The crypto token Shido (SHIDO) has seen its price spike over 30% today.

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Crypto influencers attribute the rapid growth to anticipation building ahead of Shido’s upcoming mainnet blockchain completion, scheduled for January 19.

Major Price Milestones Achieved
Over the past days, SHIDO has achieved several new all-time high prices according to posts shared by crypto trader Crypto Wav3z. After breaking out from $0.008 initially, the token saw a brief retracement back below this threshold. However, robust buying pressure quickly absorbed the dip, spurring SHIDO onwards to new highs.

Just yesterday, SHIDO succeeded in burning a zero off its pricing, crossing the symbolic $0.01 cent benchmark. This prompted Crypto₿irdy to highlight the token remains undervalued with a “easy 10X” still achievable from today’s levels.

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Ramp Up To Mainnet Launch
What lies behind the building momentum is Shido’s imminent mainnet launch completion on Friday. The proprietary Shido Chain will serve as a base layer optimized for the project’s DeFi ecosystem. Crypto influencers have noted activity suggesting preparations for the mainnet deployment.

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Crypto Wav3z points to a “wallet funded from #Binance” that recently transferred $1 million to Shido’s deployer address. Further, one of the project’s largest token holders, Wallet 9774, is now ranked in the top 15 by balance. This could signal partners gearing up to participate on the fresh mainnet once live.

With the long-awaited blockchain on the verge of going live, investors seem confident that Shido will be primed for major expansion in 2024. The stream of positive developments has traders like Crypto₿irdy predicting prices could still be 10X from today’s levels. For now, the momentum carries SHIDO onwards to set new all-time high watermarks.

Vignesh Karunanidhi

Vignesh Karunanidhi

January 18, 2024

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