Shiba Inu Price Prediction: SHIB Is Green In A Sea Of Meme Coin Red As This DOGE Rival Gives One Last Chance To Buy After $10M Raise

The Shiba Inu price edged up by 0.3% in the last 24 hours to trade at $0.00002678 as of 3:30 a.m. EST on trading volume that surged by 7% to $685.4 million.

It’s presently the only meme coin above water as the sector’s market capitalization plunged 5.3% to $56.3 billion in the past 24 hours, according to CoinMarketCap.

🐂 $SHIB is signaling bullish…

✅ Increasing social activity
✅ Rising price action
✅ Accelerating market volume
✅ A very strong LunarCrush AltRank™ of 2

View the data at https://t.co/3NbRjXLeTb @Shibtoken pic.twitter.com/Ems1p6LHwg

— LunarCrush (@LunarCrush) April 4, 2024

Shiba Inu Price Prediction

While Shiba Inu is the only major meme coin to trade in the green at the moment, it will likely join the rest of the sector which fell under the bearish influence before long. However, this is not something that traders should fear, but rather something that they should use to their advantage.

Many understand this well, which is why they are turning to technical indicators to determine what will happen next. Shiba Inu’s Bollinger bands, for example, show an unusual amount of stability which has lasted for several days now. The bands are going up and down, but they are doing it together, maintaining relatively similar distance, without sudden widenings or narrowings.

This suggests certain stability, which may or may not last for much longer — that much remains unknown. For now, however, the bands suggest that SHIB is unlikely to see major movements.

Alongside them is the Relative Strength Index (RSI) — a technical indicator that shows whether the traders are focusing or buying or selling more. As can be seen on the chart above, the RSI value sits slightly under the neutral zone, although it still ventures toward the oversold zone, stopping just short of going too deep.

This shows that the bulls have been trying to help the price recover, but the bears are matching them with equal strength, preventing SHIB from seeing its price or RSI going further up. But, the fact that SHIB’s RSI value is below neutral, does present an opportunity for traders to push the price up by buying the tokens at a discount. All that they need are the right market conditions — for the bears to sell what they intended to sell, and allow the bulls to take over again.

Promising Alternatives to Shiba Inu

While SHIB has presented itself as one of the best options in the meme coin sector recently, there are worthy alternatives that investors can consider right now. One excellent example is Dogecoin20 (DOGE20), a new dog-themed meme coin that intends to provide a more eco-friendly version of Dogecoin.

The new meme coin sold out its $10 million allotment in just weeks, prompting the developer to offer one last chance to buy.

One clear advantage that DOGE20 has over SHIB right now is that DOGE20 is still in presale, rendering it immune to the market volatility for the time being.

Its price sits at $0.00022, and that is where it will remain until launch, scheduled for launch on DOGE Day on April 20. Launching a dog-based meme coin inspired by Dogecoin itself on Doge Day might guarantees a highly successful performance.

Apart from that, DOGE20 has utilities and advantages that you won’t find with the traditional DOGE. For example, it has resolved the problem of inflation by limiting its total supply. The number of tokens offered by Dogecoin20 is capped at 140 billion.

Next, Dogecoin20 also runs on Ethereum’s network, which reduces its carbon footprint to near zero, and allows it to offer staking.

🌿🐕 #DOGE20 stands out as a more eco-friendly and adaptable version compared to the original #DOGE, thanks to its operation on Ethereum's Proof-of-Stake network. 🔋

Being an ERC-20 token, it effortlessly fits into any well-known self-custody wallet for convenient storage. 📥 pic.twitter.com/qkYXjlcnjY

— Dogecoin20 (@DOGE_COIN20) March 20, 2024

That’s why buying DOGE20 right now might well be a smart move. Anyone who wishes to do so can buy the tokens with ETH, USDT, or credit/debit cards.

Visit the DOGE20 official website here.

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