Along with its Layer-2 solution, Shibarium, the Shiba Inu team has unveiled SHIB OS, a platform that eases the transition from Web2 to blockchain for businesses, governments, and individuals. The Shibarium platform, developed in Shiba Inu’s blockchain ecosystem, aims to accelerate Web3 adoption by offering low-cost, high-speed transaction capabilities.
Shibarium: The Solution For Optimized Blockchain Efficiency
Shibarium works as an EVM-compatible network, making it easy to integrate with any existing Ethereum-based apps. The network has gained momentum and currently supports over 2.1 million wallets and processes approximately 890 million transactions. Its architecture prioritizes efficiency, enabling faster crypto transactions and significantly reducing fees.
A significant development within Shibarium is the integration of Fully Homomorphic Encryption (FHE), an advanced cryptographic technology that ensures on-chain privacy. This feature ensures that user data remains encrypted throughout transactions, preventing unauthorized access while maintaining blockchain transparency.
The adoption of FHE represents a shift towards enhanced security in decentralized finance and blockchain applications. It further strengthens Shibarium’s role in the evolution of Web3 privacy solutions.
As previously reported, Shiba Inu’s Shibarium has unveiled an upgraded Swap and Bridge platform on Shib.io. This enhanced platform provides users with a seamless multichain Swap and Bridge experience, integrating seamlessly with Shibarium to improve connectivity.
Shiba Inu (SHIB) Price Action & Analysis
Amid these developments, Shiba Inu has been heavily impacted by the recent downturn in the crypto market. It experienced a 32% drop over the weekend, reaching its lowest price in five months. The decline is attributed to macroeconomic uncertainties and significant selling pressure from retail investors. However, large holders have been accumulating SHIB, indicating a potential shift in momentum, as mentioned in our previous article.
Currently, technical analysis suggests that SHIB may be completing a corrective ABC wave pattern, with the recent decline potentially marking the end of Wave C. Historically, such formations have preceded upward moves, provided that major investors continue to accumulate. The recent dip to around $0.000013 coincides with a key support zone that has previously triggered price reversals.
Source: TradingView
A push above $0.000015 could strengthen bullish sentiment, potentially fueling a short-term rally towards $0.000018. Momentum indicators show early signs of fading selling pressure. The MACD histogram remains in negative territory, but its signal line is beginning to turn upward. A bullish crossover could emerge if SHIB stabilizes above crucial moving averages, signaling a shift in market sentiment.
Despite signs of potential recovery, Shiba Inu remains at risk of further declines if broader market conditions worsen. Failure to hold above $0.000013 could confirm an extended correction, with losses possibly extending towards $0.000012. A more significant breakdown below this level could expose SHIB to further downside, with the $0.000010 level serving as the next major support. The downward trajectory of the MACD and widening histogram bars indicate weak demand, reinforcing the possibility of additional selling pressure.
However, if Shiba Inu’s price breaches $0.000010, the bearish outlook could intensify, with $0.0000095 becoming a critical level to watch. Without renewed buying interest, SHIB may enter a prolonged consolidation period.