Shiba Inu Eternity Update Awaited

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A Shiba Inu (SHIB) gathering could soon take place.

Recent events have sparked widespread interest in the Shiba Inu project and its native cryptocurrency. On Thursday, the company’s founder and chief programmer, Shytoshi Kusama, informed the SHIB Army that the company’s development team is working on an engraving mechanism that will have implications for the entire Shiba Inu ecosystem. .

SHIB holders can’t help but be giddy about what’s to come, with the community’s official Twitter account teasing another major update.

Shiba Inu ‘Eternity’ Excitement

A lot has happened since the Australian release of Shiba Eternity. All of this excitement and eagerness is only heightened by the latest statement made by the official account’s tweet.

The Shiba Inu Team has just announced via the “Shiba Eternity Community Update” Twitter space event the official worldwide launch date for the Shiba Inu Trading Card Game.

According to the announcement, Shiba Eternity will launch on October 1st. The Shiba Inu community will be celebrating the release as “Download Day” while simultaneously breaking the Android and iOS App Stores.

There was therefore a lot of excitement for the coin and the overall ecosystem.

There is more good news for the ecosystem. As of this writing, the development team is still putting the finishing touches on Shibarium, the next update which is set to debut on or around September 30th.

This essential scalability

Supposedly, this upgrade will provide scalability to the Shiba Inu ecosystem and reduce gas expenses for everyone, especially on the gaming side.

Will that be enough to get the coin to rally though?

Currently, the value of the coin is between $0.000000957 and $0.00001230. This indicates that the currency is trading within its June price range, which is a less favorable time for cryptocurrencies.

Chart: TradingView.com

This price drop, which followed a gradual rise from June to August, is the result of larger market factors.

The recent 0.75% increase in interest rates and news of worsening year-on-year inflation have worried investors and traders alike. The price is down 25.06% from its last peak on September 10.

SHIB seen at the height of the occasion

Nonetheless, it moved to the price range of $0.00001038 from its trough on September 21. This price range will support the token’s expected relief rally.

The last dip at $0.00001192 represents resistance. This level is critical as the bulls can easily exploit any breakthrough towards the 78.60 Fib level.

Since the SHIB token is based on Ethereum, its value may be affected by the Ethereum ecosystem. Current market conditions can amplify the volatility of the coin, which can lead to a crash.

If major financial markets rebound from the September 13th drop, we can expect SHIB to ride the wave of recovery.

SHIB total market cap at $5.8 billion on the daily chart | Source: TradingView.com

Featured image from Coin Culture, Chart: TradingView.com

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