Shiba Inu Price Update
The Shiba Inu price has increased by a mere 2% in the last 24 hours, reaching a trading value of $0.0000082 as of 11:00 a.m. EST. However, data from Shibburn reveals that 173,118,154 SHIB tokens have been moved to dormant wallets, indicating a significant 12,840% increase in the past 24 hours.
Moreover, in the last 24 hours, there has been a surge in whale activity as whales acquired a substantial 7.84 trillion SHIB overnight.
Will Shiba Inu Price Achieve $0.01 Target?
The SHIB price has broken free from the descending pattern, signaling a transition towards an upward trajectory. This is evident from daily bullish candlesticks at the support level of $0.00000663. This support level has proven to be a strong foundation for the bulls, allowing them to regain control and show overall resilience in the price.
SHIB Inu’s price has also crossed the 50-day and 200-day moving averages, currently trading below the price at a range of $0.00000741 and $0.00000817. The 200-day Simple Moving Average (SMA) functions as immediate support, confirming the likelihood of an impending bull rally.
Shiba Inu Price: An Optimistic Outlook
The Relative Strength Index (RSI) contributes to the optimistic outlook, as the current reading stands at 70, placing it within the overbought zone. This signifies intense buying pressure on SHIB’s price.
If the bullish momentum persists, the bulls could set their sights on a goal of $0.00001228 in 2023. Nonetheless, bearish factors may enter the scene, taking advantage of the chance to enact price adjustments and recoup their losses. This could lead to a decrease in price to the previous resistance level of $0.00000808.
Buy BTCMTX: Presale Approaches $4 Million Milestone
BTCMTX is rapidly approaching its $4.4 million soft cap and is nearing its soft cap target. Joining at this stage is advantageous before prices increase further.
With less than 3 days to end the 6th stage, Bitcoin Minetrix offers tokens at a discounted price of $0.0115 each. As the presale progresses, prices will gradually increase, eventually reaching $0.0119 in the final stage.
Get BTCMTX, Enter The $30,000 Minedrop Competition
The project is hosting a with a total prize pool of $30,000, providing an opportunity for ten fortunate participants to win a $3,000 reward.
Additionally, investors have the potential to generate passive income through the stake-to-mine program. By staking your BTCMTX tokens, you can access a significant APY of 161%. Currently, around 258 million tokens are already staked, resulting in the mining of 158.5 blocks per ETH.
Jacob Bury Crypto, a popular YouTuber with more than 23,000 subscribers has provided his viewers an extensive review and guidance about this promising opportunity. He has personally invested $3,000 in BTCMTX.
Hot Take
The rise in dormant wallets and whale activity indicates potential volatility for Shiba Inu’s price in both directions — towards higher targets or lower resistances — making it an intriguing investment option for those keeping an eye on crypto markets’ movements.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.