Shiba Price Prediction: SHIBA Rises 200% While Meme Kombat Presale Achieves a Key Milestone

Updated: 17 October 2023

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Shiba price prediction is bullish as it trades at $0.000000002506. Though SHIBA is turning down on the four-hour chart, it is up close to 200% on the day and has rallied approximately 261% over the past 48 hours.

According to data from CoinMarketCap, the token’s 24-hour trading volume has jumped 175% to $676,240. As a result of this growing trading activity, SHIBA ranks number one on the list of trending tokens on Dextools.io today.

Top Trending Tokens Today

Top 5 trending tokens on Dextools — **Source**: *DEXTools*

This follows a strong rally initiated on Oct. 15, causing the token to reclaim key support levels. If the current bullish recovery is sustained, technical indicators and a highly bullish technical formation point to a massive move for the Shiba price.

Shiba Bulls Could Exploit Rounded Bottom Pattern for 78% Gains

Shiba price dropped approximately 79% from a high of $0.000000003707 to set a swing low of around $0.0000000006873. This was followed by a steady run-up to the current price of $0.000000002506.

This price action has led to a rounded bottom pattern on the four-hour chart, as shown below. This pattern appears when an asset initially descends toward a low, indicating an excess supply. A reversal to an upward trend occurs when buyers enter the market on the dips (at the bottom of the formation), which increases demand for the asset. Once the rounding bottom is complete, the asset breaks out to start a massive move upward.

In the case of the SHIBA price, a breakout from the rounding bottom chart pattern could occur once the token produces a four-hour candlestick close above the price immediately before the start of the initial decline (the neckline) – in this case, the $0.000000003707 mark.

This sets the Shiba price on the path to a 79% increase from the breakout point to reach the bullish target of the prevailing chart pattern around $0.000000006616. This would constitute a 164% ascent from the current price.

SHIBA/USD Four-hour Chart

Shiba Price Chart — DEXTools Chart: SHIBA/USD

Apart from the significantly bullish chart pattern, the Stochastic RSI showed that the buyer’s grip on SHIBA remained firm. This trend-following oscillating indicator was positioned at 100 in the overbought region, suggesting the uptrend was very strong.

The Moving Average Convergence Divergence (MACD) indicator was moving upwards, indicating that the buyers were in complete control of the price, adding credence to SHIBA’s positive outlook.

Moreover, the price traded above all the major support levels, providing robust support on the downside. These areas were defined by the $0.0000000020 and $0.0000000010 psychological levels.

On the other hand, the dog-themed crypto was turning down as a red candlestick appeared on the four-hour chart. The Stochastic RSI was flattening out in the overbought region, suggesting that although there were more buyers than sellers, their strength could soon run out as buyer fatigue kicked in. This implied that the ongoing price correction favoring the downside could continue soon.

As such, a four-hour candlestick close below $0.0000000020, would invalidate the recovery efforts and extend the current sell-off, resulting in another correction toward the $0.0000000010 psychological level, or the chart’s bottom around $0.0000000006873.

SHIBA Alternatives

Meme Kombat (MK), is a new meme coin set to become the market’s favorite from its inception. This project leverages the cutting-edge technology and the decentralized power of the Ethereum network to create a unique and engaging gaming experience.’

The team behind $MK launched the presale on Sept. 21 and has already garnered over $500,000 within just a month of its launch.

No BS.

Kombat is only for the most honorable⚔️

Catch the full video from @cryptonews down below⏬ pic.twitter.com/nLtzJm78K5

— Meme Kombat (@Meme_Kombat) October 16, 2023

The $MK token is auctioning for $1.667 and can be bought from the Meme Kombat website using ETH, USDT, or on the Binance Smart Chain using BNB. Interested investors can use various crypto wallets, including MetaMask, Trust Wallet, CoinBase Wallet, OKX Wallet, and Ledger Live Wallet.

From the presale phase onward, $MK token holders can promptly engage in staking their tokens and receive an impressive annual percentage yield (APY) currently at 112%. This means that early investors stand to gain the most, as they can start earning from the outset and benefit from potential price increases.

Combining the features of stake-to-earn (S2E) and play-to-earn (P2E), Meme Kombat allows the player who emerges victorious in the battles to be rewarded with valuable prizes that investors eagerly anticipate. Payments are made instantly using blockchain technology, improving the overall gaming experience while ensuring transparency and security for all players.

These enticing features and captivating design guarantee the potential for a 10x return on investment, making it the next cryptocurrency to explode, as opined by Crypto Gains in a YouTube review.