'Dogecoin Killer' Shiba Inu Leaps 15% Off Partnership News: 'Extremely Good Chart' Primed For 'Huge Run,' Says Analyst
Portfolio Pulse from Khyathi Dalal
Shiba Inu (CRYPTO: SHIB) surged over 15% following the announcement of a new privacy-focused network on the Shibarium blockchain in partnership with Zama. This network utilizes Fully Homomorphic Encryption and is supported by the Shiba Inu ecosystem token TREAT. The Shibarium network aims to offer low-fee financial services and gaming. Significant increases in new accounts and large transactions indicate strong buying activity. Analyst Altcoin Sherpa predicts potential huge runs for both Dogecoin (CRYPTO: DOGE) and Shiba Inu, highlighting their promising charts.
February 29, 2024 | 5:54 pm
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POSITIVE IMPACT
Dogecoin is highlighted by analyst Altcoin Sherpa as having a promising chart alongside Shiba Inu, suggesting potential for huge runs in the 2024-2025 period.
Although the article primarily focuses on Shiba Inu, Dogecoin is mentioned positively by Altcoin Sherpa, indicating a favorable outlook for its future price movement. This endorsement, especially considering the analyst's expectation of significant runs for both tokens, suggests a positive short-term impact on DOGE's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Shiba Inu's announcement of a new privacy-focused network on the Shibarium blockchain has led to a 15% surge in its price, indicating strong market approval and potential for further bullish momentum.
The introduction of a new privacy-focused network on the Shibarium blockchain, in collaboration with Zama, has significantly increased SHIB's trading volume and price. This development, coupled with the strong buying activity and the analyst's positive outlook, suggests a bullish short-term impact on SHIB's price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100