Can Market Trends Drive Shiba Inu (SHIB) and Floki Inu (FLOKI) to Record Highs in the New Year?

Can Market Trends Drive Shiba Inu (SHIB) and Floki Inu (FLOKI) to Record Highs in the New Year?

The Altcoin Market’s Current Position

The Total3 index is hovering around $411 billion, interacting with a whole lot of resistance level that previously acted as a barrier. Now, it’s more of a pivot area, hinting at a probable uptrend, especially for Meme Coin coins like Shiba Inu  and Floki Inu (FLOKI).

Shiba Inu  & Floki Inu (FLOKI)

Shiba Inu  has seen a dip of 4% in the past day, reflecting the broader market’s downturn. Nonetheless, regardless of the overall weekly 2% fall, the asset has managed to cling onto a 2% fortnightly gain and a notable 20% increase over the last month.  2023 hasn’t been great for SHIB – which is still down by 3% since the year began – but its prospects are looking up thanks to updates like the Shibarium network and Shib Name Service, improving transaction efficiency. Floki Inu (FLOKI) fell by 7% in 24 hours and 14% over the week. Still, like its counterpart, the Meme Coin coin has seen some recovery, boasting a 2% rise in the past fortnight and a 21% uptick in the last 30 days.

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ScapesMania: Crypto’s Bright New Star

One promising prospect amidst the market’s fluctuations is ScapesMania (MANIA). The project, with an emphasis on DAO governance and a strong community focus, promises transparency, user engagement through remarkable tokenomics, and innovation in the gaming ecological system.

Technical Analysis and Trading Scenarios

In the present technical analysis of Shiba Inu , the digital currency is trading in a tight range, nestled between a support at $0.00000685 and a resistance at $0.00000848. Should SHIB price break over $0.00000848, it can signal a shift in market sentiment, potentially driving the price towards the next resistance levels.

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Hot Take

In the dynamic altcoin landscape, Shiba Inu  and Floki Inu (FLOKI) have faced challenges recently. Nonetheless, amidst this backdrop, probable bright spots can be found in the emerging ScapesMania (MANIA), presenting a more stable and promising prospect than its Meme Coin coin counterparts. Traders are eagerly monitoring past price patterns, waiting for a decisive move while the altcoin market maintains its positive trend stance, hinting at a positive undercurrent of sentiment. With careful observation and strategic decision-making, you could capitalize on the  capacity opportunities presented by these dynamic digital currencies.

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Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.

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