Shiba Inu (SHIB) rises 4.5% as upgrades boost demand

Shiba Inu (SHIB) has shown resilience amidst the broader crypto market slump, rising 4.5% while the market dipped by 1.5%. Despite a 23% monthly drop and a 40% decline from a year ago, SHIB's recent performance suggests early momentum for a rebound. The Shiba Inu protocol has introduced several upgrades, enhancing the efficiency and attractiveness of SHIB and its ecosystem tokens—TREAT, BONE, and LEASH. These improvements include more efficient staking, precision liquidity pools, auto burns triggered by trading activity, and streamlined trading interfaces. These changes are expected to boost demand for SHIB and its related tokens, making the ecosystem more appealing to seasoned traders. The deployment of these upgrades is likely a factor in SHIB's recent outperformance, which has begun to regain momentum after a period of decline starting in mid-May. The token's RSI has jumped to 50 from 30 a week ago, and its 30-day average has bottomed out relative to the 200-day average, indicating a potential big rebound. Given that SHIB is still 84% down from its all-time high of $0.00008616 set in October 2021, there is significant room for growth without entering an overbought region. If the market continues its gradual improvement, SHIB could reach $0.000020 next month and potentially $0.000050 by the end of the year, especially with upcoming launches like ShibOS. However, SHIB's reliance on upgrades for wider adoption means it may not experience significant gains for several months. Investors seeking short-term potential may turn to newer tokens like Bitcoin Hyper (HYPER), an Ethereum-based project launching a layer-two network for Bitcoin. HYPER's presale has already raised over $1 million, indicating strong early interest. The project promises faster transactions and lower fees, with plans to expand to Solana for high scalability and a range of DeFi apps. HYPER is currently available at $0.01185, with the price set to rise periodically during the sale. This makes Bitcoin Hyper an interesting project to watch, offering investors the opportunity to join its sale through the official website.