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Shiba Inu (SHIB) is now facing bearish pressure despite the updates surrounding its Shibarium launch. Could this be a sign of further decline or a bullish trend ahead?
Shiba Inu Price Kicks Off Sell Move
As of 5:50 am EST, Shiba Inu (SHIB) has fallen slightly by 1% over the last 24 hours, trading at $0.000008318. However, SHIB’s overall weekly performance remains positive, with a gain of 6.40%.
Interestingly, the recent price dip has not affected SHIB’s trading volume, which has risen by 22.8% over the past day. The trading volume now stands at $181.4 million.
Sell Pressure Mounts SHIB’s Market
SHIB has encountered a significant resistance level at $0.00000850, which could trigger a selling move. Moreover, the token’s price remains below the 200-day Moving Average, confirming the bears’ pressure on the market, which could last a few days.
Also, the MACD indicator has formed a partial green bar following a few vivid ones. This display implies that the bulls are now losing strength in the market, which could result in a bearish trend.
However, SHIB trades above the 50-day MA, a position that may serve as a support level in the future.
Meanwhile, the RSI holds at 58.4, and the MACD line stands above the signal line. While these positions may encourage a bullish move, the resistance level at $0.00000850 could remain its most substantial opposition.
The trend above suggests that SHIB will likely drop from $0.000008318 in the coming days. But the crypto market’s fluctuations could reverse the trend negating the analysis above.
Shiba Inu Alternative
The yPredict presale is rapidly approaching its conclusion, making significant progress as it moves through its stages.
The presale has already achieved an impressive fundraising milestone of over $3.2 million at stage 7. It is now aiming for another significant milestone of more than $4.58 million.
The solid and engaged community supporting the project is at the heart of this success. The platform’s value is also apparent through various beta tests, showcasing its utility and potential.
What sets yPredict apart is its core value proposition, which involves leveraging artificial intelligence to optimize decision-making in the cryptocurrency market.
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By doing so, it aims to assist investors and traders in identifying opportunities in the crypto industry and the broader Web3 ecosystem. The AI model has proven successful through rigorous testing, reinforcing confidence in its potential.
Another positive move from the team is the creation of support channels meant to protect investors’ security.
yPredict’s Presale Creates an Attractive Investment Option for Early Buyers
To fuel its journey and growth, yPredict is inviting investors to participate by offering the native token of the platform, YPRED, at $0.1.
This token is a fundamental component of the platform’s ecosystem and represents an opportunity for investors to join and contribute to the project’s future endeavors.
Once the presale phase concludes, the token will be listed on multiple cryptocurrency exchanges at $0.12. This move opens new avenues for liquidity and trading, potentially attracting a broader audience of investors and traders.
Investors who wish to participate in the yPredict project can connect their digital wallets, such as MetaMask or Trust Wallet, to the yPredict website.
This streamlined process allows investors to seamlessly buy the token by swapping their Ethereum (ETH), Cardano (ADA), or Polygon (MATIC) cryptocurrencies for YPRED.
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