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The Shiba Inu price has soared 31% over the last seven days to trade for $0.00003431 as of 7:50 a.m. EST time.
Trading volume is up 15%, with SHIB maintaining its position among the crypto top 10 on CoinMarketCap after surpassing Avalanche (AVAX) and Polkadot (DOT).
📊 CMC Ranking
Meme coins are on the move! 🏃$WIF and $FLOKI made incredible jumps. $PEPE & $BONK moved up stably while $SHIB & $DOGE held strong in the top 10!
Which one is your favorite? pic.twitter.com/I896d8u3dd
— CoinMarketCap (@CoinMarketCap) March 8, 2024
Meanwhile, the meme coin has merited a place on Robinhood’s leaderboard for the top 10 cryptos with the most gains this week.
Wow🙀
BREAKING NEWS‼️
🔺️#Shiba Inu ranks FIRST in #Robinhood’s leaderboard for the top 10 cryptos with the most gains this week
$48 BILLION DOLLARS TRADE IN 10 DAYS🙀
LISTED IN 100➕ EXCHANGES$SHIB ToTheMoon 🔜🚀🍀🪬💪💰🙏
Manifest Dream Big Believe Have Faith Claim! Pray pic.twitter.com/K7llwnVfNQ— SHIB Bezos (@BezosCrypto) March 11, 2024
More importantly, and as announced by marketing specialist for the Shiba Ecosystem and Shibarium Tech, Lucie Sasnikova, SHIB has earned a place on Forbes’ list of top 10 cryptocurrencies to invest in.
Forbes Mentions Shiba Inu Among Top 10 Crypto To Invest https://t.co/W54qkfKutj
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) March 11, 2024
This followed a report by Forbes’ advisors highlighting that Shiba Inu had wielded a market capitalization of $24.4 billion as of March 5, 2024, with the Shiba Inu price at $0.00004000 then. As of press time, SHIB market capitalization has dropped to just above $20 billion.
Shiba Inu Price Outlook As Mainstream Attention For SHIB Grows
The Shiba Inu price remains bullish from a broader market perspective, seeing as meme coins continue to take their cues from BTC. Data according to on-chain aggregator IntoTheBlock shows that the correlation between Bitcoin and Shiba Inu is 91%. As the Bitcoin price forays further north, the chances of the Shiba Inu price extending north also increases.
In the meantime, the Shiba Inu price is not showing any directional bias in the daily timeframe. It is consolidating within the confines of a symmetric triangle, which is a neutral technical formation. The next directional bias will be confirmed upon break out.
There is a clear strife between the bulls and the bears, with the histogram bars of the Moving Average Convergence Divergence (MACD) fading as they steadily edge towards negative territory. The same is seen with the histogram bars of the Awesome Oscillator (AO) flashing red as they move towards the midline.
Notice the subdued Relative Strength Index (RSI), moving horizontally to show a waning buying steam. The shrinking volume indicators, which suggest that the prevailing trend is losing strength, reinforces this supposition.
Nevertheless, seeing as all the indicators are still in positive territory, the odds still favor the upside. This means that the chances of a breakout above the upper boundary of the triangle are higher than the odds of a break down.
If the bulls have their way, the Shiba Inu price could break above the descending trendline of the triangle. This could pave way for the meme coin to reach for the $0.00004000 psychological level. In a highly bullish case, the gains could extrapolate for SHIB to reclaim the $0.00004567 range high, levels last tested on March 5.
TradingView: SHIB/USDT 1-day chart
Converse Case
On the other hand, a break below the ascending trendline of the triangle could see the Shiba Inu price drop to collect buy-side liquidity below $0.00003282. The next buy opportunity could present around the $0.00003000 psychological level. In a dire case, late and sidelined investors could secure entry at the $0.00002500 threshold.
Meanwhile, as the Shiba Inu price fills up a triangle, a new meme coin ICO, Scotty the AI, has sold out after pulling in about $5 million in the last week alone. It features among the top five meme coins to buy now with the potential for 10X ROI, according to crypto YouTuber Jacob Bury.
Promising Alternative To Shiba Inu
Scotty the AI (SCOTTY) has successfully raised upwards of $6.885 million in its presale, which is already sold out. This means now is the last chance to buy SCOTTY at its listing price of $0.01. You have less than seven days to make a decision and already Scotty’s amassed almost $6.98 million in funds raised.
Scotty is a unique fusion of meme coin excitement and powerful AI. Its objective is to empower users with essential information for informed decisions. This transcends the typical meme coin label and revolutionizes the blockchain space through advanced AI solutions.
💥Presale Update!💥
ScottyTheAi #1 #memecoin (w/Ai utility) of 2024$SCOTTY has raised $6.5M
🎉 this was raised way faster than expected due to the high demand of the crypto community wanting to join ScottyTheAi.
Well on our way to closing out presale early and heading for… pic.twitter.com/wOoGVbBYnT
— Scotty The Ai (@ScottyThe_Ai) March 10, 2024
Scotty has two key AI features. Scotty Swap allows users to swap Ethereum or BNB for Scotty tokens seamlessly, while ScottyChat serves as an AI-powered crypto companion that provides market insights and information about digital assets.
$SCOTTY marketing growing stronger. As it prepares to Launch in the next few days. Here is a few more pictures of drink coasters and window stickers that have been spotted and shared buy members of the Scotty telegram community. Drink coasters and window stickers through out… pic.twitter.com/K0XwI2xgLo
— Scotty The Ai (@ScottyThe_Ai) March 11, 2024
If ever a meme coin looked destined to challenge titans like DOGE, PEPE, and SHIB, SCOTTY surely is it. Just imagine how much money was made by investors who bought such meme coin stars before they were launched!
If you are interested to buy Scotty, you can do it here.
Also Read:
- Scotty the AI Presale Sold Out, Launch Price Round Begins at 9am GMT on March 11th – ClayBro Video Reviews
- Top Cryptos with Potential for 10x Returns in 2024 – Green Bitcoin, Scotty the AI, and Frog Wif Hat
- AI-Powered Meme Coin Scotty the AI Offers High APY in Presale – Michael Wrubel Video Reviews
- Austin Hilton Provides Honest Insights on the New AI Meme Coin – Scotty the AI Presale Review
- Scotty The AI (SCOTTY) – More Than Just a Meme: Uncovering the Layers of AI Innovation
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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