The price of Shiba Inu (SHIB) fell to $0.00001030 today, down 1.5% over the past 24 hours as the cryptocurrency market declined by 1% overall.
SHIB’s current price means it is down 11% in one week and 3% in the last 30 days, although the MIME token is up 27% since the start of the year.
It is also encouraging to note that the coin’s 24-hour trading volume has begun an upward trend again, surpassing $100 million in the past day, in a sign that positive volatility is re-entering the picture. Can do
And in the longer term, as Shiba Inu also awaits the full public launch of layer-two network Shiberium, SHIB could see some big rallies along the way.
Shiba Inu Price Prediction as $100M Trading Volume – Are Whales Buying?
The encouraging thing about SHIB’s chart is that it shows a coin that is close to bottom, at least judging by the current state of its indicators.
SHIB’s 30-day moving average (yellow) is nearing a break below its 200-day average (blue), while its realized price has fallen below both indicators, indicating that it is becoming oversold.
Similarly, its Relative Strength Index (purple) is just below 40 and on its way to 30, at which point the coin will be due for an upward correction.
Of course, this may not happen now, with the continued decline of SHIB’s support level (green) indicating that it could push the price lower for at least a few more days.
Nevertheless, the broad outlook for SHIB remains positive, especially with its steady rise in trading volumes pointing to an eventual rally.
It also seems likely that whales may have started hoarding SHIB, given that Mem tokens are of little value right now.
If so, then the coin may not be far from a recovery, something also suggested by the impending full public launch of Shiberium, the layer-two network of the Shiba Inu.
The latest data shows that Shiberium’s beta continues to attract a lot of testers and developers, with the testnet seeing over 400,000 transactions per day as well as 14 million wallet addresses.
This highlights the keen interest in the shibarium, which could result in a large increase in the use and adoption of the Shiba Inu, as well as in the general development of its ecosystem.
On top of this, Shiberium will also result in more SHIBs burning, as confirmed by the development team of the layer-two network.
As the supply of SHIB is likely to be restricted after the launch of Shiberium, SHIB could easily rise to $0.000015 in the following weeks, before moving higher to $0.00002, $0.00003 and higher.
and in the long term, the introduction of Shib: The Metaverse Will drive demand for the SHIB, helping to push its price up even further.
New meme token alert: love hate inu
The thing with SHIB is that holders may be waiting a while for the full launches of Shiberium and SHIB: The Metaverse, which means the really big rallies may still be some time away.
Therefore traders may like to look at other new meme tokens love hate inu Arguably the strongest fundamentals of any such coin in the market right now.
Its LHINU token pre-sale raised nearly $6 million, a very bullish figure for new pre-sales.
Running on Ethereum, Love Hate Innu is a decentralized voting platform that will reward users (in LHINU) for participating in polls and surveys.
These polls and surveys will tap into a wide range of topical and topical issues, helping Love Hate Inu to attract a strong following of users and community.
It will also be helped by the meme-based nature of the platform, which will seek to harness the virality of social media to grow its user base beyond any other comparable polling ecosystem.
Users will be able to participate in elections by staking their LHINU, with a higher voting weight for those with larger stakes of the token.
so far, love hate inu Has already attracted over 33,000 followers on TwitterThis provides some indication of how large its user base could be once it launches its platform in the next few months.
Investors can participate by visiting its presale Official Love Hate Innu WebsiteWhere they can use USDT, ETH, BNB or fiat currency to buy altcoins.
The sale is now in its sixth phase, with one LHINU token priced at $0.0000125, though it will rise again to $0.0000125 in ten days.
This gives traders a limited window of opportunity in which to obtain some LHINU at the cheapest possible discount, before the coin lists on exchanges and potential rallies.