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Shiba Saga’s native token SHIA features among DEXTools’ Hot Pairs List on Thursday despite 18% losses. This new meme coin is trading at $0.1740 on Poloniex, down 55% over the last seven days. Hopes are ripe amongst investors that the token’s migration to Uniswap V3 will spark a recovery.
Shiba Saga Maintains Spot on DEXTools’ Hot Pairs List
Shiba Saga (SHIA) is seeking to make a mark as one of the most successful meme coins in the market. One notable, intriguing aspect of SHIA’s journey is its impressive performance on DEXTools, a platform dedicated to monitoring crypto trends.
Shiba Saga continues to dominate DEXTools’ hot pairs list today as the SHIA/WETH pair takes positions 6 and 8, respectively. SHIA has been featured on this list for two straight weeks, attesting to the buzz around the token.
SHIA currently boasts a $7.7 million trading volume which has increased by 28% over the last 24 hours, according to data from CoinMarketCap.
The project was launched on Aug. 22, ushering in significant advancements. Carlos Rodriguez, the brains behind Shiba Saga and a prominent figure within the gaming space, plays a crucial role in this narrative.
He is listed among the team members on the project’s website and made his support for SHIA clear right from its debut.
Pepe can't 1,000x from here@Shibasagaio can.
8:28pm Dubai time.
2h 35m from now
— ⭕️ Carlos👌🏼ROcelote (@Carlos_ROcelote) August 22, 2023
I’m telling you now, DO NOT miss the TG AMA tonight at 6pm UTC/10pm Dubaihttps://t.co/nzcomX2Yz4@CarlosR
— Shiba Saga (@Shibasagaio) September 5, 2023
Shiba Saga Migrates to Uniswap V3
In a Sep. 7 post on X, Shiba Saga announced that it had “officially migrated to Uniswap V3.” This move was aimed at ensuring that the token enjoys a thinner Liquidity Pool (LP) for “continued growth and scalability” as well as helping the project achieve the liquidity required for listing on centralized exchanges (CEXs).
#Shia has officially migrated to Uniswap V3!
Thinner LP for continued growth and scalability!
Adequate Liquidity for new CEX’s requirements!
Capital efficiency to increase community giveaways, bigger marketing budgets, and shortened product to market timelines!
TIME TO… pic.twitter.com/FU7VLivKqa
— Shiba Saga (@Shibasagaio) September 6, 2023
According to Uniswap, the famous DEX, Uniswap V3 offers concentrated liquidity, giving individual LPs granular control over what price ranges their capital is allocated to. Individual positions can be aggregated into a single pool, forming one combined curve for users to trade against.
Shiba Saga’s decision to move to Uniswap V3 has been welcomed by the community, with one X user saying it was about time this happened.
Shiba Saga’s Chief Marketing Officer (CMO) Franky had tweeted earlier explaining the benefits the project was set to get after the migration.
https://twitter.com/FrankyKas_/status/1699306123629572223?s=20
SHIA Price Analysis
The Shiba Saga two-hour chart reveals a sharp upward trajectory that saw the token rise 50% from $0.160 to $0.2426. This was followed by a steep decline toward the current price, leading to the appearance of an inverse V-shaped pattern.
A breach and subsequent closure beneath the pattern’s neckline at $0.160 could spell doom for SHIA. The following support level is anticipated at $0.150 in such a scenario. Breaching this support would see Shiba Saga drop to $0.10, marking a decline of approximately 8% from the current price.
SHIA/USDT Two-hour Chart
The stochastic RSI corroborates this notion. Its inclination to the downside and away from the overbought zone validates the upward narrative. Moreover, the moving averages were facing downward, hinting at the presence of more sellers around these zones.
On the upside, the position of the stochastic RSI at 62 suggested that there was still room for recovery as the SHIA appeared to be under the control of buyers. If they manage to push the price above the 50-period Simple Moving average at $$0.1989, they could initiate a recovery.
SHIA would then rise to confront resistance from the 100-period and 200-period SMAs at $0.2339 and $0.2694, respectively. This would bring the total gains to 40%.
While SHIA has chances to reach a new all-time-high level, Bitcoin BSC (BTCBSC) is another coin worth considering.
SHIA Alternative
Bitcoin BSC (BTCBSC) is a high-potential proof-of-stake (PoS) token that allows users to earn rewards every 10 minutes. BTCBSC is built on the Binance Smart Chain and draws inspiration from the early days of Bitcoin, specifically in April 2011, when the big crypto was priced at a humble $0.99. Its circulating supply hovered around 6 million.
What sets BTCBSC apart from purchasing BTC in 2023 is the substantial price difference, the enticing staking rewards, and the remarkable growth potential. This novel concept follows a similar project, BTC20, launched on the Ethereum blockchain earlier this year. BTC20’s presale, amounting to $6 million, sold out within two weeks, yielding extraordinary gains of 600% post-launch.
Industry analysts are cautiously optimistic that BTCBSC could replicate this success when it launches in the coming weeks.
The new project is currently in presale, with one BTCBSC auctioning for $0.99, and it has already managed to raise $ 130,715. The presale will continue until its soft cap is reached, meaning until the project raises $3.96 million.
BTCBSC’s rewards are anticipated to substantially surpass those of other PoS platforms, such as Ethereum, Solana, and Cardano, with 4-5%, 6-7%, and 5-10% rewards, respectively.
Visit Bitcoin BSC here for more information on how to participate in the presale.
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