A prominent crypto expert who accurately predicted the conclusion of Bitcoin’s (BTC) bull market in 2021 thinks that Shiba Inu (SHIB) may be preparing for positive price movement in the coming weeks.
Pentoshi, a fictitious expert, informs his 673,400 Twitter followers that SHIB seems strong after surpassing its barrier at $0.000013.
If it can break above here, it’s empty space. However, they are introducing Shibarium and its own ecosystem this month. Anticipating a rise in interest in the coming weeks.”
Shibarium is the much-awaited layer-2 enhancement for Shiba Inu based on Ethereum (ETH), comparable to Polygon (MATIC). The developers have been tight-lipped about the project’s release date, but the beta version will be available shortly, they say.
SHIB is trading at $0.000015 at the time of writing, an increase of over 10% in the last 24 hours. Pentoshi is also monitoring the interoperability network Polkadot (DOT). According to the cryptocurrency researcher, DOT is expected to reach its immediate resistance level of $7.88.
At the time of writing, $6.85 is being paid for DOT. As for Bitcoin, Pentoshi says that BTC is beginning to exhibit indications of tiredness after failing for a second time to overcome the resistance of around $23,900.
As the author puts it, “BTC gave me a caution sign becase we had a prolonged consolidation of about two weeks and then weren’t able to regain the momentum following breakout.”