Dogecoin Price Prediction As Shiba Inu Dog Neiro Replaces The Late Kabosu And This SHIB 2.0 ICO Goes Parabolic
Release: 2024/07/30 22:14 Reading: 941
Dogecoin Plummets as Neiro-Themed Tokens Flood Market
Over the past 24 hours, the value of Dogecoin (DOGE) has plummeted by over 3% to trade at $0.1292 at 7:35 a.m. EST. This downturn is attributed to investors selling their DOGE holdings amid the emergence of numerous meme coins inspired by the adoption of a new Shiba Inu named Neiro.
Following the announcement of Neiro's adoption, a flurry of Neiro-themed tokens were created on Solana's "Pump.fun" token generator. One such token rapidly surged to a market capitalization of tens of millions of dollars, prompting a sell-off as traders discovered the existence of an earlier-launched token.
This surge in activity surrounding Neiro tokens has propelled Solana to the forefront of blockchain activity, surpassing even Ethereum's on-chain volumes. Data from DefiLlama reveals that Solana processed $1.8 billion in trading volumes on Sunday and Monday, while Ethereum handled less than $1 billion.
Dogecoin Trapped in Sideways Channel
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Technical indicators on DOGE's 4-hour chart suggest a potential bullish trend reversal. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators point to diminishing sell pressure. The leveling off of the MACD Histogram slope and narrowing gap between the MACD and MACD Signal lines indicate a potential bullish reversal.
Meanwhile, the RSI has stabilized in the low 40s, signaling a neutral sentiment. This could pave the way for buyers to regain the advantage from sellers.
Investors Flock to Shiba Shootout
As Dogecoin struggles to break out of its bearish trend, investors are turning their attention to Shiba Shootout (SHIBASHOOT), a project endorsed by YouTuber Austin Hilton. SHIBASHOOT aims to capitalize on the blockchain gaming industry with a play-to-earn game where players engage in exciting gun battles in the digital Wild West.
Listed on Google Play and the Apple App Store, Shiba Shootout is accessible to players seeking rewards. Its simple gameplay and engaging characters have garnered positive feedback.
Fast-Approaching $1 Million Milestone
Over $850K has flowed into SHIBASHOOT's ongoing ICO, with a potential 1,121% APY available for early investors who lock up their tokens. Investors have a limited time to purchase SHIBASHOOT at ICO prices, as a price hike is expected in less than 4 days.
Disclaimer:
The content provided in this article should not be construed as financial advice. Conduct thorough research before making any investment decisions.
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