- Shiba Inu’s Layer-2 platform Shibarium introduces Fully Homomorphic Encryption (FHE) to ensure on-chain privacy, advancing Web3 security and adoption.
- Alongside Shibarium, the Shiba Inu team has launched SHIB OS, a platform designed to simplify the transition from Web2 to blockchain.
Along with its Layer-2 solution, Shibarium, the Shiba Inu team has unveiled SHIB OS, a platform that eases the transition from Web2 to blockchain for businesses, governments, and individuals. The Shibarium platform, developed in Shib Inu’s blockchain ecosystem, aims to accelerate Web3 adoption by offering low-cost, high-speed transaction capabilities.
Shibarium: The Solution For Optimized Blockchain Efficiency
Shibarium works as an EVM-compatible network, and that makes it easy to integrate with any already existing Ethereum-based apps. The network has gained momentum and supports more than 2.1 million wallets and processes around 890 million transactions. Its architecture focuses on efficiency, making crypto transactions faster and significantly reducing fees.
A major advancement within Shibarium is the integration of Fully Homomorphic Encryption (FHE), a cutting-edge cryptographic technology that ensures on-chain privacy. With this feature, user data remains encrypted throughout transactions, preventing unauthorized access while maintaining blockchain transparency.
The adoption of FHE marks a shift toward enhanced security in decentralized finance and blockchain applications. It even reinforces Shibarium’s role in the evolution of Web3 privacy solutions.
As we reported last week, Shiba Inu’s Shibarium has unveiled an upgraded Swap and Bridge platform on Shib.io. This enhanced platform introduces users to a multichain Swap and Bridge experience, seamlessly integrating with Shibarium for improved connectivity.
Shiba Inu (SHIB) Price Action & Analysis
Amid these developments, Shiba Inu has been hit hard by the latest crypto market downturn. It plunged 32% over the weekend to reach its lowest price in five months. The decline has been driven by macroeconomic uncertainties and heavy selling pressure from retail investors. However, large holders have been accumulating SHIB, hinting at a possible shift in momentum, as mentioned in our previous article.
Currently, technical analysis suggests that SHIB may be completing a corrective ABC wave pattern, with the recent decline marking the potential end of Wave C. Historically, such formations have preceded upward moves, provided that accumulation by major investors continues. The recent dip to around $0.000013 coincides with a key support zone that has previously triggered price reversals.
A push above $0.000015 could strengthen bullish sentiment, potentially fueling a short-term rally toward $0.000018. Momentum indicators reveal early signs of selling pressure fading. The MACD histogram remains in negative territory, but its signal line is beginning to turn upward. If SHIB stabilizes above crucial moving averages, a bullish crossover could emerge, signaling a shift in market sentiment.
Despite signs of potential recovery, Shiba Inu remains at risk of further declines if broader market conditions worsen. A failure to hold above $0.000013 could confirm an extended correction, with losses possibly extending toward $0.000012. A more significant breakdown below this level might expose SHIB to further downside, with the $0.000010 level acting as the next major support. The MACD’s downward trajectory and widening histogram bars suggest weak demand, reinforcing the possibility of additional selling pressure.
However, if Shiba Inu’s price breaches $0.000010, the bearish outlook could intensify, with $0.0000095 emerging as a critical level to watch. Without renewed buying interest, SHIB may enter a prolonged period of consolidation.
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