Shibarium, the blockchain network belonging to the Shiba Inu (SHIB) ecosystem, launched its mainnet last week. Aiming to reach more realistic usage areas of the joke-themed altcoin unit, the developers faced many problems after the launch. SHIB price dropped nearly 25% during the period when network glitches continued. However, nowadays, although the rise does not come with the solution of the problems, the sales seem to have come to an end.
Altcoin analyst Ali Martinez talked about the Shiba Inu in a post on his X account. Martinez stated that 2 trillion SHIB tokens have moved to wallets from exchanges in recent days.
#ShibaInu | A staggering 2 trillion $SHIB tokens have been pulled from known #crypto exchange wallets just this past week. pic.twitter.com/MiWMNUp7jY
— Ali (@ali_charts) August 27, 2023
According to the cryptocurrency phenomenon, this move is a big sign that the downtrend may be over.
SHIB Price
The main altcoin of the Shiba Inu ecosystem has gained about 2% in the last 24 hours.
Currently trading at $.829, $SHIB may move to the EMA 200 level of .858 if it closes above the EMA 50 limit of .824 according to the 4-hour chart.
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