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The Shiba Inu price surged 8% in the last 24 hours to trade at $0.00002555 as of 03:42 a.m. EST on trading volume that soared 28% to $1.1 billion.
Shiba Inu Price To Continue Its Rally Above The $0.00002624 Resistance
The Shiba Inu price went on a retrace from March, after it hit a yearly high of $0.00004520, breaching the $0.00002672 support to the next support at $0.00002147, data from GeckoTerminal shows.
However, the support at $0.00002147 supported the bulls to drive SHIB up to the resistance at $0.00002624. In the last ten days, SHIB went down from this resistance to the support level of around $0.00002224 and then up to a level of $0.00002600, forming a rounding bottom pattern, which could encourage the bulls to push the price up.
SHIB trades above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the bullish momentum to the upside.
The Relative Strength Index (RSI) is rebounding from the 50-midline level to 67 as it closes in on the 70-overbought region, indicating that SHIB is currently under intense buying pressure.
The Moving Average Convergence Divergence (MACD) is also bullish, as the blue MACD line crosses over the orange signal line, forming a bullish crossover. A bullish crossover triggers more buys, which in turn propels the price to new highs.
Moreover, the green bars on the histogram also indicate that SHIB is on positive momentum, as they extend gracefully above the neutral line.
The Stochastic Oscillator 14 3 3 line (blue) also crosses above the trigger line (orange), representing a bullish moving average crossover.
Shiba Inu Price Prediction
The Shiba Inu price analysis on the 4-hour chart indicates buyers have an upper hand, as the RSI soars. According to the MACD and Stochastic Oscillator 14 3 3, SHIB is set to soar over the rounding bottom pattern, as the bulls target $0.00002924.
However, with the MACD and RSI indicating an overbought asset, there may be a price correction. In such a scenario, SHIB could undergo a slight retrace back to the support around $0.00002367, coinciding with the 200-day SMA.
Meanwhile, as the SHIB price soars, investors are also buying Solana meme coin $SMOG amid rumors of a top-tier exchange listing soon.
SMOG: The Best 100X Coin To Buy Now?
Since its inception, the Smog (SMOG) token has demonstrated strong performance, and today it’s surged 17% to trade at $0.05618, according to Coingecko.
One major factor giving it traction is its innovative approach to incentivizing token holders and fostering community participation via its airdrop program, which it vows to be ”the greatest in history.”
The team completed season 1 of the airdrop, rewarding $SMOG token holders who joined the project’s questboard on Zealy and completed daily quests and community tasks from XP. The first season ended with a snapshot taken on April 3 and giveaways amounting to about $1 million.
That same day, the team announced the token’s listing on the MEXC centralized exchange (CEX), adding that it might open the door for another top-tier exchange listing soon.
We're thrilled to announce that the @SMOGToken Kickstarter has concluded and $SMOG will be listed on #MEXC!
🔹Deposit: Opened
🔹SMOG/USDT Trading in the Innovation Zone: 2024-04-04 09:00 (UTC)Details: https://t.co/3ecyvrTv2n pic.twitter.com/kvgoFiYOib
— MEXC (@MEXC_Official) April 4, 2024
Season 2 of the airdrop began thereafter and is currently ongoing, with the focus now shifting to on-chain activity.
Token holders can also earn passively by staking $SMOG tokens for an annual percentage yield (APY) of 42%.
Buy or stake your ERC-20 $SMOG #Tokens through our platform. 💰🐉
Staked tokens are securely locked for 90 days, with rewards available for withdrawal at your convenience. 🔒💸
Every token purchased via our service is automatically staked for you. 🔄
— SMOG (@SMOGToken) February 22, 2024
99Bitcoins, a popular crypto YouTube channel with over 700,000 subscribers, believes that $SMOG has the potential to surge 100X.
With the possibility of another top-tier exchange listing in the works, now might be an opportune time to grab tokens before they become even more widely available.
The best place to buy Smog tokens is on its official website here, where there is a 10% discount while the offer lasts.
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