Shiba Inu has struggled in 2024, entering a bear market that wiped out $12 billion from its valuation. Its market cap dropped to $7.4 billion, causing concern among investors. However, the meme coin is now showing signs of recovery. Shiba Inu is trading at $0.00001274, up 1.28% in the last 24 hours.
A bullish pattern has emerged on the 4-hour chart, with a falling wedge breakout signaling potential gains. If SHIB moves above the 50-day moving average, a strong uptrend could follow.
Traders are eyeing key resistance levels. The next targets stand at $0.00001375, $0.00001485, and $0.00001565, representing a 22% increase. If momentum sustains, SHIB could rally further. A major breakout could push the price to $0.000020, marking a 60% surge from its current value.
Market sentiment remains divided, but some see massive potential. A well-known crypto figure suggested that a 12X move for SHIB is still possible. The coin is in a strong buy zone, and a big move may be imminent. Another analyst expects a long-term breakout, predicting a 450% surge. This projection targets $0.000081, a level that could redefine SHIBβs market position.
Shiba Inu launches SHIB OS for decentralized governance
Beyond price action, Shiba Inuβs ecosystem continues to expand. The project has launched SHIB OS, an advanced decentralized governance system. The team describes it as a bridge for governments and businesses to transition from centralized control to transparent blockchain-based models.
SHIB OS operates on Shibarium, a layer-2 blockchain that ensures security and automation. Its key features include decentralized identity, smart contract automation, an integrated DAO framework, and cross-chain compatibility.
The system enhances decision-making and eradicates bureaucracy. Fully Homomorphic Encryption offers greater security with it being suitable for practical uses.
Governments may utilize SHIB OS for secure voting, transparent expenditure, and identity management. Businesses may embrace it for supply chain tracking, compliance management, and decentralized marketplaces. Institutions may leverage secure data exchange and credential authentication. Non-profits may utilize the platform for donation tracking and transparent reporting of impact.
Decentralization is gaining importance with growing cyber attacks as well as public distrust. SHIB OS offers a systemic method of making this shift so organizations can take the lead. Shiba Inuβs platform is evolving from being a meme-coin into being a serious blockchain disrupter.
