Shiba Inu Price Prediction

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Shiba Inu, one of the most talked-about meme cryptocurrencies alongside Dogecoin and Pepe, is still far off its 2021 all-time high. Shiba Inu (SHIB) data reveals that whales hold 65.9% of the supply, showing a significant decrement of 4% in the past year.

Shiba Inu has emerged as one of the most successful memecoins, gaining popularity comparable to Dogecoin. The relentless dedication of the SHIB team to various community projects has significantly boosted the number of Shiba Inu price predictions, drawing attention from crypto enthusiasts and investors alike.

Despite 2022 not being the most favorable year for cryptocurrency prices, 2023 began on a positive note. The entire cryptocurrency market witnessed double-digit gains in the last two weeks. However, SHIB’s progress in terms of gains has been comparatively slower compared to other cryptocurrencies.

The SHIB token serves as the primary currency within the decentralized and community-driven Shiba Inu network, catering to millions globally. Originating on Ethereum in late 2020, it quickly gained worldwide popularity and is now accepted at numerous locations for payment.

Currently trading at $0.0000079, the Shiba Inu coin has experienced a slight 0.85% decline in the past 24 hours. Holding a total market cap of $4.61 Billion, it ranks 16th in the crypto market. The SHIB token’s trading volume stands at $61.81 Million, reflecting a decrease of 30% in the past 24 hours.

With over 589.35 Trillion tokens in circulating supply, the volume-to-market cap ratio of the SHIB token is 1.34%, indicating relatively low market volatility. In terms of technical analysis, the token faced a significant decline of nearly 30% in May 2023 after breaking crucial support.

Following the decline, a new swing low formed at $0.00000578. Despite attempts at recovery, the previous support level turned into resistance, resulting in further price declines. Recently, the SHIB token’s price has been consolidating above a swing low, forming an ascending triangle pattern.

However, weak hands’ participation in buying is evident from the lack of momentum, and the current price is trading near a trendline, potentially finding short-term support from buyers. For now, the price seems to be in a short-term uptrend as long as it remains above the trendline support.

However, if sellers manage to break and sustain below this support, the price could continue its long-term downtrend and potentially reach $0.0000072 and $0.00000652. Regarding the Exponential Moving Average (EMA) analysis, the SHIB price faced rejection from the 100 EMA and is now attempting to hold near the 50 EMA.

If the price breaks below the 50 EMA, it may experience further declines. As of the current moment, the Relative Strength Index (RSI) value for the Shiba Inu coin is 54.18, with the Simple Moving Average (SMA) line at 53.16, suggesting a potential pullback. Find out which altcoins are worth considering for investment in our guide.

The MACD lines are on the verge of making a bearish crossover, and the Histogram bars are forming above the mean line without showing any increase in height, suggesting a potential pullback and a potential reversal in the price trend. In recent days, SHIB has demonstrated the highest gains among all memecoins in the market.

However, it’s essential to note that the current market is highly volatile, and the price direction can be influenced by market sentiment and other external factors, making it unpredictable. Investors should exercise caution and stay informed about market developments. Take a look at our list of the top crypto ICOs to consider for investments.

Emerging alternative coins, Evil Pepe Coin, sells out 50% of its presale, ending on August 1st

Evil Pepe Coin ($EVILPEPE) has achieved significant success since its presale launch. Inspired by the viral appeal of Pepe the Frog Meme, the creators initiated the Evil Pepe project. The presale is currently underway, scheduled to run for a 5-day duration.

At present, the Evil Pepe Coin presale has reached the halfway mark, amassing over $1 million in funds. 90% of the Evil Pepe Coin tokens are available during the presale, while the remaining 10% is dedicated to locked DEX liquidity, with a hard cap set at $1,996,002.

https://twitter.com/evilpepe_token/status/1684692586672373762?s=20

With the presale countdown visible on evilpepecoin.com, investors have only five days left to join, possibly ending sooner if all tokens are bought before August 1st. Evil Pepe Coin is rapidly gaining attention in the memecoin space, featured in video reviews on major Crypto YouTube channels.

Evil Pepe Coin ($EVILPEPE) aims to emulate the price movements of PEPE, providing an opportunity for investors who missed out on Pepe’s substantial price surge to benefit. This presents a lucrative opportunity for investors to once again join the movement of this distinctive brand of memecoin.

Investors looking to diversify their portfolios with low-cap coins offering substantial growth potential should consider the presale, as the project’s founders have implemented locked liquidity for one month after listing on crypto exchanges to boost investor confidence and prevent sudden token dumping.

Moreover, this project incentivizes investors to hold its tokens in their wallets, offering $EVILPEPE as a reward. This incentive is designed to encourage adoption and increase the asset’s value. Take part in the $EVILPEPE presale at evilpepecoin.com.

Wall Street Memes: A leading viral memecoin with impressive presale performance

Wall Street Memes is currently creating a stir in the crypto world with its remarkable presale performance, amassing an impressive $18.2 million and still climbing. This ongoing presale offers early investors a tempting opportunity to acquire $WSM tokens at the attractive price of just $0.0325 each.

The project’s association with Elon Musk, who has interacted with the Wall Street Memes Twitter account, adds to the excitement, drawing comparisons to the rise of Dogecoin. Wall Street Memes stands out due to its well-designed tokenomics, poised to drive $WSM’s price growth. Get insights into the most promising memecoins to buy from our guide here

The project’s whitepaper reveals a strategic allocation, with 50% for marketing, 30% for community rewards, and 10% each for CEX and DEX liquidity, ensuring incentives for the community and sufficient liquidity. The project’s roadmap includes Tier-1 CEX listings, a gated community, and a target of reaching a $1 billion market cap for $WSM.

With solid tokenomics and a detailed plan, speculations indicate that $WSM could potentially see a 10x increase once it launches on exchanges. Interested buyers can acquire the token through bank cards or by swapping ETH or USDT tokens. To take part in the presale visit wallstmemes.com.

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Shiba Inu Price Prediction – Can $SHIB Recover To Its All-Time High?