Shiba Inu Coin Price Prediction: SHIB rises 16% due to surge in whale activity; ICO of this SHIB-derived meme coin surpasses $500,000

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Shiba Inu prices surged 16% in the past 24 hours to $0.00001719, while trading volume dropped 10% to $424 million as of 6:30 PM ET. This pump follows a surge in Shib whale activity in the past 24 hours. According to IntoTheBlock data, during this period, large Shib trading volume increased by more than 176% to 4.18 trillion Shib, worth $62.57 million. This surge suggests that Shib whales are either accumulating or transferring large amounts of Shib.
Shiba In Price: Is it time to buy SHIB? According to GeckoTerminal, Shiba Inu price has recovered from the lower trendline of the falling wedge pattern, suggesting that bulls are in control and are ready to push prices higher. If the daily candle opens above this trendline, it could help bulls initiate a rally inside the wedge pattern that could see new highs in the coming days.
Furthermore, bulls need to push the price above the 50-day and 200-day simple moving averages (SMAs), which are currently acting as immediate resistance. Overcoming these levels could empower bulls to push the price higher, with the potential to cross the 50-day and 200-day SMAs. A golden cross occurs when the 50-day SMA crosses the 200-day SMA above $0.00000831, further signaling the continuation of this bullish trend.
Further strengthening the bullish momentum, the data from the Relative Strength Index (RSI) showed a rebound from the oversold level of 30 and is currently hovering around the mid-line of 50. As the RSI continues to rise, the bulls have the opportunity to push it towards the overbought level of 70.
Shiba Inu price prediction in the short term will closely watch how whales strategically accumulate SHIB, possibly in anticipation of future price increases, taking advantage of current market dynamics. In this case, SHIB could be targeting the next significant threshold in the $0.000015 to $0.000019 range.
Moreover, all indicators are pointing towards a bullish reversal. If the bullish momentum sustains above $0.00002410, the bulls are likely to recapture its previous high at $0.00004197. However, resistance at this level is likely to attract seller interest that could result in a pullback to the previous support level of $0.00001486.
Is this the next Shiba Inu? Meanwhile, as buyers flock to the Shiba Inu, interest is surging in a new Shiba derivative called the Shiba Shootout (SHIBASHOOT), which has surpassed $500,000 just days after its launch.
The story of SHIBASHOOT involves Marshal Shiba, a legendary and witty figure who roams the digital plains, summoning Shiba Inu fans for an epic showdown. His mission is to ensure that Shiba Showdown reigns supreme in the wild west of crypto.
SHIBASHOOT will be launched on Ethereum and BNB Smart Chain, supporting ERC-20 and BEP-20 standards. Detailed information can be found in the Shiba Shootout Wiki.
Get your gear ready! #ShibaShootout is more than just a #memecoin, it's a Wild West adventure! Join Marshal Shiba and the shooters for fun and excitement in Shiba Gulch. pic.twitter.com/a3BFVx7u42 — shibashootout (@shibashootout) July 1, 2024
With 20% ($440M SHIBASHOOT) of the total token supply dedicated to staking rewards, you can earn an astounding 19,87% annual return by staking your tokens, ensuring you a spot around the campfire. SHIBASHOOT has already caught the attention of crypto experts like Jacob Crypto Bury, a well-known YouTuber with over 41,000 subscribers. Bury speculates that the project has the potential to skyrocket 10x after launch, similar to the trajectory of Shiba Inu itself.
You can buy SHIBASHOOT tokens for $0.0195 on the official website. Prospective buyers should not wait too long as the price will rise in less than 7 days. Buy SHIBASHOOT now with ETH, USDT, BNB or bank card. Related articles: BABY BEERCOIN Price Prediction: BBEER Plummets 61%, This New AI Meme Coin Is Close to $6 Million5 Major Cryptocurrency Presales for 2024: Revealing the Most Anticipated Opportunities! A Detailed Guide to Safely Buying Cryptocurrency in 2024PlayDoge (PLAY) — Rating of the Latest ICO on BNB Chain

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