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Shiba Inu (SHIB) has witnessed renewed interest in the market as whale activity surges, driving optimism for a potential price rally. As the memecoin ecosystem remains volatile, SHIB’s recent increase in large transactions has caught the attention of investors, reinforcing confidence in its potential to maintain a positive trajectory.
SHIB Key Statistics
- Current Price: $0.0000190
- Market Cap: $11.25 billion
- Trading Volume (24h): $717.80 million
- Circulating Supply: 589.27 trillion SHIB
- Total Supply: 589.52 trillion SHIB
- CoinMarketCap Ranking: #12
Over the last 7 days, it’s up by 5.30%, while in the past 30 days, it has seen a modest increase of 0.65%. Looking at the 90-day performance, SHIB has risen by 19.03%, and on a year-to-date basis, it has surged by an impressive 76.45%.
SHIBUSD Market
Key Levels:
- Resistance: $0.0000195, $0.0000210, $0.0000250
- Support: $0.0000170, $0.0000150, $0.0000140
On the daily chart, SHIB/USD appears to be riding a bullish wave, supported by a break above the 20-day simple moving average (SMA). The Bollinger Bands, a volatility indicator, are showing gradual expansion, which typically signifies a potential price breakout. SHIB is currently trading near the upper band of the Bollinger Bands, suggesting strong upward pressure. However, if SHIB faces rejection at this level, a consolidation around the midline of the Bands (the 20-day SMA) could be expected.
The Relative Strength Index (RSI) for SHIBUSD stands at around 62, reflecting moderate buying pressure but not yet in the overbought zone. This level of RSI often indicates room for further upward movement before encountering significant resistance from oversold conditions. Should buying volume increase, SHIB could push past its immediate resistance of $0.0000195 and aim toward the next targets at $0.0000210 and $0.0000250. Conversely, a retracement to the lower Bollinger Band near the $0.0000170 support could provide an opportunity for reaccumulation.
Whale Activity Boosts Confidence in SHIB
A recent surge in whale transactions, from 895 billion SHIB on October 27 to an astonishing 3.73 trillion SHIB on October 28, has fueled increased interest in Shiba Inu. This spike, coupled with 170 whale transactions within 24 hours, highlights the growing confidence of large investors. Whale activity in memecoins often signals strong market interest, as large-scale transactions can lend stability or even trigger price upswings.
Shiba Inu Is On The Rise
The notable achievement of SHIB surpassing Avalanche (AVAX) in market cap, making it the 12th largest digital asset, further cements its influence in the crypto space. As investors’ sentiment builds around SHIB, this could pave the way for sustained momentum and a bullish outlook for the near term.
SHIBBTC Performance Insight
In the SHIBBTC pair, currently priced at 0.000000000263 BTC, the Bollinger Bands reveal an interesting pattern of tightening, which typically precedes a breakout. SHIB is trading near the upper Bollinger Band, suggesting a bullish inclination. The immediate resistance for SHIBBTC stands at 0.000000000269 BTC, while the immediate support level can be found at 0.000000000249 BTC. If SHIBBTC can break above the 0.000000000269 BTC resistance, it may experience a significant surge against Bitcoin, drawing additional attention to SHIB in the broader crypto market.
In a recent post on X by @MEME.nto, Shiba Inu unveiled an exciting Shibarium upgrade designed to enhance the experience for the Shiboshi NFT community. This update brings exclusive utility boosts that could potentially influence SHIB’s market performance, adding a new layer of functionality and appeal to the ecosystem. Enthusiasts are eager to see how this will shape SHIB’s journey moving forward.
Shiba Inu unveils Shibarium upgrade for Shiboshi NFT community! 🚀🔥 Don't miss out on this exclusive utility boost in #crypto #cryptocurrency #cryptonews #SHIB #Shibarium.
— MEME.nto (@MEME_nto_crypto) October 29, 2024
Alternatives to Shiba Inu
Shiba Inu (SHIB) is a meme coin backed by a vibrant community and an expanding ecosystem, including the ShibaSwap DEX and governance features through BONE. It aims to enhance its utility with the Shibarium Layer-2 blockchain, supporting decentralized applications, NFTs, and metaverse initiatives. Similarly, the emerging meme coin project Pepe Unchained ($PEPU) is poised to leverage the growing momentum in the blockchain sector.
Pepe Unchained has recently celebrated an impressive presale achievement, raising over $23.3 million, which underscores strong investors’ confidence in the project. This significant funding milestone not only highlights the enthusiasm surrounding $PEPU but also positions it as a serious contender in the meme coin market. The $PEPU token operates on its own Layer 2 blockchain, designed to liberate PEPE from the limitations of the outdated Ethereum blockchain.
Unlock The Potential Of Pepe Unchained: A Presale Gem
This new infrastructure promises to deliver transaction speeds up to 100 times faster than Ethereum, alongside drastically reduced gas fees, making it an attractive option for users and developers alike. The focus on enhanced performance and lower costs could significantly contribute to the project’s growth and adoption in the competitive cryptocurrency landscape. The future looks promising for $PEPU.
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