Join Our Telegram channel to stay up to date on breaking news coverage
As meme coins surge back into popularity within the cryptocurrency space, Shiba Inu (SHIB) appears set for a potential rise in the coming weeks.
Recently, SHIB has faced significant downward pressure, worsened by reduced volatility around the resistance level of $0.00001136.
Over the past 24 hours, Shiba Inu’s price has seen a 1% drop and is currently trading at $0.00000677 as of 6:22 a.m. EST.
SHIB Price Signaling a Rebound on $0.00000613 Support
The SHIB price has experienced a decline, erasing the gains made by buyers over the past six months within a descending channel. Nevertheless, the price now indicates the possibility of a rebound from the previous support zone at $0.00000613.
Momentum indicators also contribute to the bearish sentiment, with the Relative Strength Index (RSI) remaining below the 50 level, signaling a rebound from the oversold level at 30. This suggests a potential increase in buying pressure that could drive the RSI to a neutral level in the coming weeks.
At the time of writing, the 50-day and 200-day moving averages are positioned above the price, indicating intense bearish pressure. As momentum decreases, bears may seize the opportunity to push down the price of Shiba Inu, potentially retesting the immediate support level at $0.00000613.
Furthermore, the 50 simple moving average acts as immediate support for the price of SHIB, further bolstering the bearish momentum.
SHIB Short-term Bearish Momentum
SHIB’s bearish trend might be short-lived, as bears could encounter resistance at the $0.00000613 support level, potentially paving the way for bulls to push the price higher.
A clear break below this level would validate the downtrend, potentially exposing the meme coin to increased selling pressure.
Conversely, increased buying pressure may lead to SHIB breaking through the 50-day SMA at $0.00000747.
To confirm an uptrend, the Shiba Inu price must surpass the midline of this order block at $0.00000814. Such a move would represent a 17% increase from the current levels.
Bulls could be empowered to propel SHIB toward the supply zone in a highly bullish scenario, identified at $0.00001139.
As SHIB bulls look to take control, investors are accumulating a new coin, BTCMTX.
Bitcoin Minetrix (BTCMTX) Surpasses $1 Million in Presale with 4 Days to Go
Bitcoin Minetrix (BTCMTX) maintains its strong appeal to global investors as its presale surpasses the $1 million milestone, having raised $1,103,707, where each token is available for purchase at a rate of $0.011.
With just 4 days remaining, the presale is rapidly approaching its conclusion, positioning itself as a cryptocurrency industry leader.
Big News 📢#BitcoinMinetrix has raised over $1,000,000! pic.twitter.com/LYmTgxfH51
— Bitcoinminetrix (@bitcoinminetrix) October 11, 2023
The project’s innovative stake-to-mine system has also caught the attention of investors, effectively reshaping the mining landscape.
Investors who buy $BTCMTX tokens can stake them in an Ethereum-powered smart contract in exchange for ERC-20 mining credits. These credits empower them to claim a share of the yield or cloud mining time, resulting in passive BTC rewards.
Only 4 days remaining of Stage 1! 🕒🚀 pic.twitter.com/3Ul2knHgoe
— Bitcoinminetrix (@bitcoinminetrix) October 11, 2023
The BTCMTX staking pool currently boasts a 535% APY, with 77 million tokens staked during the presale.
Last Chance, Buy BTCMTX, $30,000 Minedrop
The decentralized approach for BTCMTX helps mitigate common scams and centralization risks frequently encountered in the cloud mining sector.
It gives investors complete control over their tokens, allowing them to unstake and trade at any time without requiring long-term contracts or cash deposits.
The project has also introduced a ‘Minedrop Competition’ that includes a $30,000 airdrop, with 10 lucky participants having the chance to win $BTCMTX tokens, each valued at $3,000.
🎉 #BitcoinMinetrix $30,000 Minedrop Is Now Live! 🎉
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for the chance to win one of ten $3,000 $BTCMTX Prizes! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N— Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
Jacob Crypto Bury, a prominent figure boasting over 22,000 YouTube subscribers, provides detailed explanations of the mining and BTCMTX acquisition processes on his YouTube channel. He has also bought $2,000 worth of BTCMTX, adding to his portfolio.
Bitcoin Minetrix ensures long-term sustainability by allocating 35% of the token supply for marketing initiatives. Furthermore, 42.5% of the tokens will support the development of the cloud mining operation, and 7.5% of the supply will provide staking rewards during the presale. The remaining 15% of tokens are earmarked for community rewards.
You can acquire the token using bank cards or swapping ETH, BNB, or USDT for $BTCMTX on its official website.
Related News
- Sam Bankman-Fried’s Alameda Research Lost At Least $200 Million To Security Breaches, Former Engineer Says
- Why this New Meme Coin Could Pump 10X Next
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage
