Shiba Inu (SHIB) Nears a Breaking Point That Might Trigger a 455% Increase
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Shiba Inu (second-largest meme coin) has been in a prolonged downtrend for several months, but recent on-chain indicators suggest a potential price rebound and improved token performance. Stalled activity on Shibarium layer-2 is limiting DeFi adoption and on-chain utility, keeping downside risk as bears may maintain pressure and potentially affect DEX/CEX flows and broader crypto adoption.
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While the second-largest meme coin has been stuck in a prolonged downtrend over the past several months, some market observers believe the price may stage an impressive comeback soon.
Certain on-chain factors reinforce the bullish scenario, whereas stalled activity on Shibarium suggests the bears might not give up easily.
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