Renowned analyst Javon Marks shares an optimistic forecast for Shiba Inu (SHIB), predicting a 480% price surge despite its current bearish trend. Marks highlights bullish patterns in SHIB’s RSI, suggesting a potential for significant recovery. The presence of a hidden bull divergence pattern indicates weakening selling pressure and a potential price reversal.
In contrast, SHIB has recently experienced a bearish market performance, declining by 7.4% over the past week and an additional 0.6% in the last 24 hours, trading at $0.00001326. Despite this, the Shiba Inu development team continues to advance, launching the ShibDev Portal for its Layer-2 blockchain, Shibarium.
The ShibDev Portal aims to enhance developer capabilities with essential tools like API Management and Node Access for building decentralized applications (dApps). This development could strengthen SHIB’s ecosystem, attract more projects, and potentially drive its price upwards by expanding its utility.
Shiba Inu’s long-term success may rely on these ecosystem improvements, differentiating the token from other meme coins through tangible use cases and utility provided by Shibarium’s growth. These advancements are seen as a positive step towards boosting the platform’s appeal and demand.
