Shiba Inu Price Shows Signs of Significant Increase
Release: 2024/08/22 23:51 Reading: 900
Shiba Inu Price Poised for Notable Surge
The price of Shiba Inu (SHIB), a prominent meme coin, has exhibited a surge amid the recovery in the broader cryptocurrency market. This positive trend has also favorably impacted SHIB, showcasing a promising outlook for potential gains.
Shiba Inu's Support
A week prior, Shiba Inu's official Twitter account extended support to NEIRO, an emerging dog-themed meme coin. Notably, NEIRO is believed to have connections with the creators of Dogecoin, establishing a connection to the genesis of dog-based cryptocurrencies.
This support has fueled speculation about a potential collaboration between Shiba Inu and NEIRO, which could have significant implications for its market valuation.
Price Analysis
Over the past 24 hours, Shiba Inu's price has demonstrated a bullish trend. It has been trading between $0.00001421 and $0.00001355, with $0.00001415 serving as a consistent support level. A 3.57% increase on Thursday further solidifies its upward momentum.
Shiba Inu's price currently faces resistance at $0.000015. A successful breakout above this level could propel its price towards $0.00002. Consequently, a rise above $0.00002 could pave the way for a return to $0.00003, marking a significant short-term gain for SHIB investors.
Technical Indicators
The Moving Average Convergence Divergence (MACD) indicator displays an upward trend, with the MACD line (blue) recently crossing above the signal line (orange). This technical signal suggests the potential for further upward momentum in the near term.
Support and Resistance
If SHIB fails to overcome the resistance at $0.000015 and its downward trend persists, its price may retreat back to support around $0.000014. Adverse market conditions could even trigger a decline to $0.000013.
Conclusion
Shiba Inu's price surge, supported by broader market recovery and its collaboration with NEIRO, presents a positive outlook for potential price increases. Technical indicators further enhance this bullish sentiment, indicating the likelihood of continued upward momentum. However, traders should exercise caution, as the price may face resistance or encounter unfavorable market conditions.
Recent news
More>- Homosexual Pepe Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- BTFD Presale Captivates Investors in the Best New Meme Coin Presales for Significant Returns as PEPE and SPX6900 Dominate the Scene Fuel the... 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- The Metrics Pointing to Massive Potential for WIF, JASMY, and PEPE in 2025 01-01
- BTFD Coin’s Presale is Unmissable Amid Pepe and Moo Deng’s Crypto Hype: Best Meme Coin Presales to Join This Week 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- Crypto Gems for the Next Quarter: Top 5 Tokens to Watch 01-01
- Why $PEPE Jumped 20% Today And Which Coin Could Be Next 01-01
- Best New Meme Coins to Join for Short Term: BTFD Raises $4.7M in Presale as BONK Boasts Low-Cost Transactions and PEPE Enjoys Steady Followi... 01-01
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Smart $Pepe trader makes $11.7M profit during Market Drop
- 10 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com