4 Reasons Why Shiba Inu (SHIB) Will Remain Bullish Until the End of April

Reddit User Plots Ambitious Plan to Burn 500 Trillion SHIB in 4 Months

Since the beginning of the year, Shiba Inu (SHIB) has consistently increased. 

Many currencies are trading in the green as the cryptocurrency market slowly recovers from a turbulent 2022.  

Shiba Inu (SHIB) is an outstanding example of a token still popular among investors today. 

Despite some pressure last month, Shiba Inu (SHIB) is steadily gaining ground from its 2022 lows.

Shiba Inu’s (SHIB) initiatives to expand utility beyond that of a meme coin contribute to its rise.  

Related Reading: Shiba Inu Holders with Zero Holdings Surge by 147% in the Last 7 Days

Reasons Why Shiba Inu Will Remain Bullish

Some of the reasons why Shiba Inu will continue to experience bullish trends till the end of April are majorly because of its recent developments. 

These include the shibarium launch, the Puppynet testnet, its recent price trends, and various Shiba Inu ecosystem developments,

The Shibarium Launch

Shiba Inu (SHIB) has long been a speculative coin prone to pumping and dumping. 

Shia Inu (SHIB) will, however, considerably increase its capacity to provide ultra-fast transactions at a cheaper cost with the release of the Shibarium update.  

The Shibarium update is also scheduled to burn additional fee tokens and reduce the maximum SHIB coin supply.  

The price of Shiba Inu (SHIB) coins is projected to rise when more is taken from circulation.

The Puppynet Testnet

A testnet version of the highly anticipated layer-2 network called Puppynet was launched on March 11, 2023, and serves as an early version of Shibarium.

Developers can utilize Puppynet, the first publicly available release of Shiba Inu’s Shibarium network, to deploy decentralized applications (dApps) on the network.

Notably, the number of hosted wallets on Puppynet, the beta version of the Shiba Inu Shibarium network, continues to rise.

These expectations have increased investors’ interest in the meme coin.

SHIB Recent Price Trends

Shiba Inu has had a 43% price increase since the beginning of the year, similar to the previous bull run in 2021. 

Shiba Inu’s price has gradually increased, with the token starting the year at $0.0000081. 

However, tokens rallied and hit a high of $0.0000151 on February 4th before suffering fluctuations. 

Shiba Inu is up 43% since the beginning of the year: source @coinmarketcap.com

Although the recent price trend changes have been minimal, it has been mainly on a positive trend, and as a result, Shiba Inu is due to maintaining its bullish trend.

Shiba Inu Ecosystem Developments

In recent weeks, Shiba Inu has recorded several partnerships, one of which is the collaboration with renowned American musician Scott Page. 

Also, on April 13th, 2023, NOWPayments, a well-known cryptocurrency payment platform, partnered with Shibarium. 

This collaboration aims to increase the adoption of NOWPayments’ platform and expand its use within the Shibarium ecosystem.

The Shiba Inu ecosystem is constantly evolving, as the network is now working on ShibaSwap 2.0

The imminent arrival of ShibaSwap 2.0 was hinted at by Shytoshi Kusama, the lead developer of SHIB, in a recent Telegram message.

Although the crypto space is dynamic, all these and more have contributed to Shiba Inu’s recent bullish trend. For these reasons, Shiba Inu’s (SHIB) price is expected to keep rising.

Read Also: Shiba Inu: Shibarium Release Could Be In 2-4 Months, Says Shytoshi

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Share this :