Shiba Inu has experienced a 4% increase in its price, reaching $0.00002589, as the overall crypto market has seen a 1% gain in the past 24 hours. Over the past week, SHIB has increased by 13.5%, and while it has decreased by 13% in a month, it has shown a significant 145% return in the past year. Momentum for SHIB continues to build after developers announced funding for a new layer-three network, leading to expectations of continued gains in the next few days. With the wider market expected to make a strong comeback in the coming months, SHIB should appreciate significantly in the medium and long term.
Today’s market activity suggests a possible recovery for SHIB, with the coin likely to make up for recent losses over the weekend. The relative strength index for SHIB has risen to 50 after dropping to 30 in previous days, indicating a return in momentum with room for further growth. Additionally, the 30-day average for SHIB has stopped declining and appears poised to rise above the 200-day average, signaling that the growth trend initiated last weekend may continue. Despite modest trading volume, around $800 million, SHIB’s resistance and support levels are converging, which could lead to a strong move in the near future. Recent large transfers of SHIB suggest ongoing developments in the coin’s ecosystem, such as the funding of a new layer-three network focused on privacy.
Shiba Inu’s ecosystem and utility for investors are evolving, with the coin’s layer-two network Shibarium processing over 400 million transactions and hosting 1.7 million addresses to date. These developments indicate a positive trajectory for SHIB, with sustained growth expected to align with the broader market. Price predictions for Shiba Inu suggest the coin could reach $0.00004 by summer and climb to $0.00006 by the end of the year. While SHIB shows promise, other meme coins in the market could also see significant gains, including Dogeverse (DOGEVERSE), a multi-chain meme token that has raised over $11 million in its presale. DOGEVERSE plans to launch as the first Doge-themed multi-chain cryptocurrency, running on multiple chains to attract greater use and adoption. The token’s hard cap of 200 million tokens and staking opportunities could contribute to its price growth over time.
Investors interested in DOGEVERSE can participate in its presale, with the current price at $0.000302 expected to rise to $0.000304 in a day. However, the token is likely to increase in value once it lists, making early investment advisable. While the future looks promising for Shiba Inu and other meme coins, it is crucial to remember that crypto is a high-risk asset class, and investing in these assets carries the risk of losing all capital. This article provides information for informational purposes only and does not constitute investment advice. Interested parties should conduct thorough research and consider their risk tolerance before investing in cryptocurrency.
