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The Shiba Inu price has pumped14% in a week, despite falling 2% in the last 24 hours, to trade at $0.00002965 as of 3.30 a.m. EST on trading volume that skyrocketed 36% to $6.02 billion.
The crypto industry’s second-largest meme coin also reached a six-month high yesterday, when it climbed to $0.000030. The token last saw this price back in March of this year, when it surged to $0.00003592.
On a monthly chart, its price is up 67%, so while SHIB did suffer a minor correction in the last 24 hours, its overall trend is extremely bullish, perfectly mirroring the popularity of meme coins.
Shiba Inu Price Prediction
The SHIB price saw a minor correction in the last 24 hours, but overall, it is still quite high up. Not only that, but there are signs that it might start a recovery as soon as Bitcoin locates its bottom.
Shiba Inu’s Bollinger bands have started widening after they tightened down quite sharply several hours ago, which is a bullish signal. The price is also giving signs that it might finally separate from the lower band and return to the middle point between the two lines, or potentially even surge to the upper band and push it back up.
However, most traders wait for the real recovery signal from the meme coin’s Relative Strength Index (RSI), which recently dropped to the value of 30 — the start of the oversold zone — for the third time in 24 hours.
The RSI is showing that SHIB holders have oversold the token after every minor price recovery in the last 24 hours, which suggests that day traders have been using the opportunity to buy the dip and then sell as soon as the price went up even a little bit.
However, this also signals that they are ready to make their move as soon as the market allows it, and that SHIB is under close watch by the market participants. In other words, as soon as Bitcoin stops pushing the prices down, there is a strong chance that SHIB will shoot up to recover from the losses seen in the last day, and potentially retest the resistances at $0.000032 and $0.000033.
Promising Alternative To Shiba Inu
While traders are keeping a close eye on Shiba Inu, they are also not holding back when it comes to buying Pepe Unchained (PEPU), which is easily one of the biggest and most successful meme coin ICOs ever after raising over $64.6 million.
Pepe Unchained is a new Pepe-derivative meme coin and the first Pepe alternative to have its own blockchain. This gives it a huge advantage over both Pepe (PEPE), the third-largest meme coin by market cap, and its other alternatives.
Being based on Ethereum’s network, PEPE is slow, expensive to use, and unable to scale — all the things that PEPU is not, thanks to its new Layer-2 chain.
POV: Pepe is visualizing breaking his chains and getting swole doing it!
It's only a matter of time now.. 🐸⛓🧠 pic.twitter.com/KZSq5KDdn1
— Pepe Unchained (@pepe_unchained) November 24, 2024
Many have speculated over the past few months that the token could become the go-to meme coin for everyday use, or even that it is here to challenge and replace PEPE.
The PEPU ICO is ongoing, with the token’s price currently at $0.01295. However, it will only remain active for less than another 11 days, and given the demand, everyone expects its price to skyrocket. This is why investors have been putting so much money into the token, pumping its ICO like no other in 2024.
Crypto expert ClayBro, a YouTuber with 132k subscribers, say that PEPU is the hottest coin right now, with its potential being anywhere from 10x to 100x.
As mentioned, its ICO will end in little less than 11 days, and after that it will be hitting major exchanges, with many speculating that it won’t be long before it emerges on Binance, Coinbase, or both.
If you want a part of this blockbuster presale, you can buy PEPU with ETH, USDT, BNB, or credit/debit cards, and see what happens once it lists.
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