- SHIB’s price has dropped 1.85% over the last 24 hours.
- A tweet on Twitter dated the 9th of October hinted at a new SHIB upgrade.
- The second announcement regarding the upgrade caused the price of SHIB to spike.
The price of the popular meme token, (SHIB), has dropped 1.85% over the last 24 hours according to the crypto market tracking website, CoinMarketCap. As such, SHIB is trading at $0.000009132 at press time.
Despite the price drop, SHIB holders may have some exciting news to look forward to which will see the meme token become the top-performing altcoin in the coming months.
The Twitter user, Shytoshi Kusama (@ShytoshiKusama), who is involved in the development of Shibarium, tweeted on the 29th of October this year saying “head down working. Update coming soon and I think you will love it.” As to what this update would be exactly was unclear at the time.
$SHIB dev Today about #Shibarium pic.twitter.com/3Exo1TlUNL
— Lucie (@LucieSHIB) October 9, 2022
Rewind to the 9th of October and the first hint of relating to the Shibarium update was shared. In a tweet made by Lucie, the Twitter user shared a screenshot of a post by Kusama. According to the post, the developer believed it would be great to test out Shibarium using SHIB’s metaverse game.
Daily chart for SHIB/USDT (Source: Trading View)
As seen in the daily chat for SHIB/USDT, the tweet on the 9th of October has little impact on the price of SHIB.
A few weeks after the first tweet, the price of SHIB retraced slightly before entering into a multi-day bullish move that saw its price climb from a low of $0.00001021 on the 25th of October to a high of $0.00001519 4 days later before closing the candle at $0.00001291.
SHIB’s price then consolidated within the channel between $0.00001400 and $0.00001142, until a steep drop to $0.00000874 on the 9th of November.
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