‘SHORK’ Token Soars 15,000%, Attracting Attention from Traders for Potential Price Increase Within 24 Hours

The shark-themed SHORK has surged to become the top-performing Solana meme coin in today’s market, but could another cryptocurrency be on the verge of a similar breakout?

This article will analyze the current price movements of SHORK and explore whether the innovative multichain token, Dogeverse, presents a more attractive investment opportunity at this moment.

For those curious, yes, I am managing the @shork_coin Twitter account

All positive vibes, no current holdings (this may change soon)

You are in capable hands, friends

Let’s #shork

— Gannon Breslin (@gannonbreslin) April 12, 2024

The SHORK token seems to have been launched by serial entrepreneur Gannon Breslin, who is affiliated with the HeniousPumps newsletter.

SHORK Price Analysis: Is Shork Coin On The Brink of a Second Rally?

As the price action trends upward once again, SHORK is currently valued at $0.035, reflecting a 24-hour change of +15,030%.

This follows the token’s launch at Midnight UTC during a DEX listing on Raydium, where it quickly gained momentum, experiencing a price increase of +10,000% within the first three hours.

Resistance at $0.062 caused the price to drop into a strong consolidation phase above lower support at $0.0225, setting the groundwork for a potential move towards SHORK’s current all-time high of $0.067.

However, after the all-time high provided +50,000% returns to SHORK holders, early investors opted for a quick sell-off around 6 AM UTC, causing the price to retreat back to support.

Nevertheless, contrary to expectations, the support level has been effectively defended by holders, and SHORK’s price is once again on the rise, hinting at the possibility of a second rally.

The erratic price movements have been driven by substantial interest from retail investors, evidenced by a notable $58 million in 24-hour trading volume.

Currently at a $41 million market cap, interest may begin to fade, with the potential for significant returns for late-stage investors reduced to a modest 5x expectation at these levels.

Interestingly, despite having over 8,000 holders, bulls remain dominant, with buying pressure accounting for 51% of transactions in the past hour.

In other developments, a multi-chain dog-themed cryptocurrency is gaining attention after achieving viral success during its presale, promising to unify DOGE across different chains.

Introducing the Omnichain Dogeverse: The New Contender

Branded as the “chain traveling Doge,” Dogeverse boasts multi-chain capabilities across major networks such as Ethereum, BNB Chain, and Solana, positioning it as a versatile player in the meme coin space.

With 15% of its total supply of 200 billion tokens available at an initial price of $0.000292 each, early investors have the potential for substantial gains.

The project’s framework and potential for high returns, including an impressive +582% APY for stakers, highlight its ambitious roadmap.

Beyond its playful exterior, Dogeverse offers genuine utility, facilitating seamless integration across various blockchain platforms—this feature not only improves accessibility but also provides added convenience for investors.

Buy Dogeverse Here

The post ‘SHORK’ Token Surges 15,000% and Now Traders are Monitoring This New Coin Poised for a Price Increase in 24 Hours appeared first on Cryptonews.