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After Elon Musk completed his Twitter purchase, Shiba Inu made a bold uptrend last week following a meme coin trading frenzy. SHIB is still up by 26% over the past week, while during the past 24 hours, it has gained by 3.6% to trade at $0.00001280 at the time of writing.
Shiba Inu price analysis
Shiba Inu is bullish today after the slight gains recorded over the past 24 hours. The meme coin currently ranks as the 14th largest cryptocurrency, with a market cap of $7.37 billion. The meme coin’s trading volumes have dropped by over 60% in the last 24 hours to around $913 million.
SHIB is showing low volatility, having traded between $0.00001172 and $0.00001285 over the past day. If the current gains can be sustained, we could see SHIB replicating last week’s rally, and the meme coin could head to $0.000-14 in the short term.
As the second-largest meme coin continues to rally, the Relative Strength Index (RSI) shows that the buyers are in control as the metric heads toward the overbought region. The current indicator shows that the trend is bullish, but there is also a risk of a trend reversal if the broader market fails to rally.
Shiba Inu was slated to release its layer-2 network, Shibarium, in the third quarter, but this failed to happen. Shytoshi Kusama, a Shiba Inu developer, has now said that an update of the network will be released soon. The release of Shibarium could be the fuel SHIB needs to rally higher.
Head down working. Update coming soon and I think you will love it. #ShibaEternity #Shibarium #SHIBARMY
— Shytoshi Kusama™ (@ShytoshiKusama) October 29, 2022
Why Tamadoge is a better buy
Tamadoge is a utility-packed meme coin. In the last 24 hours, TAMA has jumped by over 23%, ranking it as one of the top ten gainers, according to CoinGecko. TAMA has outperformed most meme coins despite being a new cryptocurrency because of its focus on utility.
Tamadoge has focused on the best of the web 3.0 & crypto sectors. The team brings the meme coin and the blockchain gaming community together in the Tamaverse. Tamaverse is a metaverse gaming world where players will battle with their Tamadoge non-fungible token (NFT) pets and receive rewards in TAMA.
Tamadoge recently released a drop of 20,000 NFTs listed on OpenSea. These NFTs are already attracting healthy demand.
📣 @Tamadogecoin Rare #NFTs Are Still Up For Sale On @opensea! 📣
Get Up To A 70% Better Chance Of Placing In The Top 3 Of The #Tamadoge P2E Game Global Leaderboards! 🥇
Follow The Link Below And Get Yours Now Before They Sell Out ⏰⬇️https://t.co/fNXA7S1J1l#SuperTama pic.twitter.com/2IAIJmi7hH
— PurpleDude (@purpledudenft) October 31, 2022
Meme coins rallied recently after Elon Musk completed the $44 billion deal to purchase Twitter. DOGE has jumped by more than 90% in the last week. A bullish rally for DOGE is good for a utility-packed meme coin such as TAMA.
New cryptos that could record 10x gains
If you consider buying SHIB or TAMA, you might also want to diversify your portfolio with these new cryptocurrencies.
Dash 2 Trade is a new project seeking to give crypto traders access to signals that will help them make informed investment decisions. The D2T presale has raised over $3.5 million. Stage 2 will end after raising 5,166,000, after which the price will increase.
The other presale you should consider today is IMPT. IMPT is a green crypto, ideal for ESG investors. IMPT.io plans to lower carbon emissions by supporting individuals and brands that want to lower their carbon footprint. The IMPT presale has raised more than $11.5 million.
Thirdly is the Calvaria (RIA) presale. Calvaria is a play-to-earn gaming platform that also plans to attract players that do not have experience in crypto. The RIA presale has already raised more than 900,000 USDT.
Related
- How to Buy Shiba Inu Coin (SHIB) in October 2022
- Shiba Inu Up by 22%: Here’s What You Need to Know
- Is Shiba Inu a Good Buy Now or Tamadoge?
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