SHIB News: Ethereum’s Pectra Upgrade to Boost Shiba Inu’s Shibarium and Future Prospects

In a potential game-changer for Shiba Inu (SHIB) holders, Ethereum’s upcoming Pectra upgrade promises to enhance the functionality and accessibility of Layer 2 solutions, including Shibarium. Here’s what you need to know about this exciting development and its implications for SHIB’s future.

Shiba Inu To Benefit Big From Ethereum’s Pectra Upgrade

Ethereum’s forthcoming “Pectra” upgrade, merging Prague and Electra improvements, is set to enhance scalability, staking, and user experience. Marketing lead Lucie (@LucieSHIB) highlights that this upgrade will make Layer 2 solutions like Shibarium faster, cheaper, and easier to use. Slated for release in April 2025, the Pectra upgrade aims to reduce friction and improve accessibility for L2 platforms.

Shiba Inu Bears Roar: Will SHIB Hit $0.00001272 Amid Market Sell-Off?

Shiba Inu is under mounting pressure, bringing the key $0.00001272 support level into focus. After multiple failed attempts to reclaim higher levels, sellers have tightened their grip, pushing SHIB toward a potential breakdown. The declining buying interest and growing bearish sentiment suggest that a decisive move below this support could lead to a deeper correction, reinforcing a more bearish outlook for the meme coin. If bulls fail to defend this critical zone, SHIB could see increased volatility. A strong rebound from this area may signal a potential shift in momentum, giving buyers a chance to regain control.

Shiba Inu (SHIB) Might Plunge by Another 30% Before Finding Support

According to Ali Martinez, Shiba Inu (SHIB) could find support at as low as $0.0000094. However, a breakout above $0.00001461 could trigger bullish momentum and a 230% price rally. The meme coin sector has suffered losses following the overall crypto market crash, with SHIB’s price plummeting by 16% weekly and 10% daily. Its market capitalization has fallen below $7.7 billion, and over 60% of investors are now sitting at paper losses.

Shiba Inu Nears Critical Support; Price Rebound Possible Due to Increased Burn Rate

Shiba Inu [SHIB] is nearing critical support levels at $0.000012 as selling pressure continues. The memecoin has dropped 10.85% in the last 24 hours and 15.49% over the past week, bringing its price to $0.00001314. Analysts have identified $0.000012 and $0.0000094 as key levels. However, SHIB’s 24-hour burn rate surged to 4,137.17%, reducing supply, which could trigger a price rebound. The 0.618 Fibonacci retracement level at $0.00001434 is currently in play.