Is SHIB about to breakout 17 times after the new developments?

The Shiba Inu development center (SHIB) has just launched new support tools, including guides for validators, bridges between blockchains on Shibarium, and DeFi integration. Thanks to this upgrade, daily activity on Shibarium has skyrocketed.

The network currently records more than 3.85 million transactions per day, with a total of over 1.42 billion transactions since its launch.

Meanwhile, the price of SHIB is trading within a symmetrical triangle – a technical signal often leading to strong volatility. Technical analysts predict a potential price increase of up to 17 times, bringing SHIB to the 0.00023 dollar range if a breakout occurs.

Shiba Inu Development Center Integrates Additional Infrastructure Tools

The Shiba Inu development team has updated the official documentation portal of the project. Previously scattered resources across various forums and community channels are now integrated into a unified access platform.

This website is built on the Mintlify platform, simplifying the development process within the Shibarium ecosystem. Some new features include detailed guides on how to operate the node validation process and instructions for transferring assets into Shibarium. These tools are designed to streamline the onboarding process for developers building on Shibarium.

In addition, developers can also access the updated library, SDK kits to create decentralized applications, as well as complete integration guides for ShibaSwap versions 1 and 2.

The newly updated document includes important technical information such as Chain ID and RPC endpoint for direct configuration. Notably, this development step also fuels hopes for a strong price surge of SHIB.

Shibarium records over 3.85 million transactions per day

After the upgrade, the performance metrics of Shibarium also increased significantly. According to data from Shibariumscan, the network has surpassed 1.42 billion cumulative transactions.

Source: ShibariumscanHowever, the increase in usage levels has not yet been clearly reflected in the price of SHIB. Currently, the price of SHIB is trading around $0.0000139, down slightly about 0.88% in the past 24 hours.

Nevertheless, the continuous improvement of infrastructure and user interaction has paved the way for the establishment of a sustainable support zone in the long term.

Experts predict SHIB could increase 17 times

The analyst CryptoElites has pointed out a technical setup that could lead to a 17-fold breakout for SHIB. The price chart of Shiba Inu is forming a symmetrical triangle pattern, which is often a sign of strong breakout phases if confirmed by high trading volume.

Currently, SHIB is trading right on the lower trend line acting as support for many weeks.

The technical model also shows the presence of a cup and handle shape located within a triangle – this is a bullish continuation pattern, further reinforcing the strong breakout potential if the resistance level is breached.

SHIB price chart | Source: X## SHIB price forecast: Target 0.00023 dollars

In the latest forecast, SHIB is expected to rise to at least $0.00023 – a resistance level that has previously served as a significant barrier.

CryptoElites analysts point out that any breakout above the downtrend line will play a key role in confirming the uptrend.

If the price of SHIB converges positively with increasing trading volume, the upward momentum could help this top memecoin reach the target price range.

However, if the upward trend line that is acting as support cannot be held, the current bullish pattern may be invalidated and could even lead to a bearish correction.

Currently, the chart shows that the price structure is tightening as the market is waiting for clear confirmation signals.

Network growth can reinforce trends

The Shibarium ecosystem is constantly expanding its utility, serving as fundamental support for the technical movement of SHIB's price.

With tools that simplify the integration process for developers into the ecosystem, Shiba Inu has the potential to drive growth and expansion in existing projects.

As utility and interaction levels increase, the circulation speed and token burn mechanism can play a crucial role in maintaining the bullish structure of SHIB.

Recently, a report indicated that the price of SHIB has increased by 50% compared to the June low of (0,00001004 dollars) and has surpassed several key resistance levels.

Analysts continue to predict that the upward trend will be extended, with the next target being the price range of 0.000025 dollars, reinforcing long-term bullish momentum.

Dinh Dinh