Is It Too Late to Buy Shiba Inu? SHIB Price Pumps Up After Developer Teases New 'Exclusive' Update and LPX Token Raises $1.2 Million
As Shiba Inu's Summer of Shibarium continues to gain traction ahead of the highly-anticipated Q3 Shibarium launch, SHIB is once again on the climb amid excitement around an upcoming new utility for sister-token LEASH holders.
Doge Killer (LEASH) token is an important cousin of SHIB, playing an important role in the Shiba Inu ecosystem as the native utility token for the ShibaSwap DEX.
And now in a teaser shared by Shytoshi Kusama - a leading SHIB developer - it has been revealed that this week will see two new updates to the LEASH token.
The first of which is an 'exclusive exclusive' in other words, an exclusive feature exclusively known to those with exclusive access (LEASH holders).
While the second update, tipped for Wednesday, will see an entirely new utility unleashed for LEASH.
As excitement builds around the nature of these surprise updates, price action for ecosystem native SHIB token has surged and price is undertaking an attractive uptick.
SHIB Price Analysis: Is It Too Late To Buy Shiba Inu Ahead of LEASH Updates?
With markets bracing for the updates to LEASH token, SHIB is pushing high with price currently trading at $0.00001053 (a 24-hour change of +2.64%).
This comes amid a strong month for SHIB, which has climbed +24% since the start of August as markets brace for the Q3 Shibarium update - which will see the launch of a layer-2 scaling solution for the Shiba Inu ecosystem.
In a remarkable technical move, SHIB has ridden steadfast support from an ascendant 20DMA to reclaim key support from the 200DMA on August 11.
This is a significant milestone for rally structure, and a well-defended consolidation here (seemingly underway) leaves SHIB price poised to push up higher.
However, the RSI provides some cause for concern - overheating significantly on the recent upside move to a serious overbought signal at 67.82.
With the RSI signaling such bearish divergence, it seems likely a period of consolidation or even retracement could be on the cards.
The MACD provides some relief from this prospect, with bullish divergence at 0.00000015 reflecting the momentum throughout the past two weeks.
While consolidation may be on the cards, support from the 200DMA sets the scene for an alluring risk: reward ratio.
Upside potential at this point is aiming at a higher support level at $0.00001180 (+11.85%).
On the other hand, downside risk remains close at the 20DMA around $0.000009 (-14.69%).
This leaves SHIB remaining with a risk: reward ratio of 0.81, a bad entry characterized by outsized downside risk - stemming from the overheated RSI which demands consolidation.
But while SHIB is facing a rest-stop, smart money isn't sitting idle, and investors are flocking to an emerging crypto trading platform that offers the promise of accelerating your portfolio growth through identifying supercharged opportunities such as LEASH.
Launchpad XYZ Presale Skyrockets to $1.25m As Investors Flock for Market Advantage Insights
Introducing Launchpad XYZ (LPX), an innovative ecosystem designed to lower the entry barrier to Web 3.0 with user-friendly tools, insights, and analytics.
Whether you're a seasoned crypto user or just starting, this platform offers a range of features, such as NFT discovery, a decentralized exchange (DEX), a Web3 wallet, and utility token analysis.
At the heart of the Launchpad XYZ ecosystem lies the $LPX token - holders who stake a minimum of 10,000 tokens can reap numerous benefits, including substantial fee discounts, exclusive early access to NFT mint whitelists and presales, beta play-to-earn game launches, as well as cool community prestige badges.
The platform's intention to list LPX on major cryptocurrency exchanges is expected to drive significant demand for the token.
Following the introduction of its primary features in Q3 2023, Launchpad XYZ anticipates a substantial user adoption.
With its maximum token supply of 1 billion, $LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it a platform to watch in the rapidly evolving crypto industry.
Given its comprehensive suite of features and ambitious vision, Launchpad XYZ is set to break barriers and redefine the crypto space.
As it facilitates an inclusive Web3 ecosystem, the $LPX token is proving itself a promising opportunity for investors. Whether you're new to the crypto world or a seasoned investor, Launchpad XYZ is one platform you can't afford to overlook in 2023.
Explore the latest Web3 presale projects, P2E Hub for gaming, the Metaverse Experience Library, and the Trading Terminal for an immersive experience.
Future developments include a marketplace for fractionalized assets, a Trading Edge Game, and creator tools for brands.
Don't miss out on the opportunity to invest in Launchpad XYZ, a promising project with the potential for significant growth.
.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.