Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Shiba Inu (SHIB) has maintained its downward trajectory and is presently trading near the $0.0000285 mark. A recent liquidation of 533.6 billion SHIB tokens, valued at $15.99 million in DAI stablecoin, by a single entity across 11 wallets has sparked worries regarding market stability and the impact of significant holders within the SHIB community.
Additionally, the prevailing bearish trend in the cryptocurrency market has further exerted pressure on Shiba Inu (SHIB) coin prices.
SHIB Token’s Market Declines After Major Sell-Off
A substantial sale of SHIB tokens has recently affected its market performance, resulting in a lackluster trading environment. Although there was a slight increase in price, trading activity fell by 32.27% within 24 hours, alongside a 1.51% decline in open interest, reflecting reduced trader participation.
- The sale of SHIB tokens resulted in diminished price and trading interest.
- A 32.27% decrease in trading volume and a 1.51% drop in open interest were recorded.
Shiba Inu (SHIB) Projected for a Significant 100% Increase in April
ChatGPT predicts a notable 100% rise in the value of Shiba Inu (SHIB) for April, indicating a potential recovery driven by market dynamics and investor sentiment.
However, the actual impact of this increase remains to be seen, considering the ongoing market volatility and substantial transactions by major holders.
- ChatGPT anticipates a 100% increase in SHIB’s value in April.
- Market dynamics and investor sentiment are crucial factors amid persistent volatility.
The Rise of Shiba Budz (BUDZ) and Its Effect on the Meme Coin Sector
Shiba Budz (BUDZ), referred to as the “SHIB Killer,” is a new player in the cryptocurrency landscape, garnering considerable attention, particularly from Shiba Inu (SHIB) investors.
With an impressive 420% increase in value, BUDZ has altered the meme coin narrative towards tokens that provide distinctive features and practical applications.
This trend underscores a wider market shift towards appreciating innovation and utility in cryptocurrencies.
As a result, the rapid ascent of Shiba Budz is influencing Shiba Inu’s market standing, as investors shift their focus to BUDZ, attracted by its potential and uniqueness, thereby impacting SHIB’s market valuation.
- Shiba Budz (BUDZ) experiences a 420% surge, posing a challenge to Shiba Inu (SHIB).
- Market trends favor meme coins that emphasize innovation and utility.
- The success of Shiba Budz diverts investor attention from SHIB, influencing its price.
Shiba Inu Price Forecast
Related Posts
Shiba Inu (SHIB/USD) is experiencing a decline, with its price falling nearly 8% to $0.000028896 in the last 24 hours. The pivot point at $0.0000295, previously a support level, now acts as resistance.
Shiba Inu (SHIB/USD) is facing a downturn, decreasing nearly 8% to $0.000028896. The pivot at $0.0000295 now serves as resistance, with additional support levels at $0.0000277 and $0.0000263. Bearish trends continue as the RSI indicates selling pressure. Monitor for possible changes at critical levels. #SHIB pic.twitter.com/fikPFEQBzN
— Arslan Ali (@forex_arslan) April 1, 2024
- Shiba Inu displays bearish momentum below $0.0000295.
- Resistance levels and RSI suggest the possibility of ongoing selling.
- Observe price movements at the $0.0000295 pivot point for market direction.
Key resistance levels are identified at $0.0000308, $0.0000328, and $0.0000348, while support is located at $0.0000277, $0.0000263, and $0.0000247. The Relative Strength Index (RSI) is currently at 38, indicating bearish momentum.
Shiba Inu Price Chart – Source: Tradingview
The 50-day Exponential Moving Average (EMA) is positioned at $0.0000300, suggesting a likelihood of continued selling pressure if SHIB remains beneath the pivot point. The breach of its upward channel indicates a bearish outlook, with the potential for further declines if the current resistance persists.
Anticipating the Future: Dogecoin20 Launch Countdown
Dogecoin20 ($DOGE20) is poised to launch on the notable Doge Day, with the presale concluding shortly. It brings Dogecoin’s cherished ethos to the Ethereum blockchain, offering eco-friendly staking and efficient transactions.
Stake and Earn with Dogecoin20: Committed to its community-first approach, 15% of DOGE20’s supply is allocated for staking rewards, promising an appealing return for early participants.
Sustainable Transactions: Utilizing Ethereum’s proof-of-stake, DOGE20 emphasizes eco-friendliness alongside secure and rapid transfers, embodying the principles of decentralization and green cryptocurrency initiatives.
Final Opportunity for Presale: With over $10 million already raised, exceeding initial goals, DOGE20 is preparing for a groundbreaking launch. Priced at just $0.00022 per token, this is your last chance to engage before it takes off.
Countdown to Launch: 20 days remaining. Prepare for the moment when Dogecoin20 goes live and staking commences.
Claim and Stake Your DOGE20: Whether you have already invested or are considering joining, get ready to claim and stake your DOGE20 as we near the highly anticipated launch day.
Presale Opportunity: Join Now!
Seize the DOGE20 Moment: Visit the official Dogecoin20 website now for your final opportunity to participate in the presale and be part of a new chapter in the meme coin narrative.
Get DOGE20 Here
The post Shiba Inu Price Prediction as Meme Coins Pump Higher – Can SHIB Reach $10? appeared first on Cryptonews.
