The cryptocurrency market has taken a hit following the Federal Reserve’s warning of another interest rate hike. Bitcoin, in particular, has been affected and has dropped to the $21,000 mark.

However, there is good news for Shiba Inu’s SHIB, which has only experienced a minor drop and has gained nearly 2% over the past 24 hours. At the time of writing, SHIB is trading at $0.000011, representing a 1.9% increase from the previous day.

Shiba Inu’s Positive Trade and Shibarium Launch

Shiba Inu has been able to maintain this positive trade, despite other major currencies facing a pullback, thanks to the upcoming launch of Shibarium, expected to happen this week. Although the currency’s 30-day moving average is showing a gradual decline and might drop below its 200-day average in the next seven days, it is expected to reverse its move and start an upward trend after the Shibarium launch.

While Shiba Inu’s core developer, Shytoshi Kusama, has confirmed the launch of Shibarium this week, the network’s developers and admins have issued a warning against increased scams in connection with Shibarium. 

They have taken to social media platforms to urge caution and advise community members to wait for official accounts to release further information. This warning comes after various Shibarium beta or scan links were discovered, with some community members even losing their holdings as a result.

Shibarium Launch: What to Expect

Despite these warnings, the Shiba Inu community is eagerly awaiting the Shibarium launch, which is scheduled to happen on March 11, as claimed by the official Twitter handle. 

If Shibarium performs as expected, Shiba Inu’s price might claim its next bull run above $0.000013. However, if the currency fails to hold on to its support level of $0.0000105, the SHIB price might lose its $0.0000100 level.

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