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Shiba Inu (SHIB) has seen renewed market interest as whale activity increases, sparking optimism for a possible price rise. While the memecoin ecosystem remains volatile, SHIB’s recent surge in large transactions has attracted investor attention, building confidence in its potential to maintain a positive trajectory.
SHIB Key Statistics
- Current price: $0.0000190
- Market capitalization: $11.25 billion
- Trading volume (24h): $717.80 million
- Circulating supply: 589.27 trillion SHIB
- Total offer: 589.52 trillion SHIB
- CoinMarketCap Ranking: #12
Over the past 7 days it has increased by 5.30%, while over the past 30 days it has seen a slight increase of 0.65%. Looking at 90-day performance, SHIB is up 19.03%, and year-to-date, it has surged 76.45%.
SHIBUSD Market
Key levels:
- Resistance: $0.0000195, $0.0000210, $0.0000250
- Support: $0.0000170, $0.0000150, $0.0000140
On the daily chart, SHIB/USD appears to be riding a bullish wave, supported by a break above the 20-day simple moving average (SMA). Bollinger bands, a volatility indicator, display gradual expansion, which usually signifies a potential price breakout. SHIB is currently trading near the upper band of the Bollinger Bands, suggesting strong upward pressure. However, if SHIB is rejected at this level, consolidation around the midline of the bands (the 20-day SMA) could be expected.
SHIBUSD’s Relative Strength Index (RSI) stands at around 62, reflecting moderate buying pressure but not yet in the overbought zone. This RSI level often indicates room for further upward movement before encountering significant resistance due to oversold conditions. If buying volume increases, SHIB could rise above its immediate resistance at $0.0000195 and aim for the next targets of $0.0000210 and $0.0000250. Conversely, a retracement towards the lower Bollinger band near the $0.0000170 support could provide a reaccumulation opportunity.
Whale activity builds confidence in SHIB
A recent increase in whale transactions, from 895 billion SHIB on October 27 to an astonishing 3.73 trillion SHIB on October 28, has fueled increased interest in the Shiba Inu. This spike, coupled with 170 whale trades in 24 hours, highlights the growing confidence of large investors. Whale activity in memecoins often signals strong market interest, as large-scale transactions can bring stability or even trigger price increases.
Shiba Inu is on the rise
SHIB’s notable achievement surpassing Avalanche (AVAX) in terms of market capitalization, making it the 12th largest digital asset, further solidifies its influence in the crypto space. As investor sentiment strengthens around SHIB, this could pave the way for sustained momentum and a near-term bullish outlook.
SHIBBTC Performance Overview
In the SHIBBTC pair, currently priced at 0.000000000263 BTC, the Bollinger Bands reveal an interesting tightening pattern, which usually precedes a breakout. SHIB is trading near the upper Bollinger band, suggesting an uptrend. Immediate resistance for SHIBBTC stands at 0.000000000269 BTC, while immediate support level can be found at 0.000000000249 BTC. If SHIBBTC manages to break above the resistance at 0.000000000269 BTC, it could see significant upside against Bitcoin, drawing more attention to SHIB in the broader crypto market.
In a recent article on X by @MEME.nto, Shiba Inu revealed an exciting Shibarium upgrade designed to improve the Shiboshi NFT community experience. This update brings exclusive utility improvements that could potentially influence SHIB’s market performance, adding a new layer of functionality and appeal to the ecosystem. Enthusiasts are eager to see how this will shape SHIB’s future journey.
Shiba Inu Unveils Shibarium Upgrade for Shiboshi NFT Community! 🚀🔥 Don’t miss this exclusive utility boost in #crypto #cryptocurrency #cryptonews #SHIB #Shibarium.
– MEME.nto (@MEME_nto_crypto) October 29, 2024
Alternatives to Shiba Inu
Shiba Inu (SHIB) is a meme coin backed by a vibrant community and expanding ecosystem, including the ShibaSwap DEX and governance features through BONE. It aims to enhance its utility with the Shibarium Layer-2 blockchain, supporting decentralized applications, NFTs, and metaverse initiatives. Similarly, emerging coin project Pepe Unchained ($PEPU) is poised to capitalize on the growing momentum in the blockchain sector.
Pepe Unchained recently celebrated an impressive presale, raising over $23.3 million, highlighting strong investor confidence in the project. This significant funding milestone not only highlights the excitement surrounding $PEPU, but also positions it as a serious contender in the meme coin market. The $PEPU token runs on its own layer 2 blockchain, designed to free PEPE from the limitations of the outdated Ethereum blockchain.
Unlock the potential of Pepe Unchained: a presale Gem
This new infrastructure promises to offer transaction speeds up to 100 times faster than Ethereum, as well as significantly reduced gas fees, making it an attractive option for users and developers. The focus on improved performance and reduced costs could significantly contribute to the project’s growth and adoption in the competitive cryptocurrency landscape. The future looks bright for $PEPU.
Visit Pepe Unchained.
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