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The Shiba Armstrong price skyrocketed over 163% in the last 24 hours to trade at $0.004789 as of 8:00 a.m. EST as investors rush to buy the meme coin.
SHIBA’s surge continued in the last couple of hours, with investors pumping the altcoin’s price more than 32% in just the past 6 hours.
The Shiba Armstrong Price Is In A Positive Sequence
4-hour chart for SHIBA/USD (Source: GeckoTerminal)
The Shiba Armstrong price has been in a positive sequence over the past 12 hours. During this time, it managed to overcome both the $0.002601 and the $0.003656 resistance levels to soar to a high of $0.004894. It has since retraced, resulting in the formation of a new resistance at $0.004661.
If SHIBA is rejected by this newly-formed barrier in the coming 8 hours, the Shiba Armstrong price could correct to the immediate support at $0.003656. Continued sell pressure should the crypto fall to this point might then see SHIBA plummet to as low as the aforementioned $0.002601 mark.
A 4-hour candle close above $0.004646 within the next 8 hours could invalidate the bearish thesis. Traders might then identify SHIBA overcoming this threshold as a long entry, since the altcoin will have a clear path to enter an exploration phase to the upside.
Bullish Momentum Could Push The Shiba Armstrong Price Higher
From a technical perspective, SHIBA’s surge has pushed it into a bullish cycle, which is evident by the Moving Average Convergence Divergence (MACD) line’s position above the MACD Signal line on the 4-hour chart.
What’s more, the MACD line is positively sloped and breaking away above the Signal line. This could suggest that the positive momentum is growing stronger.
One indicator that demands attention is the Relative Strength Index (RSI) on the 4-hour chart. With the RSI near 90, bulls seem to be overwhelmingly stronger than bears.
However, a high RSI value is generally seen as a sign that a crypto’s downside potential is greater than its upside potential. Traders therefore identify a high RSI value as a sell signal.
Some traders seem to have already decreased their exposure in SHIBA, as suggested by the leveling slope of the RSI line.
The RSI line sloping negatively, combined with increased sell volume, could confirm that the Shiba Armstrong price will undergo a correction. This could then lead to the crypto’s price dropping to the recently-breached $0.003656 mark.
But SHIBA is not the only meme coin that has caught investor attention, with the ICO of another canine-themed meme coin by the name of WienerAI blasting past $2 million in funds raised in its ICO earlier today.
A Loyal Crypto Trading Companion
WienerAI is an AI-powered meme coin that seeks to serve as an advanced and loyal companion for crypto traders. Through a simplified user interface, traders can take advantage of WienerAI’s sophisticated predictive models to make more informed trading and investment decisions.
In addition to powerful AI trading models, WienerAI also gives investors access to its seamless swaps, allowing them to capitalize on every golden opportunity that emerges as soon as they appear.
WienerAI is more than a trading bot
It's your AI trading companion!
More details coming SOON! pic.twitter.com/HG5C0tE6Rk
— WienerAI (@WienerDogAI) May 14, 2024
Token holders within the WienerAI ecosystem will also never get frontrun by a MEV bot again, given the MEV protection offered by the project. All of these features come with zero fees as well.
Perfect For The Upcoming Bull Run
There have been a lot of developments in the crypto space this year. Perhaps most notable of these developments is the launch of spot Bitcoin ETFs (exchange-traded funds). With the launch of these investment products in the US, many anticipate a tsunami of capital to make its way to the web3 space.
Although billions of dollars flowed into spot Bitcoin ETFs since the products launched in January, the market has been in a limbo phase as it braced for the quadrennial halving event.
With mining rewards undergoing another slash in recent weeks, the demand from spot Bitcoin ETFs and the increased scarcity of BTC is expected to send crypto prices soaring exponentially.
During this rally, investors and traders will likely turn to projects like WienerAI and its advanced AI to make more informed trading decisions and to maximize their returns.
Crypto YouTuber ClayBro also recently told his 128k subscribers that WienerAI’s native token could pump after launch and potentially generate 10X returns for investors.
What’s more, there is also a 487% APY being offered to ICO buyers. This means that investors won’t have to wait for the anticipated rally to start growing their crypto.
To acquire the project’s native token at this early stage and participate in its lucrative staking program, investors can buy WienerAI on its official website.
Purchase and stake WienerAI here for up to 487% in annual staking rewards.
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