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The Shiba Inu price has soared 10% in the last 24 hours to trade at $0.00001637 as of 3:25 a.m. EST on a 117% surge in trading volume to $823 million.
The SHIB price pump follows a recent post by Shib’s marketing lead Lucie on X, sharing news about the launch of a new stablecoin.
Introduced by the founder in 2021 and named SHI, this stablecoin is an important step for the Shibarium network. Although still in development, it has generated a lot of excitement within the community.
The SHI Stablecoin: A Key Development for Stability and Utility in the Shibarium Ecosystem
The SHI stablecoin is a crucial development within the Shib ecosystem, currently in the works and not yet released. Its introduction is expected to significantly enhance the Shibarium… pic.twitter.com/UyrJgnYR45
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 26, 2024
SHI is set to play a vital role in Shibarium’s DeFi applications, supporting lending, borrowing, and yield farming, which will enhance the network’s utility.
This could attract more users who are wary of crypto volatility, leading to higher adoption. Increased usage will result in more transactions, boosting the token burn rate and potentially driving up the token’s price.
Shiba Inu Price Could Rebound Above The Rounded Bottom Neck
The Shiba Inu price shows a strong bullish trend in the 4-hour timeframe, with indicators pointing towards potential further gains. A rounded bottom pattern has formed, signaling the end of a previous downtrend and the beginning of a new upward movement.
This pattern suggests that the market has established a solid base and is ready for further upward momentum.
A moving average crossover is also present, where the shorter-term moving average (in blue) crosses above the longer-term moving average (in green). This bullish crossover is a classic signal of an uptrend, reinforcing the current bullish outlook.
SHIBUSD Analysis Source: Dextools.io
Additionally, a support level has been established around 0.00001446, which has been tested and held firm. This strong price floor indicates buyers are stepping in to prevent further declines.
The green arrow labeled “More Reward” indicates that the price is expected to continue rising from its current level. The MACD (Moving Average Convergence Divergence) indicator at the bottom further supports this bullish sentiment, with the blue signal line crossing above the orange line, indicating positive momentum.
The widening gap between the MACD lines also shows that the bullish momentum is increasing.
However, the RSI (Relative Strength Index) is currently at 70.79, near the overbought threshold. This indicates that while the Shiba Inu price is in a strong uptrend, it may face some consolidation or minor pullbacks as the market could be slightly overextended.
SHIB is likely to keep moving up. However, since the RSI is close to being overbought, there might be a brief pause or pullback before it continues to rise.
Crypto All-Stars (STARS) Surpasses $1.6 Million In Presale: Best Crypto To Buy Now?
As the SHIB price soars, investors are also pumping funds into an innovative new meme coin called Crypto All-Stars (STARS), which offers a staking yield so astronomical it’s helped the project’s presale funding rocket past $1.6 million.
Popular YouTuber and analyst ClayBro, with over $130k subscribers, says that the growing demand for the STARS could drive its price higher after it launches.
Crypto All-Stars offers real utility through its ‘MemeVault’ feature, which allows holders of popular meme coins to stake their assets and earn rewards in $STARS tokens.
Supported meme coins include DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO. Users can also stake STARS tokens to earn a rare rewards multiplier.
What Is Crypto All-Stars?
Crypto All-Stars is set to revolutionize the meme coin sector with its innovative ‘Meme Vault’ platform. 💥
This is more than just another meme coin – it's an entirely new way to interact with the meme coin ecosystem!
— web3telepath (@web3telepath) August 15, 2024
Those who stake STARS itself can earn an annual return that is an off-the-charts 916%.
You can buy $STARS with $ETH, $BNB, $USDT, or a bank card for $0.0014652 per token. But don’t wait too long to buy because the price will increase in less than two days.
Buy $STARS from its official website here for a 916% APY.
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