Shiba Inu (SHIB) has seen a 10% increase due to updates in its DeFi technology and growing investor interest.
Shiba Inu Ecosystem Developments
The Shiba Inu team announced Shib Finance, a major upgrade introducing financial tools, including reputation-based lending and undercollateralized borrowing. The new platform aims to fuse traditional and decentralized finance with features like Karma Engine and Shib Attestation.
Market Interest in SHIB
SHIB was recently listed on BingX Futures, providing over 10 million users worldwide with trading access. Additionally, SHIB's burn rates skyrocketed by 8,100%, burning over 1 billion tokens per day.
SHIB Price Analysis
On the chart, SHIB has broken out of a descending wedge, indicating a potential trend reversal. The price moving above the 25 and 50-day averages confirms positive short-term shifts.
SHIB's growth is driven by ecosystem enhancements and market activity, creating positive expectations for the token's future performance.
