Shiba Inu Fanbase Awaiting Eternal Download Event

Shiba Eternity’s blockchain implementation was originally published in Australia on September 17. Shiba Inu followed a larger market sell-off that began on Sept. 13, gaining nearly 7 percent from Sept. 17-18.

During this period, the rally did not significantly alter sentiment. However, new information about the game’s release could add some hype.

According to a recent tweet by Shib Rumours, the game’s release date is set for October 1. However, a recent post on the official Shiba Inu Twitter account suggests that the game’s global launch is on October 6.

SHIB is currently trading in a range of $0.00001073 – 0.00001154. Can meme coins recover after the game is released?

Shiba Inu: Increased speed

After the most recent sell-off on September 18, an uptrend has been noted and has been very consistent at the time of writing. Given that this only happened one day after the Australian launch, it is likely that long-term token holders saw the price rise and dumped their holdings.

During this period, memecoin saw a pullback and immediately plunged 8.5%. Currently, the recent price action has formed a head and shoulders pattern ahead of today’s breakout. During this breakout, the price rose 2.9%

Given the current state of Shiba Eternity, this price change can be seen as a sign of increased expectations for the game’s October 6 release. ETH whales also contributed to the hype.

According to WhaleStats, the top 1,000 Ethereum whales have more than $147.5 million. WhaleStats also sees Shiba Inu as the token with the highest dollar value position.

Keep an eye on the market

Therefore, there are a few things that future Shiba Inu players and investors/traders should be aware of.

One of them is that there are often severe market corrections following price increases, similar to what we experienced on September 18 after the September 17 rally.

As of this writing, SHIB The transaction price is $It is up 2.5% over the past seven days at $0.00001137, according to Coingecko data on Saturday.

As October 6 approaches, we’ll have a better idea of ​​whether the Shiba Inu appreciates or depreciates further.

SHIB total market cap at $6.29 billion on the daily chart | Source: TradingView.com

Featured image from VOI, Chart: TradingView.com

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