Shiba Inu (Shib), the Ethereum The ERC-20 crypto token issued by the blockchain that powers the Shiba Inu Web3 ecosystem continues to struggle to gain traction with prices hovering just above $0.000010 under the 200-day moving average.
As a result, near term price prediction Be pessimistic.
Shiba Inu It is trading below the $0.0000096-1170 range it has been stuck in since early March, recently breaking south of an uptrend that has been in play since late December 2022.
Together Shiva It is trading below all of its major moving averages and after breaking above its 2023 uptrend, there are increasing chances of a break below the mid-$0.000009 support.
This could open the doors for a move back towards last December’s low in the $0.000008 area.
It remains to be seen whether optimism about upcoming upgrades to the Shiba Inu ecosystem, such as the upcoming launch of the alpha version of the Shiberium layer-2 scaling solution and SHIB: Metaverse later this year, and about Shiba Inu Adding to the optimism the earnings program of neo-banking crypto application Blockbank could lift sentiment.
time to buy?
The Shiba Inu is at downside risk in the near term, suggesting that potential investors who exercise some patience may be able to wait and secure a more favorable price in the coming weeks.
But in the grand scheme of things, SHIB’s price remains very depressed relative to its 2021 peaks, so even if investors bought now, they’ll arguably still be buying the dip (in the long term anyway).
Of course, this is assuming that the Shiba Inu achieves a solid recovery during the upcoming bull market.
Its struggle to keep pace with other major blue chip currencies like bitcoin and ether in recent months is a troubling sign that meme coin may not do too well during this bull market.
But as the Shiba Inu development team continues to expand Meme Coin’s Web3 ecosystem, thus adding utility to the token, that should boost its valuation, at least in the long run (allowing the growing Web3 ecosystem to attract a growing user base). doing).
Love Hate Inu – Shiba Inu Alternatives To Consider
While the blue-chip prefers cryptocurrencies Bitcoin While it could continue to perform well in the months and years to come, investors should always be on the lookout to diversify their crypto holdings.
One high-risk-high-reward investment strategy that some investors may consider is getting involved in crypto presales.
This is where investors buy tokens of up-start crypto projects to help fund their development.
These tokens are almost always sold very cheaply and have a long history of pre-sales providing huge exponential returns to early investors.
Many of these projects have great teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their pre-sale investment is great.
The Cryptonews team spends a lot of time on pre-sale projects to help investors.
One project the team is a huge fan of right now is Love Hate Inu, which is currently in the process of conducting a highly successful pre-sale.
Love Hate Inu is building a revolutionary new Shiba Inu dog-meme-themed, blockchain-powered social media voting platform.
Platform users will have the opportunity to debate and discuss the world’s most controversial topics and figures, including the likes of Elon Musk, Donald Trump and Andrew Tate.
$LHINU token owners will have the opportunity to stake their tokens and will have the right to vote in various elections and will then be rewarded for voting with more LHINU tokens.
That’s why this platform is being called stake-to-earn and vote-to-earn.
In just a few weeks, Love Hate Inn has raised $8.2 million to date and has already entered its seventh phase of pre-sales.
Still, bullish investors can secure the coin for $0.000135 before it enters its final phase of the pre-sale and takes the price up to $0.000145.
Observers believe that Love Hate Innu’s innovative blockchain-based voting system could catch fire later this year when the platform is released, potentially launching LHINU’s token at a significantly higher current pre-sale price. May go.
Some have even suggested that Love Hate Inu could one day rival the likes of major meme coins such as Dogecoin and Shiba Inu, thanks to the better-defined utility of meme coins.
