Shiba Inu Struggles as SHIB Price Falls
Shiba Inu’s performance is currently struggling, with the price of SHIB falling by 11% after being rejected from upper trendline resistance. This has led some holders to question if SHIB is going to zero. The downward movement has resulted in a significant amount of SHIB being moved on-chain.
Large Amounts of SHIB Tokens Moved On-Chain
A massive 4.2 trillion SHIB tokens were recently transferred between unknown wallet addresses, indicating a private self-custody move. This is one of the largest whale movements in recent Shiba Inu records and has caused concern among the market.
SHIB Price Analysis: Is Shiba Inu Going to Zero?
The rejection from upper trendline resistance has caused the price of SHIB to consolidate at lower support levels. While there is a potential for a major retracement, there is also support at the 20DMA and 200DMA levels. The RSI indicator suggests a potential bounce, and there is minor bullish divergence on the MACD.
Meme Kombat Blasts Past $3.7M In Skyrocketing Presale
Meme Kombat is a decentralized Web3 platform that combines nostalgic gaming with GambleFi. It allows players to bet on animated battles between meme characters and offers attractive rewards. The project has raised over $3.7 million in its presale and promises exciting gameplay with transparent outcomes.
Meme Kombat Pits Leading Crypto Meme Communities in High Octane Staking Battles
Meme Kombat’s commitment to transparency is evident through initiatives like an impending security audit of its smart contract. The founder, Matt Whiteman, brings credibility to the project with his experience and open profile. The tokenomics of Meme Kombat, including a generous APY and dual functionality, make it an appealing investment opportunity.
Hot Take: Shiba Inu’s Future and the Rise of Meme Kombat
While SHIB may face challenges in its price performance, it is unlikely to go to zero. The consolidation at lower support levels and potential for a bounce suggest that there is still upside potential for SHIB. However, traders looking for more certain gains are being drawn to Meme Kombat, which has seen significant success in its presale and offers a unique combination of memes, gaming, and blockchain.
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