Shiba Inu (SHIB), the second most popular memecoin in the cryptocurrency market, received 2 good news today. These gospels include a launch and an integration that is crucial for adoption. While many investors were expecting a price increase due to the developments, analysts announced their price forecasts for the Shiba Inu.
SHIB expands to more than 170 countries with this partnership
OKSE Crypto Visa Card recently announced that it has listed Shiba Inu on its platform. OKSE has card users from more than 170 countries. From now on, users will have the advantage of using SHIB as a form of payment in more than 60 million businesses, including online stores and E-Commerce.
OKSE Crypto Visa Card is recognized worldwide as one of the easiest and fastest ways to spend crypto. More than 60 million visa stores in over 170 countries are open to OKSE payments. OKSE Crypto Visa Card does not charge any hidden fees on any transaction. It also gives its user the ability to monitor every transaction in the chain using its application. OKSE Card Application can be downloaded from both Apple Store and Google Play Store.
Shytoshi Kusama launches Shibarium
Shiba Inu layer-2 scaling solution, Shibarium, has been on the waiting list of SHIB owners for a long time. Owners expect Shibarium to be key to the growth and adoption of the Shiba Inu ecosystem. In this context, new news has come. Shiba Inu inventor Shytoshi Kusama has launched Shibarium, a long-awaited development in the ecosystem. Now Shiba Inu owners await the release of the layer-2 scaling solution.
However, its proponents say it could act as a bullish trigger for memecoin. In addition to the Shibarium release, the Shiba Inu’s burning app is a key driver of the SHIB price rally. The Shibburn website revealed that the burning rate of the Shiba Inu increased by 300% overnight. Accordingly, more than 213 million Shiba Inu were burned in 14 transactions overnight. A massive increase in burn rate fueled bullish sentiment among owners, but the Shiba Inu price failed to recover.
Will the Shiba Inu price rise?
Moderators of the Shiba Inu community are considering the possibility of burning 111 trillion SHIB in the next year. A burn of this magnitude has the potential to push the SHIB price up, leading to double-digit gains. However, analysts reveal a bearish outlook in the short term. Kelvin Maina, a crypto analyst, expects a bearish move in the Shiba Inu. Maina claims that a drop below the lows of $0.0000116 is highly likely.
A bearish move past the $0.000014 level is possible to push the Shiba Inu higher. A break above $0.000014 will confirm a trend reversal. FXStreet analysts also made a price assessment for its Dogecoin rival. Accordingly, they say the Shiba Inu price is in a tight range and a drop is likely.
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