The price of the Shiba Inu hung in the balance following the news that Pumpkin, the original dog behind the meme coin, is unwell. The dog’s condition touches the community, with most wishing him a speedy recovery. Some enthusiasts are offering to pay for the dog’s medical expenses.
Shiba Inu Price Prediction with SHIB in Buy Zone
The price of Shiba Inu, like its market counterparts, is in the red before the New Year. The buyers have set up camp at $0.000008 as SHIB shakes hands at $0.00000830. There could be a rebound from the demand area between $0.00000771 and $0.00000822.
Following the recent oversold conditions displayed by the Stochastic Oscillator, the Shiba Inu price may pick up recovery momentum. Furthermore, the extended downtrend in 2022 SHIB has formed a falling wedge pattern, suggesting a trend reversal.
A falling wedge is a bullish pattern, which means that an upward move is on the horizon. traders have to wait Shiba Inu Break of the upper trend line to confirm a 66% move at $0.0000015. This target is often precise and predetermined by measuring the distance between the largest points extrapolated from the breakout point.
Investors are buying SHIB now that the market value realized value (MVRV) is at -6.81%. The sentiment underlines that an MVRV reading of less than 1 means that SHIB is trading below the fair market value. Furthermore, investors prefer to hold their coins until the ratio is above the mean line at 1.
As demand builds up behind the token, a recovery is certain to boost profit booking. An MVRV ratio above the mean line indicates that SHIB has returned above its fair market value.
SHIB is wasting no time finding whale and shark addresses based on blockchain data from Sentiment. As seen below, addresses with coins between 1M and 10M now account for 0.985% of the total Shiba Inu supply, up from the 0.963% recorded on December 1st.
Addresses have reflected a similar growth pattern with 10M to 100M. This investment category holds 0.204% of the supply of SHIB, up from 0.201% over the same period. This increase in demand for Mim Coin shows that investors have a long-term positive outlook on Shiba Inu price. Therefore, retail investors can consider returning to the market and not be bothered by the endless crypto winter ahead of a possible rally in 2023.
Is The Shiba Inu Price Rally Imminent?
Reversing the upward trend may take longer given the 71.26% drop in Shiba Inu price network burn rate, According to Shibburn.com, 12 million SHIB tokens have been removed from supply in 24 hours.
The token burn drive has removed 410 trillion from the circulating supply. Shiba Inu has a total supply of 562 trillion with 562 trillion in circulating supply and 26 trillion in staked supply.
Though the burn rate has stalled in the last 24 hours, it is likely to pick up pace in the new year. In addition, the ecosystem is looking forward to launching Shiberium; A protocol focused on enabling faster and cheaper transactions.
Shiberium’s release date has been postponed several times this year, but the network’s lead developer recently confirmed that it could launch in the first quarter of 2023. Investors expect the launch of Shiberium to drive up the Shiba Inu’s price. Hence, investors can take advantage of the lower SHIB price ahead of a possible bullish move.
Shiba Inu Alternatives That Promise Quick Profits
Shiba Inu price has the potential to rally in the first quarter of 2023. However, investors may be interested in new projects in their pre-sales. The tokens listed here demonstrate strong fundamentals, rallying after their initial exchange listings. Some, such as Dash 2 Trade (D2T), will start trading in January and are ahead of the roadmap development schedule.
Fightout (FGHT)
FightOut is a new crypto project that hopes to redefine the fitness lifestyle keeping in mind the Web3 era. It’s a Move-to-Earn (M2E) app with gym chains that transform the fitness lifestyle. Users in the ecosystem are rewarded for completing predetermined workouts and challenges while earning badges and growing within the dynamic community.
A tokenized economy will help drive the ecosystem where users earn FGHT tokens for completing M2E tasks.
FightOut’s pre-sale is underway and has raised over $2.4 million. For purchases made before $5 million, the team is offering a 50% bonus.
Dash 2 Trade (D2T)
First on the list is Dash 2 Trade, an Ethereum-based crypto project that provides users with world-class crypto analytics and social trading features. Dash 2Trade makes it easy to build trading strategies and back-test them using accurate data – on-chain and off-chain.
D2T token is Empowering this ecosystem by giving users access to all services such as signals, trading tools and social trading features. The pre-sale has raised over $9.9 million and is now in the final stages.
C+ charge (CCHg)
It is a robust peer-to-peer (P2P) payment system for EV charging stations developed by C+Charge using blockchain technology. Individual electronic wallets will be given to users, who can use the wallets to pay for EV charging along with C+Charge utility tokens.
Drivers will use the CCHG token to pay for EV charging services. Operators of charging stations will also receive payment through the same token.
The C+Charge pre-sale recently launched with the first phase raising $29,000. Investors can buy 1 CCHG for 0.013 USDT, but the price will move up to 0.0165 USDT in the next round.
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