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SHIB appears to be gearing up for a potential 100% surge, as current data suggests a possible comeback on the horizon. As SHIB’s price dropped, so did trading volume.
This shows one thing: the trend is getting weaker.
When price and volume decline, it often means the downward momentum is slowing down.
Let's go 🚀🔥🔥 pic.twitter.com/NLwFJkS6cZ
— Shib Spain ⛓️ (@ShibSpain) September 5, 2023
Shiba Inu successfully relaunched its Shibarium Layer 2 solution, similar to a tech company releasing an awaited software update.
This has brought renewed hope and energy to the ecosystem. The Shibarium relaunch added credibility and usefulness to SHIB, moving it beyond a meme coin.
Despite lower trading activity and falling prices, the recent tech improvements suggest a possible turnaround for SHIB.
SHIB is trading at $0.00000756 as of 7:47 a.m. EST, reflecting a decrease of 1.6% within the past 24 hours. Its trading volume has surged by 22% during the same time, reaching $100 million.
#CryptoNews: The total number of wallets on Shiba Inu’s newly launched layer-2 blockchain, the #Shibarium network, has surpassed 1 million in a meteoric rise since its relaunch.🚀
— CoinMarketCap (@CoinMarketCap) September 5, 2023
Since its relaunch, the Shibarium network, Shiba Inu’s newly launched layer-2 blockchain, has witnessed an astonishing surge, with the total count of wallets surpassing the 1 million mark. What does this spell for the price of SHIB?
SHIB Price Inches Closer to June Support
SHIB’s price encountered a resistance point at $0.00001136, allowing bearish momentum to take hold.
If this selling pressure persists, it could potentially drive the price down to its significant support level from June, marked at $0.00000608.
Additionally, the daily simple moving averages have positioned themselves above the price, reinforcing the downward pressure on SHIB’s price. Specifically, the 50-day moving average is an immediate hurdle for any price increase.
Furthermore, the RSI for SHIB is currently at 37 and is trending in a downward direction. This indicates substantial selling pressure that is likely contributing to the decline in price.
SHIB’s price could potentially experience a further decline, finding a crucial support level at $0.00000604.
Nevertheless, the bullish sentiment may mount in the coming days, leading to a potential rebound from this support level and driving the price upward toward significant levels at $0.00000834 and $0.00001136.
Investors in SHIB should consider participating in the SONIK presale, which will conclude in approximately an hour, potentially yielding substantial profits.
Sonik (SONIK) Presale to End in 1 Hour
Sonik Coin ($SONIK) has crossed the $1.5 million mark in presale funding, demonstrating its unique appeal as a meme coin inspired by a beloved Japanese gaming character. The coin’s website showcases its zany visuals, poised for viral success.
https://twitter.com/Sonikcoin/status/1698982493414715646?s=20
The momentum of $SONIK is rapidly increasing, with only 1 hour remaining in the presale and an impressive $1.674 Million in funding already gathered.
The project aspires to become the fastest meme coin to reach a $100 million market cap, supported by its presale contributions that nearly reached its $2.1 million funding goal.
Its innovative features, including the ongoing presale, $SONIK, aim to increase token supply, which amounts to 299,792,458,000 tokens, mirroring the speed of light in meters per second and symbolizing the rapid pace at which the Sonik character aims to achieve its $100 million market cap goal.
This strategic distribution has led to 17% of tokens being staked, effectively reducing potential selling pressure when the coin is listed on Uniswap, expected in the upcoming week.
Sonik (SONIK) Presale Potential for Explosive Growth
With its potential for virality and income-generating features, $SONIK is positioning itself as a frontrunner among meme coins.
Sonik’s presale has sold out quickly, setting the stage for a potential 100x gain for presale investors on its journey to a $100 million market cap.
Alternatively, if it reaches a $200 million market cap, presale participants could see returns as high as 100x.
5 hours and counting! 🕔 Tick-tock, don't let the $SONIK rocket leave without ya! 🚀
👉 https://t.co/s1fTdXDQCK pic.twitter.com/xrBQgF26Cg
— SONIK COIN (@Sonikcoin) September 5, 2023
$SONIK underscores its commitment to value through its strong liquidity strategy and proactive marketing efforts.
Allocating 10% of its token supply to decentralized exchange (DEX) liquidity ensures efficient trading. Additionally, the project plans to secure liquidity on Uniswap, providing presale contributors protection against potential rug pulls.
The renewed enthusiasm in the altcoin market has raised speculation about the potential price surge of $SONIK.
There is significant room for price growth, with an initial presale price of $0.000014 and a fully diluted market cap of $4.2 million.
To acquire last-minute $SONIK tokens, link your Web3 wallet to the official Sonik website and swap for $SONIK using either $ETH or $USDT.
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