- SHIB targets 283% rise in October, supported by strong historical trends and market optimism.
- Upcoming ecosystem upgrades and a DeFi shift could fuel Shiba Inu’s rally during “Uptober.”
Upcoming Developments and Future of SHIB in DeFi
Shiba Inu ecosystem lead Shytoshi Kusama hinted at some exciting updates for SHIB at the TOKEN2049 conference in Singapore. Speaking cryptically, Kusama suggested that the next two weeks will reveal some significant developments for the Shiba Inu ecosystem, sparking speculation about the long-awaited launch of the TREAT token and Layer 3 privacy chain.
This new network, which Kusama described as being focused on “private things,” could play a key role in SHIB’s future growth.
Will “Uptober” trigger a rally?
In October 2021, the price of SHIB saw an impressive 833.6% increase, largely due to its newfound attention in the cryptocurrency market. While the following months were less spectacular, October has still been a favorable month for the token, with growth of 10.4% in 2022 and 6.04% in 2023, giving rise to the nickname “Uptober” within the SHIB community. Despite the unpredictability of the cryptocurrency market, many are optimistic that history could repeat itself in October.
In addition to these ecosystem upgrades, Shiba Inu’s Head of Marketing, Lucie, encouraged users to prioritize decentralized finance (DeFi) and move away from centralized exchanges. She advised the community to familiarize themselves with DeFi wallets, blockchain basics, and secure their tokens using hardware wallets. Lucie also highlighted the benefits of migrating tokens to Shibarium, SHIB’s Layer 2 blockchain, which offers lower fees and faster transactions.
These combined efforts suggest that Shiba Inu is preparing for more than just price action, with strategic developments aimed at strengthening its role in the DeFi landscape. At the time of writing, Shiba Inu (SHIB) is trading at $0.000015having jumped from 4.32% over the last day and at an even higher level 13.28% over the past week.
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