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The Shiba Inu (SHIB) ecosystem has reached a milestone today, Jan. 14, with the official launch of the TREAT token.
This is an important step forward in the evolution of the Shiba Inu ecosystem, introducing a new governance and rewards mechanism designed to enhance utility and foster greater community engagement.
TREAT is a utility and governance token, which is expected to empower holders to participate in key decision-making processes, such as governance proposals, treasury management, and development initiatives.
In addition, TREAT will be used as a reward token within the ecosystem, encouraging user participation and contributing to the overall growth and sustainability of the Shiba Inu network.
Major cryptocurrency exchanges have weighed in behind the launch of TREAT to strengthen its position in the crypto market and make it more accessible for investors. The prominent platforms have listed the token, organized airdrops, and enabled trading for the TREAT/USDT pair, increasing liquidity and ease of investment.
SHIB Surges on Day of Launch
SHIB, the native token of the Shiba Inu ecosystem, had a huge price jump today as it coincided with the much-awaited launch of the TREAT token.
SHIB is trading at $0.00002139, almost 7% up over the last 24 hours. This positive price action has also pushed SHIB's market capitalization to $12.59 billion, which reflects a 7% increase.
It's believed that the release of TREAT will revive interest among investors, which may result in a continuation of the surge in SHIB's price within the next couple of weeks and days.
Others, such as Lucie-an influential marketer inside the Shiba Inu platform-are looking forward to its bright future ahead.
Currently, the Shiba Inu is trading at a pivotal key formation for the SHIB/USD pair, and potentially showing a head-and-shoulders formation where bearish momentum could be expressed. Supported on the 200 EMA but facing the main support areas pressure, price lingers closely to that critical $0.00002 mark.
A decisive break above the neckline, likely around $0.0000225, would invalidate the bearish pattern and potentially pave the way for a rally toward $0.0000250.
Neutral in the current sentiment of the Shiba Inu can be seen on the RSI reading. The 4-hourly RSI at 49.5 is barely above the 50 mid point. Yesterday 1-dayly RSI is around 38 and today increase to 49.5 signals a possible switch to the upside.
CoinCodex forecasts an average annual price of $0.00003889 for Shiba Inu in 2025, with an expected trading range between $0.00001818 and $0.00004387. This suggests a potential 388% increase from current levels, with the highest projected price within this range potentially occurring within the next five days.
As more investors take a liking to SHIB and TREAT, it has seen tremendous growth in a very short span and has fast taken a pivotal position in the crypto space. It is an overwhelming task for the portfolio management of a meme coin in volatile market conditions.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
