Investing.com – Lead Developer Shytoshi Kusama has announced that the public beta of Layer 2 solution Shibarium would be launched this week.
This new blockchain has been long awaited by the community, as it should help expand the SHIB ecosystem and provide developers with better opportunities to grow. According to the Twitter account (NYSE:) LucieSHIB, more than 3,000 requests to join the Shibarium have already been received since February 27.
If this is a reason for rejoicing for the community of Shiba Inu fans, the chief developer has however strongly warned against possible scams. He strongly advises against investing in new projects during the beta phase. Even though the beta phase is over, investors should inform themselves thoroughly.
In this context, Shiba Inu developer Kaal Dhairya pointed out that ShibaSwap is the only official decentralized exchange in the Shibarium network. Both the community and other exchanges should always be vigilant so as not to risk falling victim to a scam.
Shiba Inu: technical benchmarks
With a price of $0.00001117, Shiba Inu is currently recording a daily gain of 2.48 percent, while the weekly loss stands at -9.39 percent.
In recent days, the cryptocurrency has repeatedly tested the support of the 61.8 percent Fibo retracement of $0.00001085. As long as this support remains intact at the daily close, expect a rally towards the 50 percent Fibo retracement of $0.00001179. Beyond that, the room for an extension of gains towards the 38.2 percent Fibo retracement of $0.00001272 would increase.
However, if the downside pressure builds and the 61.8% Fibo retracement is sustainably pressed, then the psychological threshold of $0.00001000 and the 78.6% Fibo retracement of $0.00000953 will then be in the line of sight.
By Marco Oehrl