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The Shiba Inu price has skyrocketed 26% in the 24 hours to trade at $0.00001363 as of 4:30 a.m. EST on a 105% surge in trading volume to $2.257 billion.
This surge comes as the meme coin market explodes amid bullish market sentiment driven by the pumping Bitcoin price, which burst past $64,000 before paring gains.
Meme coins including Bonk (BONK), Dogecoin (DOGE), Wen (WEN) and Myro (MYRO) all soared in the past 24 hours as the market capitalization of meme coins tracked by CoinMarketCap soared almost 25% to $33.75 billion.
Shiba Inu Price Breaks Out In A Bull Rally
SHIBUSDT Analysis By Tradingview
The Shiba Inu price is in a gradual uptrend after hitting a double bottom at the $0.000006734 support zone, helping the bulls drive the price up within a rising channel pattern.
Despite the brief rejection at $0.00001197 resistance, the bulls seem resilient to continue the uptrend, using the support level at $0.000008875 to drive the price to the $0.00001473 Mark.
The price bulls have also pushed the price above the 50-day and 200-day Simple Moving Averages (SMAs), which currently support the price. The moving average cross at the $0.000007953 level affirms the general bullish outlook.
The Relative Strength Index (RSI) is trending upwards at 88 in the overbought region, rebounding from the 50 neutral level, indicating intense buying pressure for the Shiba Inu price.
Shiba Inu Price May Touch The $0.00002 Mark
The Shiba Inu is in a bullish bias as the bulls aim to push the price to the $0.00002 mark. The support zone at $0.000008875 and the golden cross at $0.000007953 support further upside potential. If the momentum sustains strongly, a breach above this level could see SHIB reach a new all-time high in the upcoming weeks.
Conversely, the RSI being in the overbought region could trigger a potential price correction. This might encourage the bears to take control and drive the price down, forcing the bulls to retreat to the $0.00001216 support zone.
Meanwhile, as the Shiba Inu price climbs, meme coin investors are also rushing to buy Meme Kombat as FOMO erupts around its official launch in less than a week.
Final Call: Buy MK Token Now, Launching In Less Than 6 Days
Meme Kombat, the Ethereum-based Web3 fighting game, has seen its native MK token sale raise a massive $10 million. There are now only five days left to buy MK at the discounted price of $0.279.
6 DAYS TO GO!
Bloodshed is nearing closer and we can't wait to see the memes battle it out⚔️ pic.twitter.com/I0UZSLvxJi
— Meme Kombat (@Meme_Kombat) February 28, 2024
Meme Kombat is a gaming platform that offers battles in which token holders can place wagers on their favorite memes to earn rewards in MK once their selected meme wins. There are also highly anticipated larger battles that come with even greater rewards.
Buy MK Tokens Now, Stake, Earn APY Of 93%
Buying MK tokens also enables investors to participate in a staking program with an annual percentage yield (APY) of 93%.
MK has over 13,100 stakers, with 77% of the total 42.22 million tokens locked in the staking program, indicating a high degree of investor confidence in the project’s ability to generate substantial gains in the coming months.
Meme Kombat is now SOLD OUT!
We want to thank each and every one of you for taking part in the presale. More news to come soon⚔️ $MK pic.twitter.com/YmrFWknYpa
— Meme Kombat (@Meme_Kombat) February 20, 2024
Jacob Bury, a crypto analyst and YouTuber, says that Meme Kombat has the potential to soar 10X on launch.
Visit the official website to buy MK tokens. You will need a compatible digital wallet to swap your ETH, USDT or BNB. You can also use your bank card.
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