Shiba Inu is the only cryptocurrency in the top 30 to have gained more than 10% today. The SHIB/USD price of $0.000010 has increased by 25%
The fact that the governance token BONE is up for a vote throughout the community explains this protest. The question is whether BONE farming would cease at 230 million coins or if the maximum would be established at 270 million, with an additional 20 million being utilized for shibarium research.
Currently, it appears that the majority of the community prefers the first option. We can read the following in a blog post:
“One of the biggest benefits of our awesome ecosystem is the passive farming and returns achieved using Woofable $BONE using the ShibaSwap platform. We have our work cut out for us and are ready to deliver new and better revenue opportunities for ShibaSwap, to make everything even better, from automation to great rewards. This is the first step of changes that will impact our work processes to make the Shibarium network shine.”
Meanwhile, SHIB Project Manager Shytoshi Kusama stated that the current bear market provides an excellent chance to either enhance SHIB stock by purchasing it or burn even more tokens. He also thanked the community for their ongoing support:
“I know the market is challenging, so it’s even more incredible to see #ShibArmyStrong occurring.”
Shiba Inu: technical course benchmarks
The Shiba Inu was able to break away from its new cycle low, which was at $0.00000715, and begin a rebound. On the daily chart, a positive divergence occurred as price made a new lower low and the RSI recorded a lower high.
The resistance at the 23.6 percent fibo retracement of $0.00000885 has already been broken, and the next level appears to be being challenged. This is at the 38.2% fibo retracement level of $0.00000990. The psychological threshold of $0.000010 reinforces this level.
If this zone is breached at the daily close, the bullish trend may continue in the days ahead.