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**Shiba Inu (SHIB) Bull Rally Faces $65.46 Trillion Meme Coin Bear Block**
The price of Shiba Inu (SHIB), a popular meme cryptocurrency, has been experiencing an upward trajectory in recent times. However, this bull rally may be facing an enormous bear block, with the bears now eyeing a staggering $65.46 trillion market capitalization.
As SHIB’s value surges, investors are left wondering if the coin can sustain its momentum or if the bears will prevail. To better understand the situation, we must first analyze the fundamental and technical aspects of this cryptocurrency.
The recent bull rally in SHIB has been fueled by positive news regarding Shibarium, a planned layer-2 scaling solution designed to increase the efficiency and usability of the Ethereum blockchain for DeFi applications. This development has sparked significant interest in the project, resulting in the price appreciation we see today.
In addition to this growth potential, some analysts have begun to predict that SHIB will reach new heights as it becomes more widely accepted among cryptocurrency enthusiasts. However, there are also concerns about how quickly investors can absorb this growing liquidity and if those who currently hold a negative profit-loss (PnL) on their SHIB will be incentivized to sell at least at break-even.
In conclusion
Source: u.today
