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The Shiba Inu price rose 7% in the last 24 hours to trade at $0.00002995 as of 03:51 a.m. EST on trading volume that surged 42% to $2.2 billion.
This comes as SHIB finally conquered the $0.00003 price threshold. The Shiba Inu price has gained 211% in a span of 30 days and still shows signs of rebounding back to the yearly high of $0.00004563 that was recorded on March 5.
Shiba Inu Price Looks To Breach 2-Week High At $0.000037
The Shiba Inu price had massive gains in March, soaring through a markup phase, only to experience a resistance around the $0.00004568 threshold. The rejection around this level allowed for a retracement to occur, which followed the phase of bearish sentiment in the wider market.
SHIB bulls have found support around the $0.000020 lower spectrum to push the price higher above the falling wedge pattern. The recent market recovery has provided strength for the bullish momentum.
Shiba Inu is trading well above the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the bullish momentum to the upside.
Additionally, the Relative Strength Index (RSI) is also rebounding from the 50-midline level at 56, which coincides with the SHIB price breaking out above the upper boundary of the falling wedge pattern.
Moreover, the Moving Average Convergence Divergence (MACD) also posits a bullish sentiment, as the moving average line (blue) crosses above the signal line (orange), which represents a bullish crossover.
The green bars on the histogram also support bullish momentum, as they extend above the neutral line to suggest that SHIB is currently on a positive momentum.
Shiba Inu Price Prediction – $0.00004 In Sight
The Shiba Inu price analysis shows a bullish bias, as the SHIB bulls aim to catapult the price higher above the immediate resistance zone at $0.000032 to a target of $0.000040.
Overall, the MACD and the RSI provide a bullish prospect for optimistic investors, who could add to their buys, possibly soaring the price even higher. Additionally, the 50-day SMA trades above the 200-day SMA, forming a golden cross at $0.000010, which shows that SHIB is poised for higher positions.
Conversely, if the bears continue exerting more pressure, the price could retrace, with the bulls retreating to $0.000025, which acts as a cushion against downward pressure.
As the SHIB bulls prepare for a rally, investors can also consider Dogecoin20, an alternative dog-themed token that is gearing up for its launch on April 20th after an incredible presale that sold out in less than 2 weeks with $10 million raised.
99Bitcoins, a popular YouTube channel, believes that Dogecoin20 is among the top five crypto picks right now with the potential to surge 100X on launch.
Dogecoin20: Best Alternative To Buy Now
Dogecoin20 (DOGE20) is an upgraded version of Elon Musk’s favorite DOGE meme coin and analysts say it might be set for greater success than predecessors including Shiba Inu and even Dogecoin itself.
https://twitter.com/DOGE_COIN20/status/1772555362840830017
The project aims to be a greener version of Dogecoin, and says it aims to “Do Only Good Everyday.”
https://twitter.com/DOGE_COIN20/status/1768242237266104505
Buy Now Before Doge Day, Stake For 98% Annual Rewards
The project also enables on-chain staking for holders, which provides passive income options for regular investors. You can stake your $DOGE20 tokens and earn an impressive annual percentage yield (APY) of 98%.
Utilizing Ethereum-powered smart contracts, #DOGE20 transcends its #Memecoin origins. 🌟🚀
Empowering the #Crypto Community with passive rewards! 💸
Optimize your $DOGE20 holdings by engaging in staking and earning rewards. 💎🔥 pic.twitter.com/cTbZcfRJjO
— Dogecoin20 (@DOGE_COIN20) March 24, 2024
Dogecoin20 has already set 15% of its 140 billion total token supply as staking rewards, to be distributed over 2 years.
April 20th is designated as International Doge Day, as it is believed to be Elon Musk’s favorite day. The team will conveniently launch Dogecoin20 that day, which offers a timely opportunity for investors to join now before the market excitement peaks.
https://twitter.com/DOGE_COIN20/status/1772679064219685060
To participate in the action, you have the option to acquire DOGE20 tokens for $0.00022 each through the official website. You can make payments using ETH, USDT, or a bank card.
With the development team extending the presale for one last chance to buy, interested investors should act fast because the extension might end at any moment.
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