- Shiba Eternity Web3 launches this week, requiring LEASH staking for elite access on Shibarium.
- SHIB price consolidates between $0.00001600 support and $0.00002871 resistance, potential breakout targets $0.00004000-$0.00005000.
- Current RSI at 44.97 and MACD below the signal line suggest potential short-term bearish movement for SHIB.
The Shiba Inu ecosystem is on the brink of a significant transformation with the anticipated launch of the Shiba Eternity Web3 version. LucieSHIB shared an X post that highlighted the upcoming debut this week. According to Lucie, this strategic release is expected to reshape the collectible card game genre on the Shibarium network.
Notably, this innovative game will require players to stake LEASH tokens, giving them exclusive access and aligning them with the ShibArmy elite. After this initial beta, the game will also be accessible to holders of Shiboshi, Sheboshi, or Shiba Eternity Lore NFTs.
In addition to this development, Shiba Inu’s price performance presents intriguing opportunities. At press time, SHIB was trading at $0.0000167 with a 24-hour trading volume of $202,780,739, though it has recently dipped by 2.57%. Analyzing the SHIB/USDT chart reveals that the cryptocurrency is consolidating between critical support and resistance levels.
As per analyst SHIB KNIGHT, the current support level stands at $0.00001600, which has shown resilience by holding up as a robust buying zone. Conversely, the immediate resistance is positioned at $0.00002871. This resistance level has consistently prevented SHIB from advancing, highlighting its importance in the price structure. If SHIB can break through this resistance, it may target a new price level of around $0.00004000, based on previous highs and the current consolidation range.
SHIB, UNI Show Potential for Gains, While DOGE Pose High Risk in Bullish MarketMoreover, a successful breakout could see SHIB reaching as high as $0.00005000, aligning with both psychological thresholds and historical resistance. However, if bears regain control, SHIB might retrace to its previous support levels around $0.00003000, potentially undermining recent gains and signaling a period of consolidation.
SHIB/USD 1-day price chart, Source: TradingView
The daily RSI is currently at 44, suggesting that SHIB is trading below the overbought threshold of 70. This positioning indicates there might still be potential for some downward movement in the near term. Additionally, the MACD on the 24-hour chart is trading below the signal line, which could signal a bearish trend in the short run.
