eternity. Shiba Inu rallied almost 7% between September 17-18 after the market selloff which began on September 13.
The rally didn’t significantly change market sentiment during this period. New information about the game’s release, though, may add some hype.
A recent Shib Rumours tweet stated that the October 1 release date has been set. According to the Shiba Inu Twitter account, however, it appears that worldwide release of the game is set for October 1.
SHIB has a current trading range of $0.00001073 – 0.00001154. Could the meme coin see a resurgence after the game’s release?
Shiba Inu: Growing Speed
After the latest sell-off on September 18, an uptrend has been noted and has been very consistent up to the time of writing. Given that this occurred only a day after the Australia release, it’s likely that long-term token holders witnessed the price increase and sold off their holdings.
The memecoin experienced a pullback during this time and plunged 8.5% instantly. Currently, the recent price movements have created a head and shoulders pattern before to today’s breakout. The price increased 2.9% in this breakout.
Given the current state of Shiba Eternity, this price movement can be regarded as a sign of increased anticipation for the game’s October 6 release. The hype train also includes ETH whales.
WhaleStats reports that the top 1000 Ethereum whales are worth more than $147.5million. WhaleStats also considered Shiba Iu the token having the highest dollar value.
There are some things future Shiba Iu investors/traders and Shiba players need to be aware.
Another is the fact that price increases are often followed by severe market corrections, as we saw on September 18, following the rally of September 17.
SHIB currently trades at $48.Up 2.5 percent on the previous seven days to $0.00001137 according to data from Coingecko, Saturday
We will be able to see whether Shiba Inu’s value will rise or fall as October 6 nears.
Source: TradingView.com| Source: TradingView.com Featured Image from TradingView.com, Chart: VOI