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The Shiba Inu price soared 30% in the last 24 hours to trade at $0.00002675 as of 03:21 a.m. EST on trading volume that dropped almost 2% to $4.17 billion.
This comes as the SHIB team prepares to launch the Ryoshi mainnet, which is set to enhance utility for Shiba Inu and advance the goals of the community. The platform is set to allow for seamless navigation, effortless bridging, and fast transactions, all at a minimal cost.
Woof woof! Ready for mainnet, Shibes? 🐶⛓
Our developer team is working tirelessly to ensure the best possible user experience on the upcoming #Ryoshi mainnet. With final tests underway and everything progressing smoothly, we're on track to announce a release date in the coming… pic.twitter.com/6QeR48ovQK
— Ryoshi 🔶 (@RyoshiL2) March 3, 2024
The Shiba Inu Price Bulls Sustain The Bullish Stance
The Shiba Inu price continues to record substantial gains, recording a 173% increase in the last week. Despite some resistance at $0.000024, which led to price fluctuations, it remains within an ascending triangle pattern, indicating a potential breakout on the horizon.
The SHIB bulls continue to show resilience as they breach the upper boundary of the triangle, soaring the price to the current resistance level of $0.000028.
SHIB is well up above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the current bullish trend. Additionally, the Relative Strength Index (RSI) is currently at 74, indicating intense buying pressure.
The Moving Average Convergence Divergence (MACD) is also bullish, as the moving average line (blue) crosses above the signal line, which is an indication of a bullish crossover. A bullish crossover encourages investors to buy more, as the price is set to surge further.
Additionally, the green bars on the histogram affirm the positive momentum, as they stretch above the zero line. The Average Directional Index (ADX) is above level 20 at 26, which shows a strong bullish trend.
Shiba Inu Price Prediction – Bulls Target $0.000035
The Shiba Inu short-term analysis indicates a bullish bias, as the price breaks above the ascending triangle pattern. Additionally, the RSI, ADX, and MACD create a favorable outlook for optimistic investors.
The 50-day SMA is trading above the 200-day SMA, forming a golden cross at $0.00000981. With these factors, the SHIB bulls are anticipating a 30.44% return to the next projected target at $0.000035 as the price hurtles towards its all-time high (ATH) at $0.000086.
However, the RSI has already crossed the overbought region, which may indicate a looming price correction. In such a scenario, the bears may take control of the price, allowing for a slight retrace, with $0.000020 acting as the support zone.
Meanwhile, as the Shiba Inu price soars, investors are rushing to buy into Meme Kombat with its presale closing in about 24 hours.
Buy Meme Kombat Before Launch, 10X Opportunity
The Meme Kombat (MK) presale successfully reached its funding goal, raising $10 million.
But there’s still a chance to get involved in the ICO with a final opportunity to acquire $MK at the promotional price of $0.279 before its presale closes.
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
Meme Kombat will list on major exchanges on March 5, which is expected to spark huge demand for the $MK token.
New week ahead of us and one of the most important in Meme Kombat's roadmap going forward⚔️ pic.twitter.com/t3N3xlyLO2
— Meme Kombat (@Meme_Kombat) March 3, 2024
The MK platform allows you to participate in AI-generated battles using meme characters that you wager on. You earn rewards when your chosen character wins. The project’s launch will mark the beginning of Season 1 of Kombat, which includes battling characters from 11 popular memes like Pepe, Milady, and more.
Season 2 of Kombat will follow, featuring the launch of Meme Kombat NFTs, which will add utility to $MK.
Stake $MK, 75% Annual Rewards
The Meme Kombat platform offers you an opportunity to earn passively by staking your $MK tokens, with a 75% annual percentage yield (APY). Investors have already staked over 44 million $MK tokens, receiving more than 10 million in $MK as rewards.
Jacob Bury, a crypto analyst and YouTuber with more than 30k subscribers, says the ”insane” MK has the potential to surge 10X on launch.
To participate, connect your Web 3 wallet to the official Meme Kombat website and exchange your ETH, USDT, or BNB for MK tokens.
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