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The Shiba Inu price has jumped by 14% in the last 24 hours to trade at $0.00001038 as of 9:00 a.m. EST.
Javon Marks called the pump while addressing his $32.7K followers on X a few days ago. He said SHIB had broken free of a year-long resisting structure, which has now led to the current pump. Javon predicted the pump could take SHIB up a giddying 750%.
$SHIB (#Shiba)'s prices, according to this technical setup, holds broken free of an more than year long resisting structure, which can be implying a trend-change to be coming and or in effect!
With these prices being broken out, a trend change can spark an over 750% run to… https://t.co/WsZyQ1LzaX pic.twitter.com/ldjWMCYLNF
— JAVON⚡️MARKS (@JavonTM1) January 8, 2024
Shiba Inu Price Prediction: Will SHIB Keep Pumping?
Looking at an in-depth analysis of 1-hour SHIB/USD charts, bulls look in control of the meme coin. The 50-period moving average has exceeded the 200-period moving average to form a golden cross. This suggests buying pressure on the token as bulls look to carry on the pump.
The Awesome Oscillator (AO) is also moving with green histograms, suggesting strong bullish trends on the Shiba Inu price. This is supported by the Average Directional Index (ADX). The ADX indicator is moving north, suggesting bullish trends on the meme coin.
SHIB 1-day chart | Source: TradingView
Meanwhile, as the Shiba Inu price pumps, Sponge V2 is making waves in the meme coin market. The presale has already raised $4 million staked and bridged tokens so far, and it is ranked among the top presales for 2024.
Shiba Inu Price Prediction: Is SPONGE V2 A Better Bet?
Sponge V2 is a relaunch of the original Sponge token, which debuted last year with a 100x pump.
There’s a unique process to attaining it. Either you buy and stake Sponge V1 through the Sponge.vip website’s buy widget, or stake held Sponge V1 through the Sponge.vip website.
A notable innovation for V2 is the play-to-earn gaming function, which allows holders to amass more SPONGEV2. Players earn tokens according to their standings in the captivating racing and fight game. This is one reason why it’s highly ranked among the best gaming tokens to buy.
Justin Sun’s Strategic Investments
Tron creator Justin Sun is investing in meme coins, including SPONGE. His wallet movements indicate significant interest in the token’s potential.
#PeckShieldAlert The address 0x9FCc…19Fe (Suspicious #JustinSun related) has withdrawn 6,166 $ETH (worth ~$13.8M) from #Binance pic.twitter.com/8jGbcwRvzg
— PeckShieldAlert (@PeckShieldAlert) December 26, 2023
Justin Sun last year expressed his deep interest in meme coins, revealing his intention to start investing in them.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
Sun holds in the region of $100k worth of SPONGE that’s stored in a wallet with a total value of $595 million. Observers speculate on the impact of even a tiny percentage of Sun’s wealth entering the Sponge market.
According to YouTube crypto analyst Jacob Bury, $SPONGE has the potential to explode on launch.
With the Shiba Inu price already rallying, those who missed the pump can secure gains with the Sponge V2 presale. But you’ll need to be fast with the token due to list soon.
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