Shiba Inu marketing lead Lucie has provided insight into the timeline for the project’s upcoming developments, sending the SHIB army into a panic. Speaking via X (formerly Twitter), Lucie as long as a look at the roadmap after meeting with the project leader, Shytoshi Kusama.
Lucie said: “After meeting Shytoshi Kusama, I can’t reveal much, but I can say one thing: the goal is to have everything finished by the end of this year. The entire vision must be completed by 2024/2025. It’s not a promise, but that’s the goal.”
This ambitious timeline suggests a rapid pace of development for the Shiba Inu ecosystem. The marketing leader highlighted the potential impact of these developments on the Shibarium, BONE and SHIB tokens themselves, particularly highlighting the role of decentralized applications (dApps) and strategic partnerships.
“With every dapp use on Shibarium and many important partnerships in the works, it should have an amazing impact on Shibarium and BONE, while also helping to burn SHIB,” she said.
Lucie further elaborated on the meaning of the DAO, saying, “The Dao will show the real power of LEASH and Shiboshi’s.” Additionally, the Shiba Inu team seems to be gearing up for another step forward with the SHIB Metaverse, with Lucie teasing, “As for the Shib the Metaverse… well, we’ll see. One world, one financial state. Hail to the real keepers!”
Shiba Inu Price on the Brink of a Breakout?
The SHIB cryptocurrency is currently showing signs of consolidation within a descending channel pattern, indicating a possible near-term breakout. According to the latest data, SHIB is trading at $0.00000904 against the US dollar on the Coinbase exchange, down a modest 1.8% in the past 24 hours.
Technical analysis of the SHIB/USD pair over the 4 hours indicates that the price is fluctuating within a descending channel, which is generally considered a bearish pattern but could lead to a bullish breakout if the price crosses the upper limit. The price has reached the larger trendline support of the weekly chart, indicating a strong historical support level.
The Exponential Moving Averages (EMAs) on the 4-hour chart provide important levels to watch. The 200-EMA ($0.00000938), 20-EMA, 50-EMA and 100-EMA are above the current price, with the 200-EMA acting as the main resistance.
Volume is quite low, which does not indicate significant buying or selling pressure at the moment. The Relative Strength Index (RSI) is hovering around 49.69, which is just below the neutral 50 level, indicating a balance between buyers and sellers. A move above 50 on the RSI could indicate increasing buying momentum, which could contribute to a bullish breakout from the channel.
Fibonacci retracement levels from the recent swing from high to low show that the 0.236 level at $0.00000878 has acted as the most crucial support lately, while the 0.382 level at $0.00001050 and the 0.5 level at $0.00001188 is potential upside resistance levels that come into focus as SHIB breaks out of the descending channel.
For SHIB to confirm a bullish breakout, it must consistently close above the upper boundary of the descending channel and the 200 EMA. A decisive 4-hour candlestick above these levels could encourage further buying, potentially leading to a test of the 0.382 Fibonacci level. Additionally, it is critical for bulls to keep price above the larger trendline support to avoid a bearish turnover that could see SHIB return to lower support levels.
Featured image from Shutterstock, chart from TradingView.com
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