Shiba Inu Coin Price Soars 18% As Analysts Say This 2.0 Meme Coin Might Be The Best Crypto To Buy Now

The Shiba Inu coin worth has jumped by 17.8% within the final 24 hours to commerce at $0.0000272 as of 5:00 a.m. EST. 

The SHIB worth pump got here amid a brand new eruption of meme coin mania after the Bitcoin halving, which has seen BONK, FLOKI, PEPE, and SHIB emerge as in the present day’s high gainers.

Snap | Supply: CoinMarketCap

Worldwide DOGE Day was additionally celebrated on April 20, offering one other increase for meme cash.

Shiba Inu Coin Worth Prediction: SHIB Retests Earlier Resistance Ranges

Taking a look at Shiba Inu charts, we discover that Shiba Inu had been buying and selling inside a consolidation space, the place the worth motion skilled restricted volatility and moved sideways.

Subsequently, there was a breakout from this consolidation zone, the place the Shiba Inu worth moved sharply towards earlier resistance ranges, attributing to in the present day’s worth surge.

The Shiba Inu worth seems to have retested a earlier resistance space because it exhibits indicators of a pullback, as evidenced by the newest pink candlestick patterns. These patterns recommend promoting strain.

Taking a look at indicators, we see the Relative Power Index (RSI) is displaying a price near 80, which is in overbought territory. It’s now headed again south suggesting an overextended market as holders now take earnings, inflicting promoting strain.

The Superior Oscillator (AO) exhibits diminishing inexperienced bars which have now turned pink. This variation in momentum signifies a shift from a bullish to a bearish sentiment amongst merchants.

If the promoting strain continues, we may count on the worth to fall in the direction of the higher boundary of the earlier consolidation space, doubtlessly in search of assist. Nonetheless, ought to the Shiba Inu worth discover assist at present or barely decrease ranges, one other try to interrupt by way of the resistance space might be seen.

1-hour SHIB/USD Chart | Supply: TradingView

In the meantime, because the Shiba Inu worth exhibits indicators of downward motion, meme coin lovers would possibly need to contemplate Sponge V2, which is providing a final probability to purchase earlier than it lists on top-tier exchanges.

A Promising Various?

Sponge V2 is the successor to Sponge V1, which chalked up 100x good points final yr in a bear market. It was discontinued in early February as its developer sought to improve it by way of the brand new Sponge V2 token.

📣 Consideration, #SPONGERS!

Right here is a few necessary data to recollect about $SPONGE V2!$SPONGE V1 has formally been discontinued, and V2 has been launched on #Polygon! 🔥

Study extra in regards to the token particulars beneath 👇https://t.co/TCdxgXx40w

🧵1/3 pic.twitter.com/YZzXOlKmHY

— $SPONGE (@spongeoneth) February 6, 2024

Sponge V2 is obtainable on Polygon and Ethereum and presents staking returns of 164% on Ethereum and 348% on Polygon. Greater than 9.842 billion tokens have been staked up to now.The mission has additionally sped up the beginning of a totally decentralised Play-to-Earn (P2E) sport.

Sponge V2 is ranked as a possible game-changer with 1000x potential, and Crypto YouTuber Jacob Bury says it is likely one of the greatest meme cash to purchase now as he additionally predicts it has the potential to soar 1000x on launch. 

The presale may finish at any time, so if you’re purchase quickly. 

Go to the official Sponge V2 web site to purchase tokens right here.

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