Shiba Inu (SHIB) is experiencing a surge in investor interest as bullish news and an upcoming exclusive event fuel speculation of a potential price pump.
Shiba Inu continues to gain significant traction on social media as burn rates surge. This surge in activity signals an ideal moment to invest in SHIB tokens before the expected price spikes.
The Shiba Inu cryptocurrency, a community favorite, is set for exciting developments, including a major upcoming event that will be accessible exclusively through the Shiba Inu ecosystem.
For those considering increasing their Shiba Inu holdings, now is the perfect time. Investors can also consider the new P2E meme coin presale called PlayDoge for potential high returns.
Shiba Inu price prediction
The broader cryptocurrency market has experienced a downturn, with a 3% dip and the Fear and Greed Index at a neutral 41, edging towards fear. Bitcoin has fallen below the $60,000 mark, and Ethereum hovers around $2,600, signaling a bearish trend. However, hope persists in the meme coin sector, where Shiba Inu stands out.
Currently ranked 13th with a market cap of $8 billion, Shiba Inu has shown resilience. Despite a 1.4% decline on the day, it has risen 2% for the week. This 29% monthly dip presents a potential buying opportunity, especially given the coin’s 36% gain over the past year.
A closer look at the one-year chart reveals substantial gains in this cycle alone, leading to expectations that Shiba Inu could surpass its all-time high for the year and achieve a new overall record. Investors entering at the current price point could see significant returns.
Shiba Inu’s technical outlook is currently uncertain. While some indicators suggest a potential price drop, others show signs of stability. The price might find support at $0.00001350 or $0.00001100 if it continues to fall.
However, the current market conditions suggest a higher chance of the price going down rather than up. To reverse this trend, Shiba Inu’s price would need to break through a key resistance level at $0.00001655.
Despite this, some analysts view the dip as a discounted buying opportunity, particularly with the recent developments within the Shiba Inu ecosystem.
Shiba Inu bullish news and developments
K9 DAO’s partnership with Gate.io, focused on integrating KNINE into various marketing and growth activities, stands out as a significant update. This collaboration strengthens Shiba Inu’s visibility and adoption, contributing to a bullish outlook.
SHIB’s participation in major events like the Blockchain Futurist Conference also adds to the positive sentiment. The Shiba Inu team continues to make impressive progress.
You can now buy $BONE and $USDC with Visa/MasterCard on Shibarium
Try Now 👇https://t.co/sNB7bfDVtS pic.twitter.com/1KkcjnoA9U
— Shibarium Network (@ShibariumNet) August 13, 2024
The option to purchase $BONE and $USDC directly with Visa and Mastercard on Shibarium greatly improves user experience and accessibility, further boosting the project’s bullish outlook. Over the past three years, Shiba Inu’s ecosystem has expanded significantly, reaching impressive milestones.
The ecosystem now includes a diverse range of products and services, from games and NFTs to play-to-earn models. The project’s growth is evident in its statistics, with over 25 million lifetime increases, 100 million weekly media impressions, and more than 6 million followers across social media platforms.
Shibarium’s launch on the L2 blockchain, which allows faster transactions, millions of new users, wallets, reduced withdrawal times, and gasless NFT bridging, highlights the ecosystem’s ongoing success.
With a major in-person event anticipated later this year and the continued growth of the Shiba Inu ecosystem, the future looks bright for SHIB holders. Despite current market challenges, Shiba Inu’s long-term outlook remains bullish.
If you’re looking for investment opportunities that could offer big returns and increase in value during the next bull run, check out our guide here for the best crypto presales of 2024.
Altcoin with Play-to-Earn features – PlayDoge
The new meme coin PlayDoge (PLAY) is gaining attention in its presale, raising over $6 million so far. $PLAY tokens are now available for just $0.00529 each. However, this price will increase as the presale progresses, so early participation is encouraged.
While PlayDoge honors the top meme coin, Dogecoin, it’s gaining popularity for a different reason: Play-to-Earn (P2E) gaming. In the 90s, long before the concept of “going viral” existed, a handheld pet companion game captivated the world.
This game, Tamagotchi, offered a glimpse into the future. Teenagers couldn’t get enough of it, endlessly tapping away in excitement. Tamagotchi went on to sell 82 million copies, creating cherished memories for many millennials who grew up playing it.
Created in Japan, Tamagotchi featured charming pixelated graphics, where players cared for a virtual pet, ensuring its happiness, health, and entertainment. If the pet ran away or died, the game would restart, creating an addictive experience that kept players coming back.
PlayDoge revives that excitement with a new P2E version, allowing users to relive their childhood gaming experiences while earning money. It’s no surprise that the PlayDoge presale has gained significant traction.
Additionally, PlayDoge provides traders with an extra way to earn crypto through staking. The staking feature is live and offers a 76% APY, which is roughly 10x higher than staking ETH or SOL.
Members of PlayDoge’s Telegram channel view this low token price as a limited-time opportunity to get in early. With DEX listings planned after the presale, they believe $PLAY’s price will continue to rise.
Considering PlayDoge’s early presale success, unique P2E game, and growing online community, it seems to have a strong chance of reaching a dollar. For the latest updates, follow PlayDoge on X or join its Telegram.
Visit playdoge.io to participate in the $PLAY token presale.
Related
- Shiba Inu’s Rising Burn Rate Could Propel Price to $0.001 as P2E Meme Coin Presale Reaches $6 Million
- Market Rebound Sparks Optimism for Leading Meme Coins – PlayDoge, TOPG1500, Base Dawgz, and PeiPei
The post Shiba Inu Price Prediction – Could SHIB Bullish News Fuel a Massive Pump? appeared first on ReadWrite.
