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The Shiba Inu price surged over 5% in the last 24 hours to trade at $0.00002358 as of 5: 15 a.m. EST as investors start to accumulate the meme coin.
SHIB’s gain during the last day of trading has not been enough to flip its weekly and monthly performances out of the red. The meme coin is still down more than 8% over the past 7 days, with its monthly performance standing at -2%.
The Shiba Inu Price Challenging Resistance
4-hour chart for SHIB/USD (Source: GeckoTerminal)
The Shiba Inu price is attempting to escape the consolidation channel between $0.00002162 and $0.00002364 that it has been trapped in for the past couple of days. Should the meme coin close a 4-hour candle above $0.00002364 within the next 12 hours, traders might enter a long position.
This potential influx of buy volume could then lead to the Shiba Inu price rising to as high as $0.00002567 in the short term. However, a rejection from the $0.00002364 mark in the next 12 hours might invalidate this bullish thesis.
In this alternative scenario, the meme coin might be at risk of correcting down to the immediate support level at $0.00002162. Continued sell pressure should the Shiba Inu price drop to this technical crutch could lead to the crypto falling to the subsequent support at $0.00002021.
Shiba Inu Price Could Still Keep Rising
Technical indicators on SHIB’s 4-hour chart suggest the altcoin might keep rising in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flagging bullish.
In the last 24 hours, the MACD line crossed above the MACD Signal line. Traders usually see this as an indication that a crypto has entered a positive trend. What’s more, the MACD line breaking away above the Signal line might indicate that this bullish momentum is growing stronger as well.
SHIB’s RSI on the 4-hour chart corroborates the idea that bulls’ strength is increasing. Currently, the RSI is positively sloped towards overbought territory. It is also above 50, which is a sign that buyers have an upper hand against sellers.
With SHIB approaching resistance, traders might want to consider the Dogecoin derivative Dogeverse as an alternative.
The First Multi-Chain Meme Coin
Dogeverse (DOGEVERSE) is the first meme coin to reside on more than one chain. As such, the project brings an unprecedented level of utility to the vibrant meme coin space.
Not only can DOGEVERSE holders seamlessly transfer value across multiple networks, they can also take part in some of the most attractive yield generating opportunities on highly liquid networks. These blockchains include Solana, Ethereum, Polygon, BNB Chain, Avalanche and even Base.
Why limit to one when you can have it all? $DOGEVERSE begins on the secure #Ethereum network, ensuring robust security and reliability. 🛡️💻
🔥 Bridging gaps between #Cryptocurrency ecosystems, we enhance liquidity, utility, and fun across the entire #Cryptoverse! 🎉#AltSeason pic.twitter.com/zOg8albhry
— DogeVerse (@The_DogeVerse) May 3, 2024
Investors won’t even need to leave the Dogeverse ecosystem to grow their holdings. In addition to being a great speculative opportunity, Dogeverse is also offering buyers at this early stage a native staking program with a competitive 62% APY.
A 100X Opportunity?
Investors and traders are rushing to buy DOGEVERSE through its soon-to-end ICO. With more than $15 million sent to the token’s presale, the project’s team is offering one last chance to buy the meme coin before its official launch.
An analyst from Crypto Mischief analyzed DOGEVERSE recently and said the scale of its fundraising shows ”the bull run is here.”
Anyone that wants to buy the crypto at this early stage before it’s too late can do so on its official website. Selling for $0.00031, DOGEVERSE can be bought using either ETH, BNB, MATIC, BASE, SOL or AVAX. USDT and bank cards can also be used to acquire the token.
Purchase and stake DOGEVERSE here for up to 62% in annual rewards before it’s too late.
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Dogeverse - Multichain Meme Coin
- Early Access Presale Live Now
- Bridge To Solana, Base, BNB Chain, Polygon, Avalanche
- Staking Rewards - thedogeverse.com
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- World's First Chain Travelling Doge - Cosmo
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