XShiba Inu Price Prediction: XSHIBA Tumbles 12% – Is It Worse Than Its Predecessor?

Updated: 29 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

XShiba has continued to drop lower as the bearish momentum intensifies. In the last 24 hours, XSHIBA has fallen by 53%.

XSHIBA was trading at $0.00000504 at the time of writing. Despite the recent plunge, XSHIBA is still up by 181% from an all-time low of $0.00000139 reported two days ago.

Data from DEXTools.io shows that XSHIBA has a market capitalization of around $50,000, making it a reasonably new token in the market.

XSHIBA Plunges As Traders Take Profits

There has not been much activity in the broader cryptocurrency market. As such, traders have been buying speculative tokens that can rally in the short term.

The recent correction of 53% comes after XSHIBA made triple-digit gains. The token is witnessing a volatile action popular with most small-cap cryptos.

The rapid gains saw traders rush to sell and cash in. The 24-hour trading volumes are at $60,000, according to DEXTools.io.

XSHIBA, despite being reasonably new, has been listed on CoinMarketCap, making it available to a larger audience. The token is being traded on Uniswap and IndoEx, limiting access to many traders.

Can XSHIBA Regain Bullish Momentum

XSHIBA’s chart shows volatile price action in the past day.

The Relative Strength Index (RSI) at 52 shows the selling pressure is easing, but buyers are indecisive.

The Moving Average Convergence Divergence (MACD) line is in the negative zone, pointing towards a bearish momentum. As such, XSHIBA could likely continue dropping in the short term.

The recent gains have seen XSHIBA’s popularity soar in the past day, and it is now among the trending coins on tracking platforms.

https://twitter.com/dageda88/status/1696016446214840587

The XShiba Inu project has also announced a series of developments that will happen in the ecosystem.

Tomorrow the BIG DAY for XSHIBA INU 🥳🚀

– 1st CEX LISTING
– HEAVY MARKETING CAMP.
– 1st PARTNERSHIP
– 2nd STAKING DAPP (90%)
– FARMING DAPP (75%)
– NFT COLLECTION (60%)

Stay Tuned Lots of BULLISH NEWS Coming‼️

— BOBO (@X_shiba_inu) August 27, 2023

Over $675,000 Raises As SONIK Presale Heats Up

As XSHIBA’s price corrects from the recent uptrend, a new meme coin project known as Sonik Coin continues to garner interest.

Sonik Coin is a project with much potential, with its presale having raised more than $675,000 so far. The amount raised from the presale event is ironic, given that the broader crypto market has been on a bearish trend that has seen most top coins report losses.

SONIK has been inspired by the popular gaming project known as Sonic the Hedgehog. However, the two projects are not affiliated.

The SONIK project is now working towards building a $100 million market capitalization. The developers have set a hard cap of around $2 million as Sonik seeks to significantly affect the memecoin community.

SONIK is trading at $0.000014 during the presale. The presale has only seven days left before it closes.

50% of SONIK’s total supply will be allocated towards the presale, 40% to staking, and 10% to liquidity.

One of the main features of the Sonik ecosystem is stake-to-earn, which allows token holders to generate passive income by adding tokens within a staking pool. The feature is already garnering interest, with over $23 billion being raised.

Newest Meme Coin ICO - Wall Street Pepe

Rating